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In its ongoing commitment to establish factoring as a viable financing solution for Africa’s small and medium-sized enterprises (SMEs), thus bolstering their participation in intra-regional trade and industrialisation, the African Export-Import Bank (Afreximbank) and FCI recently held a two-day factoring conference in Harare.
26/04/2024
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Emirates NBD, in partnership with DP World Trade Finance, Enigio and iBind, has successfully completed the first-ever Proof of Concept (PoC) on Digitally Native Trade documents (hereinafter referred to as “Trade document”) with the application of Trusted Digital Identity. This unique milestone, achieved in collaboration with Enigio and iBind, represents a significant stride in leveraging technology to enhance global trade and financial services.
26/04/2024
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Yubi, the world's only technology company powering the end-to-end debt lifecycle, has announced a strategic partnership with MODIFI, one of Europe's fastest-growing B2B FinTech companies. This collaboration marks Yubi Group's entry into cross-border trade financing, reinforcing its commitment to democratizing access to capital and fostering inclusive economic growth.
26/04/2024
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Responding to popular demand, BCR has announced the addition of an Artificial Intelligence for Receivables Finance (AI4RF) seminar to its highly anticipated RFIx24 agenda.
26/04/2024
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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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