Factoring Market Trends

1. How The Down Economy Has Completely Affected the Factoring Industry? Factoring is a type financial service offered by the banks or the third-party financial service provider in which a seller trades its accounts receivables the factor at a discount rate in order to raise the funds. The seller gets immediate funds for the receivable and the factor holds the invoice and makes a small profit. It consists of three stakeholders namely seller, buyer and factor. The seller sells the goods to the buyer, raise the invoices and submit the invoices to the factor in order to raise funds whereas the factor verifies the invoices. Growing awareness pertaining to the advancement of financial technology, such as money transfer and payments, budgeting and financial planning, borrowing, saving and investment, and insurance, drives the adoption of Fintech. For instance, the adoption rate of Fintech globally has seen a continuous upward trend. Trends in Factoring Market: Competitive Landscape: Some of the major Companies in the Factoring Market are Deutsche Factoring Bank, Eurobank Ergasias SA, HSBC Group, BNP Paribas, Mizuho Financial Group, Inc., ICICI Bank Limited, and Axis Bank.

2. The Most Common Factoring Applications Are: Small and Medium Enterprises (SMEs) Large Enterprises Segmental Insights Trends: The Factoring Market is Segmented By Type, By Application. By Type: Domestic Factoring, International Factoring. On the Basis of By Application: Small and Medium Enterprises (SMEs), Large Enterprises. Europe dominates the global factoring market, with 66% of the total market share. Nowadays, factoring is considered as a secured short-term financing product committed to the development of economy and employment in Europe. Europe’s factoring market growth is primarily attributed to the presence of the key players, including Deutsche Factoring Bank, the Eurobank Group, HSBC Holdings, and many others. Moreover, favourable government laws also contributed to the growth of the market in the European region. In 2019, elections held in Europe and EUF leveraged this opportunity to raise awareness about factoring and to promote its benefits for the country. Regional Insights: Geographically, the Factoring Market is segmented into four regions: North America, Europe, Asia Pacific, and SAMEA. North America Europe Asia Pacific SAMEA

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