IFG’s 53rd annual meeting took place Vienna, Austria on 18-21 October 2015. The leading global conference for factoring, receivables financing and asset-based finance brought together various decision-makers in the factoring, receivables financing and asset-based finance industry. It was an opportunity for industry professionals to discuss, plan and create new business opportunities, network and develop business relationships.
LCI attended the IFG Conference, and was represented by Mr. Karim Nasrallah (General Manager) and Mr. Michael McPhilimey (Advisor to the Board).
The conference was a platform for discussing ideas and challenges such as:
- Opportunities for Multilateral Banks in the Factoring Industry
- Innovation and Product Development
- Global Supply Chain Finance Standard Definition
- The world of crowdsourcing: examples, success stories, application in the receivables finance industry
Multiple panels were held throughout the conference to explore the following topics:
- IFG’s role in UNCITRAL and the harmonization of Trade Law and Secured transactions
- Challenges and Opportunities for the Factoring Industry in East Europe and CIS countries
- Business Opportunities for IFG members through Cooperation with Asset Based Lenders in cross-border deals
Breakout sessions also took place during the meeting as a form of moderated discussion of the following topics:
- Impact of Digitization on the Factoring Industry
- Compliance Issues (Basel, Conduct Risk, AML etc.) – what role IFG can play as well as how technology can support compliance
- IFG’s new business proposals for members in areas such as SCF, Certification etc.
The three day conference was followed by a networking day visiting Vienna’s highlights during the day and Farewell Viennese evening at the Heuriger.
LCI joined IFG in December 2014 and is the first Trade Credit Insurer to join as an Associate Member.