World of Open Account aims to share knowledge and expertise in open account receivables finance, which is an important part of financing the real economy, particularly for SMEs. It is a global network whose mission is to increase the understanding and adoption of receivables finance.
FCI is a non-profit global association that promotes cross-border cooperation between factoring organisations and service providers.
Trade Ledger already supports a number of World of Open Account and FCI members, such as Bibby Financial Services. By joining the two organisations, Trade Ledger will have the opportunity to further expand its growing presence within commercial lending technology and deliver its innovative platform to the business finance sector.
Martin McCann, CEO and co-founder of Trade Ledger, said:
"Our mission is to provide the technology and insight to accelerate and transform business finance, in particular SME and mid-market lending, unlocking economic growth and social mobility. For lenders today, having an end-to-end, automated, fully configurable platform should be the norm. As we have moved from an industrial to a knowledge-based economy, it’s time for financial institutions to reimagine their secured and unsecured business finance products.”
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