{"id":3237,"date":"2019-05-09T15:35:53","date_gmt":"2019-05-09T14:35:53","guid":{"rendered":"https:\/\/www.alvantia.com\/?p=3237"},"modified":"2019-05-10T12:39:01","modified_gmt":"2019-05-10T11:39:01","slug":"the-aef-confirms-the-relentless-growth-of-the-sector-at-its-36th-general-meeting","status":"publish","type":"post","link":"https:\/\/www.alvantia.com\/en\/the-aef-confirms-the-relentless-growth-of-the-sector-at-its-36th-general-meeting\/","title":{"rendered":"The AEF confirms the relentless growth of the sector at its 36th General Meeting"},"content":{"rendered":"\n

On 25 and 26 April, the Spanish Factoring Association<\/strong><\/a> (AEF) held its thirty-sixth General Meeting at\nthe emblematic Hotel Carlton in Bilbao. Once again, Alvantia sponsored this event, which brings together\nthe main players in the commercial finance industry in Spain. <\/p>\n\n\n\n\n\n\n\n

The Meeting was opened by Carlos Garc\u00eda Casas<\/strong>, chairman of the AEF, who highlighted the\nhealthy state of Factoring and\nConfirming<\/strong> operations in our country. According to Garc\u00eda Casas, the\nincorporation of innovative tools and digital technology into these financing\nsystems has been key to their growth compared with other traditional payment\nsystems. The expert asserted that following the good results recorded in 2018\n(a year in which Factoring and Confirming accounted for no less than 19.4% of\nGDP), “the market will continue to grow”, estimating an increase of\nbetween 5% and 10% in 2019. To conclude his speech, Garc\u00eda Casas recalled the\nimportance of using the single format for Confirming remittances.<\/a><\/p>\n\n\n\n

The Meeting agenda included interesting\npresentations such as the one given by Lluis\nSagrista<\/strong> (Caixabank) on electronic\ninvoicing<\/strong>, regarding which he stated that, although in theory “it\nshould be completely compatible with Factoring”, in practice there are\nthree fundamental aspects that “make them incompatible”: <\/p>\n\n\n\n

– The fact that the financial sector opted too\nsoon for electronic invoicing.<\/p>\n\n\n\n

– The lack of interoperability between the\nmajor electronic invoicing platforms.<\/p>\n\n\n\n

– The Factoring industry still has to change\nits circuits to implement electronic documentary supports. <\/p>\n\n\n\n

During the Meeting the interest of the AEF in\nintroducing Blockchain<\/strong> technology\ninto the Factoring industry with the main aim of reducing fraud was also\nevidenced. Alma Mar\u00eda Abad<\/strong>\n(Caixabank) delivered a presentation on this space in which the advantages that\nthe use of this insuppressible technology can bring to the industry were\nexpounded, including most notably the ability to avoid the multiple assignment\nof a single commercial credit by one assignor to more than one Factor\n(Factoring Company).<\/p>\n\n\n\n

During the second day of the event, M\u00f3nica Mart\u00edn Blanco<\/strong> (Key Asset Consulting)\nreviewed several examples of different Integrated Supply Chain (ISC) solutions\nin Asian countries. She indicated that in many of these countries it has been\ndetected that the main players in the supply chain prefer the information to be\nhandled by an independent and impartial third party that can reduce\nopportunistic behaviour. “It has been decided that this information will\nbe processed by financial institutions due to the security, guarantee and\nstability they offer,” said Mart\u00edn Blanco, who ended his presentation by\nhighlighting the important role of confirming in various developing countries:\n“It is used as a lever to break the customs and habits that anchor these\ncountries in obsolete forms of financing that undermine the evolution of other\nsocial structures.” <\/p>\n\n\n\n

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Afterwards, the CEO of Alvantia, Roberto Guti\u00e9rrez, had the opportunity to\nconvey to the associates the advantages of integrating in their systems our\ncommercial finance platform, a tool with great functional capacity, a\nconstantly growing innovative architecture which is easy to integrate, use and\naccess. A solution that was born as the result of the synergy of a team of\nsenior commercial finance consultants, with a long track record in the\nindustry, and a group of technicians specialised in the most advanced\ntechnologies. A heterogeneous team that have been able to combine experience\nand innovation to lead the development of commercial finance solutions in\nSpain.<\/p>\n\n\n\n

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Subsequently, Joseba Madariaga<\/strong> (Caja Laboral) addressed the current economic situation in Spain<\/strong> in his\npresentation. Although he highlighted its good health in the short term, he\nexpressed uncertainty as to the medium and long term, pointing out the main\nchallenges that the country will have to face in the future: high indebtedness,\nthe pension system, low productivity and the situation of the labour\nmarket.  \n\nThe event ended with a\nround-table discussion moderated by Carlos\nDalmau<\/strong> (Banco Sabadell) with the participation of Alma Mar\u00eda Abad<\/strong> (Caixabank), Nieves\nGonz\u00e1lez<\/strong> (BNP Paribas Factor), Mar\u00eda\nLafita<\/strong> (Credit Agricole L&F) and M\u00f3nica\nMu\u00f1oz<\/strong> (Deutsche Bank). Among other topics, they talked with the rest of the\nassociates about the future of FinTech<\/strong>\nwithin the sector, an issue on which there was a clear consensus: they have\nreached the market covering a very specific niche, focusing on a target that is\noften not covered by the big commercial finance operators. This is why FinTech\nwill not become a substitute for banks, but rather it will supplement\nthem.  \n\n\n\n<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

On 25 and 26 April, the Spanish Factoring Association (AEF) held its thirty-sixth General Meeting at the emblematic Hotel Carlton in Bilbao. Once again, Alvantia sponsored this event, which brings together the main players in the commercial finance industry in Spain.<\/p>\n

Continue Reading<\/i><\/a><\/p>\n","protected":false},"author":5,"featured_media":3173,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[186,227,212,231,207],"tags":[34,9,18],"class_list":["post-3237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alvantia-2","category-banking","category-confirming-en","category-events","category-factoring-en","tag-alvantia","tag-confirming","tag-factoring","not-single"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/posts\/3237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/comments?post=3237"}],"version-history":[{"count":3,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/posts\/3237\/revisions"}],"predecessor-version":[{"id":3244,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/posts\/3237\/revisions\/3244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/media\/3173"}],"wp:attachment":[{"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/media?parent=3237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/categories?post=3237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alvantia.com\/en\/wp-json\/wp\/v2\/tags?post=3237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}