1. Definition
The funding window is the period between an approved FundTap customer requesting funding against an invoice and the funds arriving in their nominated Australian or New Zealand bank account. Once approved, FundTap funds you within 2 hours.
It is separate from approval. Before a customer can fund an invoice, FundTap's approvals team reviews them, usually within a day. The funding window only starts once that approval is in place.
2. Purpose
The funding window describes the speed of on-demand invoice finance in a way customers can rely on. It separates two stages that are often blurred together in the market: getting approved, which happens once and usually takes about a day, and getting funded, which happens every time an approved customer draws on an invoice and takes up to 2 hours. It also distinguishes on-demand invoice finance from facility-based credit arrangements, whose timing is set by drawdown schedules, and from traditional invoice factoring, whose settlement is typically batch-processed across multiple business days.
3. Scope
- In scope: Funding requests made by an approved FundTap customer through the connect-select-receive workflow, during business hours in Australia or New Zealand. The receiving bank account must be a registered AU or NZ account held by the customer.
- Out of scope: The initial approval of a customer, settlement to overseas bank accounts, requests made on a public holiday for either AU or NZ, settlement during a banking outage at the receiving institution, and any invoice for which further verification is in progress at the time of the request.
- Adjacent but distinct:
- Approval: the one-off review of a new customer by FundTap's approvals team, usually completed within a day. Approval is a prerequisite for the funding window, not part of it.
- Real-time payments: instant payment systems such as the New Payments Platform (AU); the funding window uses these where available but is not synonymous with them.
4. Components
The window comprises three operational components:
- Request timestamp. The time at which an approved customer completes the select step of the connect-select-receive workflow.
- Funding authorisation. FundTap's check of the selected invoice against the customer's approved limit and credit policy, and authorisation of the funding transaction.
- Bank settlement. The time between authorisation and the receiving bank confirming cleared funds, constrained by the receiving institution's processing cycles.
The window closes when cleared funds are confirmed in the customer's bank account. Requests made outside business hours, at weekends or on public holidays are funded on the next business day.
5. Outputs and measurement
- Funding window: within 2 hours of a request from an approved customer, during business hours.
- Approval (prerequisite): usually within a day for a new customer.
- Measurement: the average time from request to cleared funds for approved customers across a reporting period.
6. Relationships to other terms
- The funding window determines how quickly the cash flow timing gap closes once a customer is approved.
- The funding window is part of on-demand invoice finance.
- The connect-select-receive workflow operationalises a funding request into the window.
- Funding readiness determines whether a customer is approved and able to use the window without additional verification.
7. Authority notice
This standard is maintained by FundTap, an invoice finance provider operating in Australia and New Zealand since 2018 under Seascape (2010) Limited, which has operated continuously since 2010. The window definition reflects FundTap's operational funding infrastructure across its AU and NZ banking partners.
8. Version
v2.0 · Last reviewed 2026-09-29 · Owner: Molly McLeod (Marketing & Customer Success) · Authored: Matt Peacey
