The International Islamic Trade Finance Corporation (ITFC) approved a €100m Murabaha financing to SENELEC (Senegal National Power Company). The company’s strategic mandate is to ensure the production, transmission, and distribution of electricity in Senegal. This approval reflects ITFC’s commitment to supporting the availability and affordability of electricity in member countries. The facility is purposed to cover […]
Izola Bank, a Maltese bank wholly owned by Belgium based Van Marcke Group, has chosen HPD Lendscape, a leading international secured-lending platform vendor, as the Bank’s new technology partner to replace the legacy working capital technology. The first stage of the migration, due to be delivered in early 2022, will see Izola Bank’s domestic and […]
With a record investment of $23bn across over 1000 funding deals in the last nine months, and with 33 new entrants into the exclusive unicorn club (start-up businesses valued at over £1bn), India is hot on the heels of the UK’s $30bn of start-up investment in the last year. While the momentum of funding had […]
Banks may have to turn technology and crypto challenges into opportunities if they are to prosper in a fast-changing financial landscape. Without opening new business lines or effecting other structural change, the sector’s profitability will remain tepid. That’s according to participants at S&P Global Ratings’ recent European Financial Institutions Virtual Conference. A link to the […]
Gathered data for European factoring market for IH 2021 has shown again year on year increase of 10.7% for European countries, comparing to 6.0% decrease after IH 2020, the year of the crisis and the lockdowns. Total factoring turnover for European countries reached €953 billion euro comparing to €854 billion euro in IH 2020. Graph […]
Research commissioned by Türkiye Wealth Fund forecasts that the annual value of Turkey’s financial services exports is to increase from US$2bn to US$16bn by 2036, with Turkey’s financial services exports expected to rise to 1.3% of GDP, up from 0.3% in 2019. The iFC, a new financial center in Istanbul, will be pivotal in helping […]
WOA, World of Open Account, is delighted to report that the first face-to-face post-pandemic international conference in receivables finance was a huge success! Held on 4/5 October 2021 in Vienna, a big thanks is due to main conference partner Raiffeisen Factor Bank AG and to sponsors Adamant Lane AG, Atradius Collections, Codix, efcom gmbh, HPD […]
Engagement Banking technology provider Backbase announced today that it has entered into a long-term collaboration with Raiffeisen Switzerland. It involves Backbase supporting Switzerland’s third-largest banking group in the development of their customer interface. Backbase and Raiffeisen signed the contract to formalize their collaboration on 20 September 2021. Fast-paced technology developments and changing customer needs require […]
FCI has held its 53rd Annual Meeting virtually, with a highly successful, informative and in-depth programme involving over 30 leading industry experts via presentations and panel discussions on the latest developments, trends and challenges in the Global Factoring and Receivables Finance Industry. Following the Council Meeting which took place within the event, a new Executive […]
FCI announced the winners for the 2021 Business Awards at this year’s 53rd Virtual Annual Meeting today. The announcement followed the election of FCI’s new Chairwoman and Executive Committee. Below are the categories of each award along with the winner and runner-ups. Best Performance as Import Factor 2021 Deutsche Factoring Bank – 99.23% Wells Fargo […]
