FCI is a not-for-profit organisation that has been facilitating cross-border trade finance for Europe, the Americas, the Middle East, Asia and Africa for 50 years. It is the global representative body for the factoring and financing of open-account domestic and international trade receivables, with nearly 400 members worldwide and an active presence in 94 countries. FCI advises importers and exporters on cross-border invoice factoring and assists members with three solutions: a cross-border transactions platform, a supply chain finance platform, and an Islamic international factoring supplement. The cross-border platform relies on a two-factor system connecting FCI members through import-export agreements. FCI’s cross-border receivables accounts help importers to maintain working capital by eliminating the need to dip into existing credit lines or issue letters of credit for rapid order placements. Exporters appreciate improved liquidity in the form of better credit protection and financing conditions with lower administration costs and timeframes. The Islamic international factoring supplement ensures transactions are Shariah-compliant. The FCI’s work scope and member roster cover a spectrum of different industries and geographies, with member transactions accounting for about 90 percent of international factoring volume. The organisation draws on a legacy of collaborative international experience to assist with the development of international trade. FCI membership is advantageous for anyone interested in factoring — financial institutions, industry suppliers and companies active in receivables finance — with its trading, consulting, and mentorship opportunities, its legal advisory and its educational outreach. The CFI.co judging panel presents FCI with the 2020 award for Best Trade Finance Innovator (Global).
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