An Import Factor can provide services such as buyers' credit risk protection, collection services, dispute resolution, and fraud risk mitigation. By partnering with an Import Factor, businesses can increase opportunities for cross-selling, boost business volumes through correspondents, and earn additional revenue from Import Factoring Services.

It's important to choose the right Import Factor, as the success of a cross-border factoring transaction depends on it. The performance of the Import Factor can affect the relationship with the buyer, and a good Import Factor can improve the reputation and image of the exporting business. Understanding the industry norms and the business ecosystem is also crucial for an Import Factor to provide effective services.

The FCI Import Factor of the Year Award recognises FCI Members who conducted Import Factoring and received the highest grade from several criteria, including Service quality, Number of votes (ratings), Factoring volume, Number of invoices and credit notes, Individual response time, Individual collection period, and Coverage ratio. During the FCI Award Dinner on Wednesday, 1st November 2023, the winners and runners-up of this category were announced.

Below are the winners and runners-up for this category.

1st Place: BNP Paribas Factor, France

2nd Place: Wells Fargo Bank, United States of America
3rd Place: Eurofactor, Germany

About The Winner

BNP Paribas Factor

For more than 20 years, BNP Paribas Factor has been supporting businesses both in France and abroad with its factoring services. BNP Paribas Factor provides a full range of online factoring services and payment of invoices within 8 hours, leaving business owners with time to focus on their business by supporting them with their financial management. BNP Paribas Factor helps improve your cash flow, releasing you from the pressures of the last week of the month’s cash management. The strength of our factoring solutions, reinforced by being part of the BNP Paribas group and our physical and digital networks, is what makes BNP Paribas Factor a leader in today’s factoring industry and in promoting the growth of companies in Europe.

About The Runners-Up

Wells Fargo Bank
Wells Fargo Commercial Banking provides market-leading solutions, industry expertise, and insights to help enable our clients' growth and success, enhancing the communities we serve. We can tailor a comprehensive suite of services and solutions to help fit your situation, whether you’re riding out seasonal sales fluctuations, expanding into overseas markets, or looking for ways to improve working capital performance. Our vision is to satisfy our customers’ financial needs and help them succeed financially.

Eurofactor
On September 1, 2022, Eurofactor GmbH was merged with the Crédit Agricole Leasing German Branch, which was newly founded in 2021, and is now a branch of its parent company, Crédit Agricole Leasing & Factoring S.A., Paris (CAL&F S.A.). Eurofactor and CA Leasing jointly sign under the new name Crédit Agricole Leasing & Factoring S.A. – Niederlassung Deutschland. We offer leasing and factoring from a single source, thereby significantly expanding our product portfolio in Germany for corporate financing. Both types of financing are now an integral part of the financing mix for medium-sized and large companies and have experienced a continuous upswing, as their off-balance advantages are highly valued and they can be used very flexibly. The CAL&F Group is thus strengthening its range in Germany, increasing internal synergies through the merger and expanding its business in all company segments, from small and medium-sized companies to listed companies.

>> Learn more about the 2023 and past winners by clicking here.

Discover more

• See who will win in 2024 by attending the 56th Annual Meeting in Seoul on 9-13 June 2024. Click here to find out more.