In this edition of our spotlight series, we asked Julio Nielsen, FCI Executive Committee Member, to answer a few questions so you can get to know him better.

What got you started in the industry?

I studied Industrial Civil Engineering at the University in Chile. When I finished in 1987, I started working at a Credit Insurance Company, which today in Chile is part of Atradius. I worked there for almost ten years, and my last position was Head of Underwriting and Reinsurance. 

One day I met a former boss who had moved into the factoring business, and he told me that his company wanted to start doing international factoring. He convinced me that reinsurers were similar to FCI correspondents, and of course, he gave me some extra incentives. This is how I made the leap from the insurance industry to the factoring industry.

Do you feel enough is being done to get youth involved in this industry?

The world is constantly changing and getting faster. Young people are eager for knowledge, and for them, education is essential. In this, FCI has a prominent role. FCI Academy and its programs allow the new generations to be trained thanks to a globally recognized and accredited educational offer.

I am convinced that education is an excellent way to support the development of young talents, and FCI is making a solid contribution to this.

How do you feel about the digital evolution in the industry?

In Chile, since about 8/10 years ago, 100% of invoices are electronic, which has made it possible to develop the factoring business almost 100% digitally. We have a digital Registry for all e-invoices, which allows us to avoid fraud, e-assignment and e-confirmation of invoices, electronic payments, etc. There is still room to digitize, but not much. This has allowed several Fintech to flourish in the country, which has also begun to develop business in Latin America.

Our model has been exported to other countries, such as Peru and Colombia, where some modifications/improvements have been introduced.

I think there are markets where factoring is more developed than in Chile, but its level of digitization is lower. Perhaps it is a good idea for those markets to look at this digital business model to get new and good ideas they can use.

Do you have any hobbies?

Today my hobby is doing Sports. I play Football two times per week as well as Paddle Tennis. Occasionally, I also play Tennis and go skiing if there is enough snow on the mountain.

What keeps you motivated?

My family keeps me fully motivated. I’m married, and we have two daughters and two sons, all of them still living at home with us. Also, we have three dogs, two males and one female. 

What is your favourite song?

I don’t have one; I have many!!! When I was young, I was a DJ for over ten years. That was in the 80s and 90s. At that time, everything was analogue. I used the traditional turntables and vinyl LP records to keep the party at its best, and the only way to do that was to know all the music by heart.

We want to thank Julio for letting us get to know him a little more. Next week we will interview more of our Executive Committee, so stay tuned!

Discover more

• Join us and meet the Executive Committee at the 55th Annual Meeting in Marrakech from 17-21 September 2023 as we dive into Supply Chain Finance, Receivables Finance, Factoring, and so much more. Register today by clicking here.