RMP Capital attended the International Factors Group (IFG)’s 53rd Annual Meeting in Vienna the third week of October. As always the meeting was packed with information and outstanding networking opportunities.
One of the biggest agenda items for the members, and the highlight of the meeting overall, was the proposed union between the IFG and Factors Chain International (FCI). FCI maintains a network similar, at least in purpose, to the IFG in its promotion of the two-factor system to facilitate cross border factoring, self-regulation, training, and advocacy.
While having somewhat different membership basis, the two associations provided essentially the same functions to their members and given the regulatory challenges as well as the desire to promote factoring and supply chain financing worldwide, the union of IFG and FCI made perfect sense. From United Nations initiatives to make cross border factoring easier to providing truly world class training, the union will create one voice for the factoring industry worldwide which will ultimately result in better opportunities for cross border factoring which naturally will result in more SME opportunities.
RMP Capital is appreciative of the hard work by both organizations in the establishment of this union and congratulate the new union and the opportunities it will bring to our industry.