"FACTORS AND ACTORS»: A REFERENCE BOOK TO PROMOTE FACTORING
Patrick de Villepin, chairman of the ASF’s Factoring Committee (the French Association of Specialized Finance Companies), a founding member of the EU Federation(EUF), has published a book called "Factors and Actors". Its aim is to promote global awareness of the factoring industry and this collaborative work brings together thoughts and analysis from 37 experts from 15 different countries, including historians, professionals and several EUF members. The book spans the past, present and future of the factoring business from both historical and technical perspectives. It also includes a chapter on the EUF itself.
"Factors and Actors" is structured around several key themes:
- How to support companies in their international growth?
- What is the future for factoring?
- What transformation is required for a Factoring 2.0?
- What will invoices look like in 10 years’ time?
"Factors and Actors" was launched at the 50th anniversary meeting of FCI, the World Factoring Association which brings together 400 factoring companies from 90 countries.
Marking the occasion, Patrick de Villepin said "Today, factoring is at a crossroads. With the emergence of fintechs, new risks linked to cybersecurity and the challenges of digitization, we have constantly to innovate to better meet companies’ needs and to support international trade. This collective work provides useful ideas for all sector stakeholders around the world".
Patrick de Villepin (Ed.), Factors and Actors, A Global Perspective on the Present, Past and Future of Factoring, Brussels, Peter Lang, 2018, 434 pages.
Factoring and Commercial Finance grows again, supporting economic expansion in the EU
Final analysis of data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that factoring and commercial finance volumes in the EU grew overall in 2017 by 7.5% to €1.6 Trillion.
This rate of growth again clearly outpaces the increase in GDP in Europe and demonstrates clearly the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. This success story is about real growth, real employment and demonstrable business success in supporting the ongoing recovery.
Almost €220Bn of funding is supporting over 200,000 European businesses.
With factoring and commercial finance now representing around 10.5% of EU GDP, this is a powerful and important contribution to EU economic development and success.
Mrs Françoise Palle-Guillabert, Chairman of the EUF, noted: "The continuing story of growth in our Industry reinforces yet again the highly important role we have in financing the development and expansion of the the real business economy right across the European Community. However, this success should not make us forget that for years to come Factoring and Commercial Finance industry will have to deal with major prudential and legal issues (NSFR, Anacredit, NPL, Basel III, Rome 1, SMEs definition...) and that their voice will have to be taken into account by European legislators and regulators.”
Please see the full press release with EUF statistics by country:
Discover the Spring Newsletter
The EUF is glad to publish its latest Newsletter.
- Welcome from the newly elected EUF Chairperson
- The EUF Legal Study 2017 is now out
- Closing the regulatory gap in the Rome I-regulation
- Preliminary 2017 figures – factoring market on a growth path
- Addressing non performing loans: a non-issue for the factoring industry?
The Newsletter may be downloaded here: