Factors Chain International is a global association for the Open Account Receivables Finance Industry.
FCI was set up in 1968 as an umbrella organization for independent factoring companies around the world. Today FCI has grown into the world's representative factoring network and association with more than 400 members in 90 countries.
When FCI was founded, domestic factoring was only available in North America and a few European countries. The concept of cross-border factoring was still new and restricted by its lack of geographic coverage.
The founding members of FCI saw the potential for international factoring, but realized that their umbrella organization was needed for two reasons
1. To introduce the concept of factoring in countries where the service was not yet available.
2. To develop a framework for international factoring that would allow factors in the country of both the exporter and the importer to work closely together.
In 2016 the activities of IFG (International Factors Group) were integrated into FCI. Now, FCI is truly the global representative body for the Factoring & Receivables Finance Industry.
FCI offers three major areas of activities
The Business network supports cross-border factoring activities through which its members cooperate as export and import factors.
FCI promotes and develops best practices in both domestic and international factoring and related Open Account Finance products.
FCI promotes and defends the Industry with stakeholders and policy makers worldwide