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A New Risk-Management System for Innovative Factoring

Factris has received EU funding to create a risk-management system with AI to solve financing problems for SMEsThe fintech company Factris  has just received a grant of 1,4MM from the EU to fund the development of an automated risk-management system that uses artificial intelligence (AI) technology. The total project amount is 1,95MM. This new system will solve an enormous problem that affects small businesses across Europe. This problem has to do with risk. When a business factors their unpaid invoice, they sell it to a factoring company for a fee that

“Factoring” Changed How SMEs Did Business in 2019

- Year-end results show a significant shift in SME financing across Europe - New financing solutions have expanded possibilities for SMEsNew financing solutions changed how small and medium-sized enterprises (SMEs) did business throughout Europe last year, as shown by the year-end results from the fintech company Factris . The results from the Netherlands-based company revealed a sharp increase in alternative-financing activity in 2019, as well as a change in what those customers could achieve by financing their invoices via “factoring”.  Factris reported more

Netherlands Construction and Manufacturing Slows

Dutch construction and manufacturing companies are hampered by reduced demand, emissions issues and skilled labour problemsRecent reports from the credit insurance company Atradius reveal signs of a slowdown in Dutch construction and manufacturing. The report  on manufacturing revealed that, despite robust growth and high demand in 2018 and H1 of 2019, recent downsides are being felt in the Dutch metal and steel sector. Along with reduced automotive demand, part of the slowing could be attributed to

How to prepare your SME for a financial slowdown after Christmas

While many dreams of what awaits them beneath glimmering wrapping paper, others anxiously face an avalanche of business activity that they can hardly keep up with - only to be left feeling financially out in the cold when it’s all done. What can help your SME during the post-Christmas decline? You might be wishing, “If only I could evenly spread all of that business activity throughout the year!” While you might get what you wish for, under the tree, you won’t get that Christmas wish. Learn to accept reality: Those booming holiday months don’t last. So when (not if) things slow down,

Factris: EU Banks to restrict lending to SMEs

· A regulatory framework for banks will soon change across Europe · SMEs trying to secure loans from banks will suffer the most from these changes · 70% of SMEs rely on bank loans, signalling trouble for millions of small businessesChanges in regulations across the EU will create new problems on small and medium-sized enterprises (SMEs) in an already difficult lending environment. These changes, set to take effect by 2022, will increase funding costs for banks and will thus make loans subject to increased scrutiny. This, in turn, means fewer loans will be issued to SMEs - especially

More small businesses say NO to banks in 2019

Alternative-banking solutions are catching on at an exponential rate across EuropeFactris  has published results for the first half of 2019 demonstrating the growth in alternative financing solutions. The report showed that from January to June of 2019, customer involvement with the company grew tremendously in comparison to 2018, revealing a significant shift in how small business financing is taking place. The details contained in the report show that more than ever, small and medium enterprises (SMEs) across Europe are starting to reject traditional banking in

Why a successful business doesn’t just look ahead - they also address what’s still behind them

Late payments are toxic to the growth, profitability and sustainability of your business. What can your business do about this debilitating problem?Ask yourself a question: Is your business moving forwards or backwards? Many would enthusiastically respond, “forwards!”, perhaps with a focus on growing a greater customer base, acquiring more accounts, diversifying what they offer, etc. Certainly, these are fine goals that promote growth and success. However, you need to ask yourself another question that can be just as important: Have you given attention to what’s still behind you? Late

Empowering small business: Factris Disrupts Traditional European Financing with New Platform

The platform forges new ways to make financing easier and more available for small and medium businessesFintech company Factris  has launched a new version of their Finance Automation for Business platform or the “FAB” platform for short. This new platform is a crucial piece of the puzzle for Factris that will be used to support their aim of reinventing and improving how business financing takes place. The FAB platform will allow the Amsterdam-based company to support their local sales teams and partners in cities across Europe, which will significantly increase

Factris Launches Financial Services in Latvia

· The company Factris is positioning itself for success with its unique offering in the SME market. · Factris has already experienced rapid growth with its innovative financial solutions personalised for its customers.Factris  announced the launch of financing services uniquely suited for small and medium-sized enterprises in Latvia through its wholly-owned subsidiary, based in Riga. The Latvian market is ripe for alternative financing, and Factris has positioned itself to seize this opportunity. Momentum is growing with Factris having onboarded a number of

How your seasonal SME can weather challenges throughout the year

An age-old proverb to anticipate what the weather will bring goes like this: “Red sky at night, sailor’s delight; Red sky at morning, sailor take warning”. In order to plan ahead, sailors need to know what weather awaits them: When will the sea will be smooth-sailing? Or does a shipwrecking-storm lie ahead?Anticipating the future for your seasonal SME You need to ask the same questions about what lies ahead for your seasonal SME to successfully stay afloat. What opportunities and what challenges will come your way, and how can you plan accordingly? Here are some common problems your

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