The FCI Annual Meeting (10-15 June 2018) celebrates its 50th golden anniversary. In half a century, the worldwide association for factoring and working capital solutions - present through 400 companies in 90 countries – has reached an incredible success with a strong and continuous growth in membership and volume year after year.
This important event is a special occasion to issue a special book: Factors and Actors. A Global perspective on the Present, Past and Future of Factoring.
Edited by Patrick de Villepin (PhD in History, Global Head of Factoring, BNP Paribas, a founding member of the association) in collaboration with 37 contributors coming from 15 different countries, this collective work - both historical and global – covers the factoring industry over all continents.
Bringing together excellent historians with top experts in the field has enabled to produce a single vision of past legacies, current developments and future possibilities. Three main conclusions can be brought from this academic and professional work:
To face all new challenges of the 21th century, Factors and Actors makes ten proposals to promote factoring:
1- Ensure a fair regulatory environment for factoring
2- Better recognize factoring by governments, central banks & corporates
3- Harmonise solvency/liquidity regulatory conditions
4- Promote credit insurance as risk mitigation vehicle
5- Push full notification factoring for SMEs worldwide
6- Improve coordination between working capital & securitisation
8- Extend ABL in Continental Europe
9- Contribute to digital & innovative factoring 2.0
9- Build a blockchain solution for FCI import/export correspondent factoring
10- Promote factoring education as key differentiator
In summary, this project helps to increase experience and awareness about a very special financing activity and its numerous virtues. Today factoring stands at a crossroads. Ten years after the start of an unprecedented financial crisis, the time is ripe to promote this form of sound, secure and innovative form of financing.