Are Fintech companies ready for Factoring?

Are Fintech companies ready for Factoring?

24 November 2018 by Erik Timmermans

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article by WOA member Christian Faber

Today, Fintech companies have established themselves as a fixture in the German factoring market. The question remains, however, are Fintech companies ready for factoring? This question is being actively discussed in the factoring industry. Digitalization is fundamentally changing factoring. What the perfect package composition will look like in the future will be interesting to follow. The market has unveiled interesting trends. This article provides a detailed overview of legal issues associated with licensing in accordance with the Banking Act, customer identification, risk management, cooperation and outsourcing, as well as fraud prevention.

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