5 FCI Members Scoop Prizes at the TFG International Trade Finance AwardsMonday 11 February 2019
FCI is delighted to announce that 5 of its member organisations have been recognised and commended for their contribution to the trade sector at the 2019 International Trade Finance Awards by Trade Finance Global.
FCI Member Awardees include:
- Best Receivables Financier - Stenn International
- Best Invoice Financier - Bibby Financial Services
- Best Supply Chain Financier - Demica
- Best Trade Credit Insurance Provider - Euler Hermes
- Best Trade Finance Software Provider - HPD Software
The constantly changing geopolitical landscape and macroeconomic outlook was an emerging theme amongst the winners. FCI members also mentioned opportunities around technological innovation, the standardisation of trade and opportunities for the digitalisation of trade and factoring documentation.
Peter Mulroy, Secretary General at FCI said: “It’s a great honour for us to find 5 of the awarded companies being FCI members. It shows the high level of excellence our members demonstrate. FCI members have a history of excellence, market leadership and innovation.”
“The first two awarded companies are “trading” members of FCI, representing members that qualify to trade on the proprietary FCI platform with other members of the network. The last three are considered “sponsor members” or third party service suppliers to the Receivables Finance Industry. It is very important for us that the service providers demonstrate excellence and they all possess their own unique and strong reputations in the market, as these awards demonstrate.” he added.
Kerstin C. Braun, PhD, President at Stenn Group said: “As we consistently brainstorm innovative ways to fund the $1.5 trillion gap of global trade, we realized we needed extensive expertise. So in 2018, we hired top notch talent to our company. I am incredibly proud of our team: they are my daily happiness. These people are full of experience and fresh ideas of how we can help the global supply chain. We’ve welcomed many experts in our field this past year.”
The UK’s departure from the EU remains a priority, but also a challenge for many at this current time. Paul Fraser, Sales Director - Specialist Products at Bibby Financial Services said: “Data from our SME Confidence Tracker report shows us that confidence amongst UK businesses continued to decline throughout 2018, due – in part – to uncertainty surrounding the UK’s exit from the European Union. While this provides an opportunity for our teams to support businesses trading both internationally and domestically, we are seeing more and more businesses delay investment decisions and recruitment, which will undoubtedly impact the UK economy over the weeks and months ahead.”
FCI, together with Demica, the leading independent global provider of Working Capital Solutions, signed a framework legal agreement to allow FCI members to access to the FCIreverse Platform in May 2018. Demica continues to grow from strength to strength, having demonstrated a successful pilot with FCIreverse in 2018, to allow FCI’s network of 400 banks and factoring firms access to the platform, which is why TFG named Demica “Best Supply Chain Financier”.
Demica’s CCO, Maurice Benisty, said: “We are honoured to receive this award. This is a recognition of the hard work our team and the confidence our customers place in awarding their business to Demica. We take neither for granted.
“We are seeking to transform the way working capital solutions are delivered to large corporate customers. Either by working with banks to provide them platform services or directly with corporates to address their complex financing needs we work to unlock capital for reinvestment.” he added.
Euler Hermes UK CEO, Milo Bogaerts, said: “The prospect of protectionism, illustrated by Brexit and the trade dispute between the US and China, is a major challenge for the Group and our customers. Our latest forecasts show a ‘no deal’ Brexit scenario would lead to a 20 per cent uptick in insolvencies in 2019, as resilience in the economy begins to fade. We also anticipate global trade growth could halve by 2020 should US tariffs on Chinese goods reach 25 per cent.
“A constantly changing, increasingly-digitalised business landscape offers both opportunities and challenges in the medium to long-term. Being bold is key to tackling these head-on and ensuring our offering to clients continues to meet their needs.” he added.
The winners for the Trade Finance Global 2019 Excellence Awards were announced this morning.
For more information on the Awards and interviews with the winners, please visit https://www.tradefinanceglobal.com/services/international-trade-finance-awards-2019/.
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FCI was set up in 1968 as an umbrella organisation for independent factoring companies around the world. Today we have grown into the world's representative factoring network and association with close to 400 members in 90 countries.