On March 12, the Factoring Road Show 2024, an event organized by Learning Editions, was held in Panama.
The event brought together leading experts to discuss the latest trends and best practices in the Factoring and Confirming sector.

José Antonio Garrote, Alvantia‘s Business Manager, had the opportunity to represent the company in this meeting, participating in the technological panel, in which he was able to explain the main differences between the European and the Spanish market and the different Latin American markets. As Garrote pointed out, the volume of business carried out in all Latin American countries represents 70% of the volume carried out in Spain, since it is a very mature market that is among the five European countries with the highest factoring activity. He also highlighted the fact that neither in Spain nor in Europe in general has the sector worked so far with electronic invoicing or a centralized repository of electronic invoices, something that is increasingly being done in South America.

Garrote also mentioned some advantages of the Confirming product regarding the Factoring product, indicating that the former can be very favorable in the Panamanian market and in the South American market in general.

This meeting, which was very enriching for all attendees, provided an opportunity to appreciate the efforts being made by the financial sector in Panama to contribute to the growth of small and medium-sized enterprises through new formulas that promote financial inclusion in the region.

Although the volume of business in the country is currently limited compared to other similar economies, there is no doubt that the Panamanian market has great potential within the Factoring and Confirming sector. In fact, several of Alvantia ‘s current clients (banks or large financial institutions) in South America are located in Panama.