What is FCI?
Established in 1968, FCI has grown into the world’s largest factoring network. It consists of leading factoring companies whose aim is to facilitate international trade through factoring and related financial services.
How Hana became a member of FCI:
In April 2004, Hana Financial became a member of Factors Chain International (FCI), the world’s largest factoring organization. FCI members encompass 252 factoring companies in 66 countries. Only 8 factoring companies out of 110 factors in the United States are currently FCI members.
Benefits of being a member of FCI
Being a member of FCI better enables Hana Financial to support clients’ growth by accommodating their financial needs in international transactions.
Companies who want to expand their business beyond U.S. borders quite often face obstacles from foreign buyers with respect to credit protection and payment collection. To address these issues, Hana’s import and export trade factoring service through FCI delivers added assurance to such clients by providing critical information about customers in their respective countries along with risk-free credit protection. Other benefits include:
- A global network of first-class factoring companies
- Modern and effective communication systems that enables cost-efficient business practices
- A reliable legal framework to protect exporters and importers
- Standard procedures aimed at maintaining a universal quality
- Worldwide promotion aimed at positioning international factoring as the preferred method of trade finance