FACTORING FORUM 2019

CODIX TOOK PART IN FACTORING FORUM 2019, Düsseldorf

The digitalization with no doubt is one of the major challenges that the factoring companies face and should address with the highest priority. This was highlighted by the participants in the past Factoring FORUM 2019 in Duesseldorf, Germany, the 27th and 28th of February. Nearly 160 leading experts discussed the market trends and developments, important for the financial industry, as well as the massive impact caused by authorities and regulations. CODIX, as a world leading software company providing the right solution for many areas in the financial sector, took the opportunity to present its unique product – iMX, at this valuable event for the factoring industry in Germany, Austria and Switzerland.

The market situation of Factoring and related businesses was analyzed taking into consideration international changes but also European and local changes in the market. A couple of new developments in the factoring business driven by Fintechs have also been discussed.

Factoring market figures are constantly growing and respectively the number of clients is increasing even more dynamically. Currently, more than 36,000 clients in Germany use factoring as an alternative method of financing. The members of the German factoring association represent around 98% of the factoring market, organized in associations in Germany, measured by the factoring turnover. The figures of the German factoring association are therefore the leading benchmark of the whole German factoring market.

The international event focuses on market trends and developments, important for the financial industry.This year’s main topics of the discussions was "Sales" and "platforms for factoring". Platforms provide mass product and distribution partnerships and are considered to be the central business model of the digital economy. The forum give an overview of the current situation "platforms for factoring": opportunities, risks, business models and special features. The event brings together leading experts to discuss innovative decision-making for business issues and information about market trends, latest developments, sales strategies, law and regulations aspects.