QUALCO at the 23rd annual Receivables Finance International Convention
Drawing participants from around the world, the 23rd annual Receivables Finance International Convention (RFIx23) united established leaders in Supply Chain Finance, delivering crucial insights into the most current developments in invoice financing, market hurdles, and financial advancements. Hosted by BCR Publishing, a renowned global provider of receivables finance knowledge, RFIx23 was held in London, United Kingdom, on May 23-24.
The SCF market – bigger, better, or bubble?
George Koukis, International Business Development Director, Factoring & SCF at QUALCO joined the panel discussion ‘The SCF market – bigger, better or bubble?’ along with Eric Balmer (Global Supply Chain Finance Group), John Omoti (Bank of China Limited) and Justin Parr (Beacon). Christian Hausherr (Deutsche Bank) moderated the discussion.
As the Supply Chain Finance (SCF) market experiences remarkable growth, both established lenders and new players are stepping up their game. The panelists delved into the latest trends and themes, shedding light on the future of the dynamic SCF market. One key point of discussion was the significance of collaboration between banks and fintech companies, rather than viewing each other as competitors in the SCF space. The panelists discussed the role of SCF as a driver for social good and its potential to shape the future of sustainable business practices throughout the broader value chain.
The anticipated regulatory changes and their potential impact on SCF were also discussed, along with the sustainability of the current demand for SCF offerings and its growth trajectory. Finally, the panelists delved into how fintech companies are analysing risk specifically for small and medium-sized enterprises (SMEs) as buyers in SCF transactions and shared their predictions for innovative SCF solutions, such as deep-tier financing, pre-shipment financing, and addressing the needs of the long tail in the supply chain.
George Koukis emphasised:
The challenges SMEs face in accessing funding and participating in SCF programs, due to information asymmetry with banks, combined with the lengthy and costly due diligence and credit assessment.
That fintechs can use Artificial Intelligence (AI) and Big Data analytics to evaluate risks and predict transactional behavior, payment patterns, and other crucial due diligence elements.
How QUALCO ProximaPlus empowers fintechs to assess the risk for SMEs as buyers, thanks to the platform’s modeling tools enabling accurate risk measuring.
QUALCO ProximaPlus is a modular, end-to-endFactoringand Supply Chain Finance (SCF) platform to manage the Receivables Finance business. It streamlines operations and minimises the time and cost of new factoring and SCF product implementations by combining the flexibility required by business users with the efficiency required by administrators.