The 51st Annual Meeting of Factors Chain International (FCI) was held from June 10th to 14th at the Intercontinental Hotel in Saigon, Ho Chi Minh City, Vietnam. Representatives of factors from all over the world participated together to this annual event. Joyce Yang, General Manager of International Business Department of VTeam Group, was invited to attend and delivered a keynote speech on "International AR Factoring Services and Information Management".
During the meeting, General Manager Yang shared Vteam Group’s factoring business and and FinTech innovative service model to the participants. In recent years, Vteam has joined forces with various industry associations and core enterprises to create a number of industry and regional chain financial service platforms that connect funds and assets. Make full use of advanced technologies such as big data, artificial intelligence, blockchain, and the use of value-added services such as accounts receivable securitization to provide enterprises with richer and more diversified services.
In addition, FCI released the “2019 Global Accounts Receivable Industry Yearbook” at the annual meeting to introduce the development of Factoring Industry in various countries and regions around the world. The data shows that the total amount of global AR Factoring business already reached the EURO dollars of 2,767.067 billion in 2018, which was increasing of 6.5% than the year of 2017; and the amount of AR Factoring in Taiwan was nearly EURO dollars of 41.2 billion, which was ranking sixth in the Asia Pacific region.
As an FCI member, Vteam Group has practical experiences in the field of international AR factoring nearly 20 years, and has a wealth of practical experience and success stories. Not only has it hosted, co-organized and participated in a number of large-scale forums and events related to international AR Factoring that hope vigorously promote the development of the international AR factoring business, but also continues to work closely together with related organizations and AR factoring contractors to address the financing challenges of SMEs. VTeam has participated in the FCI Annual Meeting for four consecutive years and actively communicated with AR Factoring contractors, banks and related financial institutions from all over the world. Looking into the future, we will further strengthen cooperation with our international AR factoring counterparts in the business field, and innovate to jointly promote the booming of the AR factoring market in Greater China and the world.
