What is FCIreverse?
FCIreverse is a Supply Chain Finance (SCF) platform for financing buyer- approved receivables. FCIreverse combines the power of the FCI member network, interfactor framework and General Rules for FCIreverse with Demica’s award winning technology to provide a unique SCF platform solution enabling FCI members to initiate and participate in both local and multi regional SCF/reverse factoring programmes to increase revenues and grow assets.
FCIreverse has been developed by FCI to serve buyer - supplier relationships across multiple jurisdictions.
FCI members have access to the "Guide for FCIreverse" that explains all details about the reverse factoring approach of FCI.
What is Supply Chain Finance?
Following the Standard Definitions for Techniques of Supply Chain Finance developped by BAFT, EBA, FCI, ICC and ITFA (2016), Supply Chain Finance is defined as the use of financing and risk mitigation practices and techniques to optimise the management of the working capital and liquidity invested in supply chain processes and transactions. SCF is typically applied to open account trade and is triggered by supply chain events. Visibility of underlying trade flows by the finance provider(s) is a necessary component of such financing arrangements which can be enabled by a technology platform.
The entire definition is available here.