On 22 May 2023, Clifford Chance's Canary Wharf offices hosted the 5th annual Receivables Finance International (RFIx) Awards ceremony. The event preceded the 23rd annual RFIx Convention and recognised the achievements of various entities in the receivables and payables finance industry, including banks, non-banks, fintechs, consultancies, and legal advisors.
We are thrilled to announce that Lendscape won the Receivables Finance Technology Solution Provider of the Year Award - an accomplishment that reflects the hard work, commitment and dedication of our team to providing simple, smart business finance technology. Our thanks go to the judges for your recognition and huge congratulations to of the winners on the night.
The Receivables Finance International Convention (RFIx) brought together players from across the market and provided an essential update on the latest invoice financing trends, market challenges, and financial innovation.
Some highlights from the event include:
· Marc Auboin, Economic Counselor, Economic Research and Statistics Division at the World Trade Organization shared his outlook for global trade
· Professor Edward I. Altman, Director of Research, Credit and Debt Markets, at the New York University Salomon Center for the Study of Financial Institutions, presented on zombie companies ("walking-dead" businesses that have become insolvent by some definitions and would cease operations under normal circumstances) that continue to operate owing to factors such as government support or financial institution aid
· An expert panel debate on market development and business model evolution. All panellists agreed that "not all products will have the same impact", and that changes will be afoot due to new ways of working and new entrants partnering with larger financial institutions
· Duncan Mavin, Editor and Columnist, The Washington Post, and Author of The Pyramid of Lies: Lex Greensill and the Billion-Dollar Scandal, participated in a fireside chat discussing Greensill's story
· Peter Mulroy, Secretary-General of the FCI shared his analysis of global factoring industry trends from the last 12 months.
We wanted to thank BCR for making this event possible, and we look forward to reuniting with our esteemed industry peers at next year's Convention.
In closing, we’ve included some pictures from the Receivables Finance International Awards and Convention (RFIx23) below.
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