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Published Articles

Fintech in Receivables Finance: Strategic Positioning & Cooperation By Igor Zaks

Igor Zaks , President of Tenzor Ltd., and Co-Founder of 40Seas, published an article, Fintech in Receivables Finance: Strategic Positioning & Cooperation, in the World Factoring Yearbook 2024, which is available to purchase at the following link: https://bcrpub.com/world-factoring-yearbook-2024 In my first corporate job (I moved there from banking), I got a great pitch from one of the major banks that… Read More »Fintech in Receivables Finance: Strategic Positioning & Cooperation By Igor Zaks

Greensill crisis – some observations for the
post-Greensill world

Igor Zaks, President of Tenzor Ltd. published a new article, Greensill crisis – some observations for the post-Greensill world in the World Supply Chain Finance Report 2022 by BCR Publishing. The ongoing Greensill crisis draws a lot of attention to multiple areas, including supply chain finance, credit insurance, securitisation, use of AI, fund managers, VC investors and others. This article… Read More »Greensill crisis – some observations for the
post-Greensill world

Building and Managing Receivables Finance Platforms

Igor Zaks, President of Tenzor Ltd. published a review, Building and Managing Receivables Finance Platforms, Core strategic and operational considerations. A growing market for receivables finance platforms has created a whole ecosystem with investors, insurers, service providers and other players being involved. It has deployed various structures and technology solutions. In this paper, we look at drivers for growth, types… Read More »Building and Managing Receivables Finance Platforms

Greensill and insurers – the story is just beginning

Igor Zaks, Editorial Board Member of TRF News and President of Tenzor Ltd, explains the recent developments in Greensill case and how these impact the credit insurance industry. Insurance Claims As it just started to appear, most of the Greensill story followed the headlines, and new development occurred. January 13th, Credit Suisse announced it filed five insurance claims related to US$1.17bn in exposure… Read More »Greensill and insurers – the story is just beginning

Greensill: The lessons for credit insurers by Igor Zaks

Igor Zaks, President of Tenzor Ltd., published a new article in Berne Union Yearbook: Greensill: The lessons for credit insurers. It looks at the potential consequences of Greensill story for credit insurance, draws parallels with some aspects of the 2008 crisis, and investigates various steps the industry might take to mitigate the impact and turn the crisis into a great… Read More »Greensill: The lessons for credit insurers by Igor Zaks

Receivables platforms- key considerations by Igor Zaks

Igor Zaks, Editorial Board Member of TRF News and President of Tenzor Ltd, describes below the key considerations for receivables finance platforms.  Recently, we saw significant growth of receivables based platforms. Several major trends contributing to its growth are: Covid-19 move to digitalisation. With less face-to-face contact and perceived reduction of relationship component, more companies consider digital platforms as an alternative to traditional banks and… Read More »Receivables platforms- key considerations by Igor Zaks

Supply chain finance - some thoughts about fundamentals Igor Zaks TRF News

Supply chain finance – some thoughts about fundamentals

Supply chain finance – some thoughts about fundamentals With recent events (Greensill, Carillion and Abengoa before), supply chain finance (SCF) got in the spotlight. Accountancy bodies (both IFRS and FASB) are looking into disclosure requirements, rating agencies (such as Fitch) into debt reclassifications, various government inquiries questioning its use, etc. While it appears so far knee jerk reaction was mainly avoided,… Read More »Supply chain finance – some thoughts about fundamentals

TRF news - Igor Zaks

Greensill – lessons in structuring and due diligence

Igor Zaks , President of Tenzor Ltd, published on the lessons from the Greensill crisis at TRF News, leading publication on factoring, supply chain finance, trade receivable securitization, and receivable based products Greensill – lessons in structuring and due diligence The collapse of Greensill Capital and the ripple effects from it caused multiple questions about underlying structures, roles of different… Read More »Greensill – lessons in structuring and due diligence

Greensill: Lessons, impact, and opportunities for insurers

Igor Zaks, CFA, President of Tenzor Ltd., published an article, Greensill: Lessons, impact, and opportunities for insurers at The International Union of Credit and Investment Insurers, Berne Union.Greensill Capital’s recent problems have highlighted the many different products and industries that were somehow featured in its structures. Supply chain finance and credit insurance were dragged into the discussion. Based solely on public… Read More »Greensill: Lessons, impact, and opportunities for insurers