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Basware, a global leader in AP automation and invoice processing, has introduced AP Protect, an AI-powered solution that empowers finance teams to protect their organisations from the threat of profit loss, invoice errors and fraud.In 2023, Basware identified 10,800 incorrect payments made by companies for supplier invoices due to duplicate payments and fraud. This recovered the value of US$191m from a spend of US$245bn. On average, this prevented up to US$1m in losses for US$1bn spent by a company.
25/04/2024
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Apollo and MassMutual yesterday announced that MassMutual has become a minority equity owner in ATLAS SP Partners (ATLAS) and a capital partner to the ATLAS platform. ATLAS is the warehouse finance and securitised products business majority owned by Apollo funds. As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s asset-backed finance (ABF) franchise.
25/04/2024
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CaixaBank closed 2023 with a volume of assignments in factoring and confirming of more than €76,000m, a 2 per cent increase compared to 2022. This is the highest figure of the accounts receivable that the company has managed in a single year. Furthermore, this volume places the bank in first place nationally in this segment, with a market share of 28.2 per cent. According to data from the Bank of Spain, 89 per cent of working capital financing in 2023 has been carried out through factoring and confirming.
25/04/2024
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Shona Tatchell has been appointed as the new Director, Head of the Trade Facilitation Programme, at EBRD. She will start her new job on the 7th of May. Shona will take over the role from Rudolf Putz, who will be retiring at the end of May.
25/04/2024
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While lenders experienced subdued demand for factoring in 2023, reflecting soft consumer retail spending and a cautious retailer approach to inventory management, the Secured Finance Network (SFNet) Year-End Factoring Survey found that overall factoring sentiment improved somewhat last year, up 6.0, to 64.8, where 50 indicates a neutral outlook. The report attributed improved sentiment to the U.S. economy’s strong position at year’s end and a persistently solid labor market, which continued into the second quarter of 2024.
25/04/2024
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eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses across North America and the U.K., announces Edward Irvin as the newest member of its business development team. Irvin’s appointment strengthens the Company’s presence in the Southwest and West Coast regions, enhancing its ability to serve clients. Assuming the role of SVP, Business Development Officer, Irvin will report directly to Tom Siska, SVP, Commercial Finance.
24/04/2024
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British International Investment (BII), the UK’s development finance institution and impact investor, today announced the signing of a US$100m risk-sharing facility with Citi to support the trade finance needs of SMEs and corporates in frontier and emerging African economies.
24/04/2024
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Time Finance is welcoming Dan Murphy (pictured) as Business Development Manager (BDM) in its invoice finance team.
24/04/2024
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In the run up to RFIx24 Michael Bickers meets with the convention’s keynote speaker Professor Sir Roy Goode CBE KC FBA, Emeritus Professor of Law, University of Oxford, Emeritus Fellow, St John’s College, Oxford.
24/04/2024
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The UK’s second-largest trade credit insurer, Atradius has revealed that the number of claims it received from UK businesses decreased by 18 per cent compared to the same period in 2023, as a positive consumer outlook boosts consumer sectors.
24/04/2024
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BCR proudly announces the eminent panel of judges entrusted with the evaluation process for the RFIx24 Awards. These seasoned professionals bring decades of expertise to the table, ensuring a rigorous assessment of submissions that have propelled the receivables finance sector.The esteemed judges include:
23/04/2024
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Acre Impact Capital, a private-debt impact investment manager announces the first closing of its Export Finance Fund I (the “Fund”), with commitments of US$100mn, with a target size of US$300mn.
23/04/2024
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Standard Chartered today announced the launch of its new Open Banking Marketplace, a one-stop platform that enables both existing and prospective clients to discover, identify, and test application programming interfaces (APIs) that best meets their business objectives in a sandbox environment.
23/04/2024
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The Hong Kong Monetary Authority (HKMA) has rolled out a new SME information hub on its website, aiming to aid small and medium-sized enterprises impacted by shifts in consumer and tourism spending. The platform offers insights into SME lending services provided by major banks like HSBC, Standard Chartered, and Bank of China (Hong Kong), along with SME service hotlines and various loan products.
23/04/2024
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Sezzle Inc., a purpose-driven digital payment platform, is pleased to announce its new US$150m receivables funding facility secured with an affiliate of Bastion Management II LLC (Bastion). Bastion will act as the Administrative Agent for the lenders. The new facility supersedes the previous US$100m facility established in October 2022 with Bastion and affiliates.
23/04/2024
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