HPD Lendscape, a leading international secured-lending platform vendor, 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.
Fausto Galmarini, Chairman of Assifact, said: “Assifact is delighted that HPD Lendscape has joined our supporting members and looks forward to cooperating in the best interest of the Italian factoring industry.”
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.”
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