[box]
BCR Publishing have announced the winners of the 2nd annual RFIx Awards, which took place on 6th March 2019 at the Marriott Grosvenor Square Hotel in London. The evening bought together international players to celebrate major achievements and recognise industry success as the market continues to grow and prosper.
[/box]
As the receivables finance industry continues to evolve, BCR’s Receivables Finance International Convention (RFIx) held in London this week, addressed some the latest market entrants, examined the future of technology-enabled finance models and drove the conversation on how the industry can increase access to working capital for SMEs and emerging markets.
With political and conflict risk at the heart of conversations, the factoring industry fared well in 2018, which according to the FCI, grew 5% last year versus 2017. In volume terms, an estimated $3.06bn USD (2.73bn euros) of factoring was done in 2018, versus 2.60bn euros in 2018. Secretary General, Peter Mulroy announced yesterday that the preliminary statistics showed continued strong growth in Asia, offset by major underperformance in the UK and Turkey.
Europe, which represents around two-thirds of the total showed a positive 6% year on year growth, helped by France (+8%), Italy (+8%), Germany (+5%), Spain (+14%) and Netherlands (+10%), which make up the large majority of this market. The UK fell short by around 318 billion euro versus 2017 (-2%), and Turkey (just over 24 billion: -30%), largely driven by currency volatility and geopolitical uncertainty in both markets.
Asia Pacific represents a quarter of the factoring volumes, with a growth of 3% (up 679 billion euros versus 2017.
South and Central America now occupy the third position: a 4% share of the total world factoring volume with 119 billion euro.
North America, with just over 93 billion euro, remains stable with a 3% share although Canada reports a -3%
Africa, the “future” where the product is expected to grow rapidly, adds up to 23 billion euro with a growth of 7% largely thanks to the contribution of the older players, South Africa (+9%) and Egypt (+24%).
Winners of the RFIx Awards
[responsive]
BCR Publishing also announced the winners of the 2nd annual RFIx Awards, which took place on 6th March 2019 at the Marriott Grosvenor Square Hotel in London. The evening bought together international players to celebrate major achievements and recognise industry success as the market continues to grow and prosper.
Managing Director of BCR Publishing, Michael Bickers, said: “We’re delighted to hold the second RFIx Awards. I think it’s very important to be honouring excellence in this industry. This is a very dynamic, fast developing and competitive sector which means that there are a lot of people out there creating some very interesting products and providing excellent service”.
The winners were:
SME Finance Provider of the Year
NoviCap
Supply Chain Finance Provider of the Year – Bank
ING
Supply Chain Finance Provider of the Year – Non-Bank
PrimeRevenue
Supply Chain Finance Technology Solution Provider of the Year
Demica
Alternative Finance Platform of the Year
Finexkap
Factoring Provider of the Year – Independent
Bibby Financial Services
Factoring Provider of the Year – Bank
HSBC UK
Factoring Technology Solution Provider of the Year
HPD Software
Risk Management Technology Solution Provider of the Year
Equiniti Riskfactor
Development Bank of the Year
IFC
Most Innovative Fintech of the Year
Finexkap
Global Receivables Finance Provider of the Year
HSBC UK
Lifetime Achievement
Tony Davison
[responsive]
