Fintech PR
Factoring Services Market Set to Hit USD 6345.43 Billion, Growing at 7.20% CAGR, Fueled by Increased Demand for Working Capital Funding, Projects Kings Research
DUBAI, UAE, Nov. 24, 2023 /PRNewswire/ — As per a recent report released by Kings Research, the global Factoring Services Market is anticipated to grow from USD 3453.32 billion in 2022 to USD 6345.43 billion by 2030, depicting a CAGR of 7.20% through the forecast period from 2023 to 2030. The primary factors fostering market growth are the surge in the need for working capital funding, the expansion of international trade, and the increasing adoption of factoring services by small and medium-sized enterprises (SMEs).
Factoring services entail financial solutions that encompass the buying and selling of accounts receivable. In this process, companies can transfer their outstanding invoices to a third-party entity, commonly referred to as a factor, in exchange for immediate cash. This service proves particularly advantageous for businesses seeking to enhance their cash flow and accelerate their receivables.
Additionally, global factoring services often grant businesses access to international markets, enabling them to broaden their customer base and augment sales. Furthermore, factoring services provide businesses with a means to mitigate the risk of non-payment by assuming the responsibility of collecting payments from customers. This obviates the need for businesses to hire additional personnel or invest in costly collection tools.
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Trending Now: Universal Partners Join Forces with Fintech Muse Finance to Develop Digital Invoice and Trade Finance Services
In June 2023, Universal Partners partnered with FinTech company Muse Finance to offer digital invoice and trade finance services. Muse Finance provides a range of digital invoice and trade finance services, including supply financing, to UK-based SMEs. The partnership aims to improve cash flow management and mitigate liquidity concerns for businesses expanding internationally. The invoice-based financing solutions allow customers to receive payment before the invoice’s settlement date or make payments to suppliers for up to 120 days.
Competitive Landscape
Prominent players in the factoring services industry are employing various business strategies, including partnerships, mergers and acquisitions, product innovations, and joint ventures, to enhance their product portfolios and bolster their market shares across different regions. These endeavors encompass an array of strategic initiatives, such as investments in R&D activities, the establishment of new manufacturing facilities, and the optimization of supply chains.
For instance, in April 2022, Eurobank Factors, a subsidiary of Eurobank, introduced enhancements to its factoring services, along with novel digital reverse factoring services. These updates aim to cater to the needs of businesses and provide them with more efficient and streamlined financial solutions.
Major players in the factoring services market include:
- altLINE
- China Construction Bank
- Deutsche Factoring Bank
- Barclays Bank PLC
- BNP Paribas Fortis
- Factor Funding Co.
- Eurobank Direktna a.d.
- HSBC Group
- RTS Financial Service, Inc.
- ICBC
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Greater Flexibility Offered by Recourse Factoring in Credit Requirements to Fuel Factoring Services Market Expansion
Based on type, the factoring services market is categorized into recourse and non-recourse. The recourse segment is estimated to dominate the market over the review period. Resource factoring involves a personal guarantee from the owner to maintain liquidity in case of bad debt and to reclaim non-performing accounts receivable held as collateral by the factor. It offers several advantages, including reduced costs and greater flexibility in advanced rates and credit requirements, among others, which is fueling the expansion of this segment.
Increasing Significance of Electronic Invoices to Propel Factoring Services Market Growth
Based on category, the factoring services market is segmented into domestic and international. The domestic segment is projected to attain a significant share in the market over the assessment period, driven by the widespread adoption of factoring receivable methods across diverse industries owing to their proven efficacy. Moreover, the increasing significance of electronic invoices has played a pivotal role in strengthening the position of the domestic factoring sector.
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Digitalization of Factoring Processes and Adoption of Cutting-Edge Technologies to Aid Factoring Services Market Progress
The market for factoring services is witnessing robust expansion driven by various factors. These include the escalating demand for working capital financing, the upsurge in international trade activities, and the growing preference for factoring services among small & medium-sized enterprises (SMEs). Moreover, the market growth is being propelled by the digitalization of factoring processes and the prevalent adoption of cutting-edge technologies like artificial intelligence and blockchain.
Increased Focus on Export Business Factoring Services to Foster Europe Factoring Services Market Outlook
Europe is poised to maintain its dominance in the market through the forecast period, primarily driven by the soaring emphasis placed by transportation companies on export business factoring. The emergence of promising start-ups in the factoring services sector across countries such as Italy, Germany, the United Kingdom, Romania, and Sweden are further supporting market growth. Furthermore, substantial investments by the European Union (EU) in factoring services for small and medium-sized enterprises (SMEs) and organizations operating in the manufacturing and engineering domains are significantly boosting regional industry growth.
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Burgeoning Manufacturing Sector in APAC to Aid Global Factoring Services Market Progress
Asia-Pacific is poised to experience remarkable growth in the factoring services market from 2023 to 2030. This regional market expansion is attributed to the burgeoning manufacturing sector in major countries such as India and other nations in South and Southeast Asia. The rapid transformation of these economies from predominantly rural to manufacturing and export-oriented is a key driver, contributing significantly to the robust growth of the factoring services industry in the region.
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Key Points from TOC:
Chapter 1 Introduction of the Global Factoring Services Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Factoring Services Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Factoring Services Market, By Type
Chapter 7 Global Factoring Services Market, By Category
Chapter 8 Global Factoring Services Market, By Provider
Chapter 9 Global Factoring Services Market, By End User
Chapter 10 Global Factoring Services Market, By Geography
Chapter 11 North America
Chapter 12 Europe
Chapter 13 Asia Pacific
Chapter 14 Middle East & Africa
Chapter 15 Latin America
Chapter 16 Global Factoring Services Market Competitive Landscape
16.1 Overview
16.2 Key Developments
16.3 Key Strategic Developments
16.4 Company Market Ranking
16.5 Regional Footprint
16.6 Industry Footprint
Chapter 17 Company Profiles
17.1 altLINE
17.1.1 Key Facts
17.1.2 Financial Overview
17.1.3 Product Benchmarking
17.1.4 Recent Developments
17.1.5 Winning Imperatives
17.1.6 Current Focus & Strategies
17.1.7 Threat from competition
17.1.8 SWOT Analysis
17.2 China Construction Bank
17.2.1 Key Facts
17.2.2 Financial Overview
17.2.3 Product Benchmarking
17.2.4 Recent Developments
17.2.5 Winning Imperatives
17.2.6 Current Focus & Strategies
17.2.7 Threat from competition
17.2.8 SWOT Analysis
17.3 Deutsche Factoring Bank
17.3.1 Key Facts
17.3.2 Financial Overview
17.3.3 Product Benchmarking
17.3.4 Recent Developments
17.3.5 Winning Imperatives
17.3.6 Current Focus & Strategies
17.3.7 Threat from competition
17.3.8 SWOT Analysis
17.4 Barclays Bank PLC
17.4.1 Key Facts
17.4.2 Financial Overview
17.4.3 Product Benchmarking
17.4.4 Recent Developments
17.4.5 Winning Imperatives
17.4.6 Current Focus & Strategies
17.4.7 Threat from competition
17.4.8 SWOT Analysis
17.5 BNP Paribas Fortis
17.5.1 Key Facts
17.5.2 Financial Overview
17.5.3 Product Benchmarking
17.5.4 Recent Developments
17.5.5 Winning Imperatives
17.5.6 Current Focus & Strategies
17.5.7 Threat from competition
17.5.8 SWOT Analysis
Continued…….
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About Us:
Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.
Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions.
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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