IV INTERNATIONAL FACTORING CONGRESS. Warsaw, 19/20 September, 2013

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1 IV INTERNATIONAL FACTORING CONGRESS Warsaw, 19/20 September, 2013

2 Panelists Daniela Bonzanini Peter Mulroy Erik Timmermans Moderator Andrzej Żbikowski

Daniela looks back to 30 years of factoring experience as a Head of International

3 FCI s representatives Daniela Bonzanini is the new elected on FCI AM in June in Athens first ever Chairwoman of the Executive Committee of FCI. Daniela looks back to 30 years of factoring experience as a Head of International in Banca IFIS, Italy. She s served several years as a member and Chairman of FCI Education Committee.

4 FCI s representatives Peter Mulroy is the new Secretary General as of 1 July Peter was previously Managing Director, for CIT Commercial Services in the USA. Peter succeeds Jeroen Kohnstamm, who served FCI for more than 40 years as Secretary General.

5 IFG s representative Erik Timmermans is CEO and Secretary General of IFG for 8 years now. Erik worked for 19 years at International Factors Belgium (now KBC Commercial Finance) in various sales, marketing and general management positions.

6 PFA s representative Andrzej Żbikowski, 19 years factoring experience, CEO of ING Commercial Finance Polska, one of the co-founders of PFA, long years Chairman of PFA, now representing PFA on the ExCom of EUF.

7 FCI: a global network Factors Chain International was established in 1968 to represent the interests of independent factoring companies around the world. With member companies offering domestic and international factoring services in countries across all five continents, FCI is by far the world s largest factoring network. Member transactions represent nearly 80% of the world s international factoring volume. 266 MEMBERS Some figures.. 73 COUNTRIES 1,303 BILLION volume in 2012

8 IFG: new international challenges The International Factors Group (in short: IFG or IF-Group) was founded in 1963 as the first international association of factoring companies. The international factoring scene has changed tremendously over the last years and continues to change every day. The growth of the industry, combined with a recent evolution towards Asset Based Lending creates new international challenges which go beyond the role of correspondent import export Factors. In 2002, IFG has taken up this challenge and is today recognized as the representative Trade Association for the Factoring and the Asset Based Finance Industry. Some figures.. > 160 MEMBERS > 50 COUNTRIES 63,291 Million volume in 2012

9 The EUF is the Representative Body for the Factoring and Commercial Finance Industry in the EU. It comprises national and international industry associations that are active in the EU. The EUF acts as a platform between the factoring and commercial finance industry and key legislative decision makers across Europe bringing together national experts to speak with one voice. The Factoring and Commercial Finance Industry has a valuable role to play in the EU economy and the EUF will debate with regulators and legislators to ensure they are fully aware of the benefits the Industry has to offer. Some figures.. EUF: an active force in the EU > 200 MEMBERS within the EU 1,207 Billion volume in 2012

10 QUESTIONS Q1: What is the factoring federations future going to be in 5 or 10 years perspective? Do you think they are going to merge to represent the Industry with one voice or is there a place to set up new ones? Q 2: We ve all heard about the receivables exchange platforms (like NYSE Platform). What do you think of them will our business move towards such or similar platforms or will factoring survive in the curent shape? Are they for factors only or should clients be part of it? Q 3: How do you see the future of factoring services looking at similar services (insurance, letter of credits, etc but also new commers from other industries like Google, or MS as well) taking a substantial part of our business away? Can we become a standard for factoring (both domestic and international) like SWIFT, ICC, etc? Q 4: Looking at the figure that export factored is 1,2% of the total world trade do you think that the two-factors system is still attractive enough?

11 Worldwide Factors Federations marriage or separation? Question 1: What is the factoring federations future going to be in 5 or 10 years perspective? Do you think they are going to merge to represent the Industry with one voice or is there a place to set up new ones?

12 Internet Exchange Platform future hope or bubble? Question 2: We ve all heard about the receivables exchange platforms (like NYSE Platform). What do you think of them will our business move towards such or similar platforms or will factoring survive in the curent shape? Are they for factors only or should clients be part of it?

13 Factoring and similar services (insurance, letter of credits, etc. but Google or Microsoft as well) Question 3: How do you see the future of factoring services looking at similar services (insurance, letter of credits, etc but also new commers from other industries like Google, or MS as well) taking a substantial part of our business away? Can we become a standard for factoring (both domestic and international) like SWIFT, ICC?

14 Two Factors System still attractive? Question 4: Looking at the figure that export factored is 1,2% of the total world trade do you think that the two-factors system is still attractive enough?

15 THANK YOU FOR YOUR CONTRIBUTION AND DISCUSSION

First EU Factoring and Commercial Finance Summit

A JOINT INITIATIVE BETWEEN IFG FCI EUF First EU Factoring and Commercial Finance Summit Brussels, Belgium / 27 January 2015 WITH THE KIND SPONSORING OF: Meet key EU decision makers, Members of EU Parlement,