In this final edition of our Spotlight Series, we interviewed our Director for the Americas, Mr Alberto Wyderka, to answer a few questions to get to know him a little better.

What got you started in the industry?

I started working in the financial industry, more precisely in banks, many years ago. When I say many, they are many, and except for a short stint in the Legal Department, I was able to go through many other areas: risks, credits, product development, banking correspondent and trade finance. And most of it was in trade finance. In 1995 I was in Banco Galicia, Argentina, one of the largest private banks in the country and precisely in ¨Correspondent banking¨ and Trade Finance.

In those years, more precisely in 1996, we were visited by the Nations Bank, a significant player in the domestic and international factoring industry in the US. I remember that during dinner, they proposed we enter this business, develop it and become members of FCI. The General Manager of the Bank, who was an excellent friend of mine, when I commented that the subject was very interesting, I asked, well, but who will do it in the Bank and he said: you. And so it was, from that moment, I fell in love with factoring, to the point that I appointed managers in the different segments of trade finance, and I assumed factoring. And it was a good decision.

Why should companies choose factoring?

I could give you many reasons. However, I must say that companies should first learn about this financial, service and marketing tool. And I think that, at least in my region, there is no such widespread knowledge in demand. Therefore there is an enormous educational task to be done.

There are many forms of factoring, but there is only one system in the international field - the "Two Factor System", which can be done effortlessly through FCI.

To answer, I would like to focus on this alternative, which in my opinion, in all ways, is the one with the most virtues. And these are:

• Availability of working capital without taking the company as a credit or payment risk.
• Makes financing more dynamic: the more the company sells, the more willing the Bank will be to finance, if it has the protection of its correspondent.
• Tool to expand the international sales of the company. In the current global commercial context, where more than 70% is structured in open accounts, the exporter's risk is his own client, which leads him to limit his sales. With this tool, the exporter eliminates it and increases its sale. And the scourge of the pandemic further increased the need for exporters to minimize their uncollectible accounts.
• Competitiveness: the company gains in competitiveness. They will be able to sell in the terms that the demand intends, which is in an open account. The company is positioned at the same level as other suppliers of the same product, from its country or another, even offering better terms.
• Flexibility and efficiency in collection: the Bank manages the collection and keeps the exporter informed, using advanced technology.

These are not the only virtues, perhaps they are the most tangible for the company and in truth, seeing them makes the exporter increasingly opt for this solution.

How does factoring help businesses besides the financial aspect?

I think the answer is contained in the previous question.

What has been your biggest highlight in your career?

Well, in this question I do not want to challenge the humility that every person should have. But allow me to give you two highlights, having become at one point in life a reference in trade finance in my country market and having been Chairman of FCI, being the first and only Latin American, who until now reached that position.

What keeps you motivated?

This is a somewhat presumptuous question that again can put humility at risk. But taking risks, I would say that my character and way of being and that I never give up.

Who is your hero?

My father.

You have a table of 5 for dinner, who would you invite, passed or living?

You limit me a lot with only five seats at this table. Let me propose an extendable table to fit more people.

I would like to share the table with Alexander the Great, Julius Caesar, Aristotle, Winston Churchill, JFK, Nelson Mandela and my father. Who do you think would be the one to start the conversation?

And if it could be possible, I would love another 3 seats and let the world listen to what Jesus, Mohammed and Buddha would have to say.

We want to thank Alberto for letting us get to know him a little more. This is the end of our Spotlight Series but stay tuned for new series coming soon!