HPD LENDSCAPE Deepens Commitment to Italian Market by Becoming Official Member of Assifact, the Italian Factoring Association
- Banking , Security
- 12.05.2021 10:05 am
HPD Lendscape, a leading international secured-lending platform vendor, today announces that it has become an official member of Assifact, the Italian Factoring Association. The announcement comes at a time when HPD Lendscape is particularly focused on serving the Southern European market, having recently also become an official member of The Spanish Association of Factoring.
Assifact is a non-political and non-profit organization established in 1988 with the aim of aggregating factoring operators and facilitating the development of the factoring market in Italy. Today, the Association represents 34 factoring companies, banks and financial intermediaries (which make up the substantial totality of the Italian market) and 12 service companies and professional firms.
Membership to Assifact brings HPD Lendscape closer to banks and financial institutions in Italy, to whom it offers the highest level of service, in turn making it easier and faster for SMEs that have been negatively impacted by the pandemic to get the funding they need. Factoring, along with wider bank support and government initiatives, is a major route to liquidity for Italy’s SMEs. The total factoring turnover made by Assifact members in 2020 was €228bn, equal to approximately 13% of GDP.
Assifact ensures the monitoring of the main market and regulatory changes, providing support to the Associates and analysing the consequent implications for the sector. It carries out sector research, develops industry guidelines and offers training courses to its Associates. Assifact is also a member of the EU Federation for the Factoring and Commercial Finance Industry, which has a direct relationship with the ECB, EBA and other supranational bodies.
Claudia Perri, Regional Commercial Director for SEMEA of HPD Lendscape, said: “We are excited to work closer with Assifact, its members and to contribute to the acceleration of the digital transformation of factoring and confirming in Italy, and help local financial institutions engage in more diversified customer-centric services that create and sustain the corporate advantage.”
Kevin Day, CEO of HPD Lendscape, said: “We’re delighted to have been accepted as a member of Assifact. Membership will ensure we offer the Italian market improved support, and we hope to contribute with our international industry expertise and best practices to Assifact, helping banks and non-bank lenders provide much needed funding and liquidity to Italy’s SMEs. Membership shows our increasing focus on serving Italy and the wider Southern Europe region, and we look forward to working together closely with other Assifact members to promote and enhance the Factoring profession in Italy.”
Fausto Galmarini, Chairman of Assifact, said: “Assifact is delighted that HPD has joined our supporting members and looks forward to cooperating in the best interest of the Italian factoring industry.”