FCI collaborates with HPD Lendscape for a workshop on Receivable Finance, Singapore 2019Friday 17 May 2019
HPD Lendscape in collaboration with FCI held a workshop on working capital financing in Singapore on 16 May at Park Royal on Pickering.
The workshop was attended by 40 participants from various banks and factoring companies.
FCI Regional Director for South and South East Asia, Lee Kheng Leong gave an update of the latest market survey outcome highlighting on the growth of international factoring in Asia and the potential of Singapore being a centre of excellence in working capital financing in this region.
He mentioned that FCI two-factor arrangement is not only beneficial to exporters but to the banks as well as they get 100% credit protection. With our guaranteed payment of 90 days they do not have to make provision when the invoices are more than 90 days overdue. Furthermore our collection enables them to detect fraud and dispute.Best of all it also improves their RWA.
The FCIreverse, the three-corner and the four–corner model were also presented. Mr. Lee highlighted with low costs FCI members can go into supply chain financing both locally and internationally.
Kevin Day, CEO HPD Lendscape, presented the Growth factor. Mr. Day highlighted how technology helps banks and factors to go into new business, retain account, grow the business, capture new market and also prevent the risks associated with receivables financing.
A demo on the supply chain financing was done by Dave Smart, Regional Sales Director of HPD Lendscape. It is an eye opener for many participants as it shows the working of a true blue supply chain financing software.
The participants were happy with the workshop as it is not only the first FCI workshop but it is also the first gathering of the working capital specialists in Singapore and it is also their first networking opportunity. Many expressed the need for further networking sessions to share experiences and new ideas.