On November 21st , Alvantia held its now traditional Working Breakfast at the Hotel Intercontinental with the Spanish Factoring Association (AEF). It is an informative event which aims to contribute to the development of the Factoring and Confirming industry.
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A traditional, basic approach in the problems of machine learning is to use a single determined algorithm or model in the implementation of a valid solution. This traditional method is based on creating a pipeline of all the processes that are covered by the development of this algorithm.
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Since September 1st, Fintech Finalbion moves to the avant-garde on innovation after implementing the Alvantia commercial financing platform into its own systems, backing up its disruptive business model with the most innovative technological solution on the market. Finalbion, who specializes in the financing of working capital, now operates under Alvantia platform, which has been implemented with huge success by Alvantia’s team and will be used by Finalbion from now on to manage their receivables and payables services, among others.
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As we know, women currently have very little presence in technology companies. However, recent studies show that companies would yield a much greater profit if they were to achieve equality: for example, if the UK were to increase the number of women to 30%, its economy would grow by 11 billion.
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Imagine that one day the clients of a small firm in the financial sector, whose products operate and are contracted online, cannot access their accounts, make transfers or even access the website. And they encounter the theft of their money, fraudulent use of their cards, movements of money to unknown recipients or misuse of their personal data. Without a doubt, the company would run the risk of incurring very high costs in order to deal with the claims, investigate what happened, repair the damage caused, restore operations, compensate for damages to third parties, regain the trust of its customers, etc.
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On 24 and 25 January, for the fourth consecutive year, Alvantia took part in the Supply Chain Finance Summit meeting held at the Grand Hotel Krasnapolsky in Amsterdam, bringing together the leading companies in the Reverse Factoring sector. The event, organised by BCR Publishing, had an ambitious programme focused on the latest trends in the SCF industry.
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As we saw previously in the first post, Fintechs (business players that combine ICT and finance) undoubtedly offer multiple advantages to consumers by positioning them at the heart of financial products and services. However, some concerns are arising with regards to regulation, supervision, compliance and security.
There is a symbiotic relationship between payment methods and economic activity: the evolution of means of payment has historically favoured economic development, and similarly, the evolution of economic activity has led to the modernisation of means of payment.
Cash is the most popular means of payment worldwide, used in 85% of all transactions. However, despite the overwhelming prevalence of cash as a payment method, it is slowly declining. And that 15% of non-cash transactions (9.1% credit/debit cards and 4.6% direct debits/bank transfers) is where a disruption is now occurring which will affect the entire means of payment system.
On 10 and 11 May, the Spanish Factoring Association (AEF) held its thirty-fourth General Meeting, an event sponsored by Alvantia, bringing together the main stakeholders in Commercial Financing in Spain, in order to showcase the sector’s activities. The Parador in Cádiz was the venue chosen for this year’s edition, which highlighted the sector’s favourable results in a year marked by economic growth and the 30th anniversary of the AEF. (more…)
