Banks, Factoring companies or financial organisations who are service providers to the receivables finance industry should consider the advantages of FCI membership
- Instant access to a network of correspondents in more than 90 countries
- Access to a standardised procedure using a state-of-the-art communications system (edifactoring.com*).
- Being able to use a recognised arbitration service in case of conflicts with correspondents
- Access to a broad range of robust educational products, including designed e-learning, regional seminars, webinars tailor-made training and mentoring.
- Full access to statistics, studies, presentations and other useful information on the private library of the FCI website.
- Access to legal foundation (General Rules of International Factoring - GRIF)
- Have the opportunity to meet and greet worldwide factoring industry professionals at our regular meetings.
- Be part of a group that lobby stakeholders such as policy makers
- Access to the new FCIreverse platform and rules for international Islamic Factoring
- Ensure compliance, AML and KYC
*edifactoring.com: a web-based software providing an advanced platform for exchange of dedicated messages between FCI members and having its internal own report system.
FCI membership is only granted to companies committed to our high service standards which have become a benchmark for the factoring industry.
Set up in 1968, FCI has built up a worldwide reputation for excellence.
As well as a minimum capitalisation of two million euros, shareholder backing and proven management qualities, new Associate members must be prepared to be active members of FCI. New members are encouraged to participate in FCI events, join training programmes and get involved in the various discussions and activities of the association.
FCI offers members a variety of training courses, e-learning and seminars, please have a look here.
Through our two-factor system and various other cross-border solutions, we connect you with other members and service providers to assist your company in financing and servicing international clients. The two-factor activity is supported by a consistent legal environment (General Rules on International Factoring) and by our IT system EDIFACTORING, a web-based solution for sending and receiving two-factor transactions as export and as import factor. In 2018, the FCI Council approved the Supplemental Agreement for Islamic International Factoring. In order to conduct international factoring transactions that are compliant with Shari’a, both correspondent have to sign this additional agreement.
FCI also connects you with specialized service providers in IT, legal and Risk Management services (sponsors members).
We also developed FCIreverse, which will give access to members to the state of the art Reverse Factoring Platform of Demica. This allows interested members to develop domestic and international approved payables financing business, without having to invest upfront in a system.
One of the main advantages of belonging to FCI is definitely the possibility to “rub shoulders” with industry professionals from all over the world, exchanging knowledge and experiences and building valuable business relationships. During our annual meeting, we bring together the most influential managers of the industry worldwide.
Through the year we organize education programs in various aspects of domestic and international factoring and other aspects of Open Account Trade Financing. As a member of FCI your company will have access to first class education in Factoring and Receivables Finance, through e-learning, webinar, tailor-made training, mentoring or during physical seminars.
As the representative body for Factoring and Receivables Finance, FCI produces statistics, studies and information about the industry which is of great value for our members as well as for other stakeholders such as policy makers. Being a member in FCI means that you take part in our long-term mission of defending the factoring industry worldwide and creating a more harmonized legal and operational environment. We have many different members in size and scope, but they all share the same passion about improving the awareness and recognition of the Factoring & Receivables Finance Industry worldwide. Thanks to its large country presence, FCI is today a recognized body by many governments and Central Banks that have asked for assistance when setting up factoring laws.
FCI has 4 types of memberships but you can only apply for 3 types:
Members who intend to do cross-border factoring transactions. The Associate members have access to the systems and rules which have been created and continuously improved by the FCI members during the past 50 years. The rules include General Rules of International Factoring (GRIF), Islamic International Factoring Rules, FCIreverse Rules and Arbitration rules.
Full Members have been FCI associate members for at least of 3 years and have a certain level of transactions through edifactoring
Members that have the access to database, rules and know-how which have been built-up and continuously improved by the FCI members during the past 50 years. Affiliate members will have all the benefits of associate members in terms of education, networking and industry information but do not have access to the two-factor platform. Affiliate members are part of the FCI community; FCI's lobby power grows ever stronger with a large number of members.
Members that are service provides to the Factoring and Receivables Finance industry. By becoming a Member of FCI, you will have access to a network of close to 400 banks, financial institutions, independent factoring companies and service providers in more than 90 countries. In addition, you have the opportunity to sponsor FCI annual meetings (reserved for FCI members). You also have additional advertising opportunities at a lower price than non-members. Being an FCI sponsor member additionally gives recognition of the high quality service the provider offers to its customer.
Service providers to the Factoring and Receivables Finance industry that are software companies or other types of specialised tech companies.
All other service providers to the Factoring and Receivables Finance industry.
"When The Collection Law Group decided to become a member of FCI and attend the 55th annual conference, quite frankly, we did not know what to expect. We did have certain hopes and goals for the meeting, but the truth is that all of our goals and expectations were matched, plus more. Below is what we found to be at the meeting. The management of the FCI is one of the most hard-working, inviting, and warm groups we have met at any association or conference ever attended. The members of FCI are all driven, successful, and welcoming individuals in the international factoring world who made Carolyn and I feel at home even though we were thousands of miles away from our US office. Based on our experience at the Marrakech meeting, our firm anticipates being a member of the FCI and attending annual meetings for years to come." The Collection Law Group
“We write this letter to express our deep gratitude for your support, especially Mr. Mulroy, Mr. Lui, Mr. Radu and the FCI Academy team throughout the past year. We would like to announce good news, after half a year of joining FCI and with a lot of efforts, we have officially launched the Export Factoring product under the two-factor system from January 3, 2024. In the near future, we will implement sales and promotion programs, so we need FCI's support in training as well as introducing us to opportunities to cooperate with import factors as banks around the world.” BIDV