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. Choosing the right Import Factor is important, 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 crucial for an Import Factor to provide effective services.
The FCI Import Factor of the Year Award recognises FCI Members who conduct Import Factoring and have 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. The winners and runners-up were announced during the FCI Award Dinner on Wednesday, 12 June 2024.
Below are the winners and runners-up for this category.
1st Import Factor of the Year: ABN AMRO Asset Based Finance N.V. (Germany)
2nd Place: Crédit Agricole Leasing & Factoring SA – Niederlassung Deutschland (Germany)
3rd Place: Wells Fargo Bank (United States of America)
About The Winner
ABN AMRO Asset Based Finance N.V.
ABN AMRO Commercial Finance would like to thank all FCI partners for being voted ‘Import Factor of the Year’. We are equally proud and grateful for this award. Ulf Neumeier, Managing Director ABN AMRO Asset Based Finance N.V., German branch, congratulates the international team: “It is a great achievement that we were ranked 1st and received the Import Factor of the Year award from our FCI partners. The award reflects our constant efforts and our success in making business relationships sustainable and placing our customers and their requirements at the centre of our daily actions. A heartfelt thank you to all colleagues who work on that on a daily basis. ABN AMRO Commercial Finance is a trading name of ABN AMRO Asset Based Finance N.V. Together with ABN AMRO Lease, we are a leading provider of asset-based financing solutions such as leasing, hire purchase & equipment loans, and factoring & warehouse financing. We operate as part of the ABN AMRO banking group in Germany, the United Kingdom, the Netherlands, Belgium and France.
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About The Runners-Up
Crédit Agricole Leasing & Factoring SA – Niederlassung Deutschland
Crédit Agricole Leasing & Factoring Germany (formerly Eurofactor) is proud to win once again FCI awards, this time in three categories: In Import Factoring, we received from almost 50 members a service score of 99.05, an average rating of “Excellent”. We achieved a factoring volume of 1,246.92 million EUR. This resulted in the 2nd place in the category “Import Factor of the Year 2024”. Taking into account our Imports in combination with our export factoring services, we won 3rd place in the category “Export and Import Factor of the Year 2024 – Europe Region”. Furthermore, we realized a new factoring facility in cooperation with TEB Factoring through which we could achieve 3rd place in the category “Best Deal of the Year 2024”. This excellent recognition among the members of the FCI association reflects our focus on serving the client in the best quality and our expertise in international factoring. Our success in factoring is based on several pillars, where our entire focus lies: sound service, excellent communication, quick decision-making and the expertise of our staff, especially regarding international factoring. Hence, we are able to remain among the top factoring providers in Europe not only over the years but also over decades.
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Wells Fargo Bank
Wells Fargo Commercial Banking provides market-leading solutions, industry expertise, and in-sights 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.
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>> Learn more about the 2024 and past winners by clicking here.
Discover more
- Learn more about Factoring and how it can help your business by enrolling in an on-demand course today through the FCI Academy. Click here to find a course that is right for you.
- See who will win in 2025 by attending the 57th Annual Meeting in Rio on 22-26 June 2025. Click here to find out more.