Reliable sources indicate that Secure Trust Bank part of Arbuthnot Banking Group may be launching an invoice finance business in the near future. They have recruited John Bevan a former Head of Barclays Trade and Working Capital UK & Ireland. John Bevan is a very experienced person who has held senior positions in the sector over a number of years. This appointment is a clear statement of intent.
What is surprising is that six years ago Arbuthnot Banking Group sold their subsidiary factoring company, Arbuthnot Commercial Finance Ltd to Bibby Financial Services . Their return to the sector appears as a result their belief that the larger Banks are not really providing funding to the SME market and that there is now a new gap in the market for a new factoring company.
Whilst it is true that the mainstream Banks are not as active in the SME market as we would hope there are is now a considerable number of invoice finance companies offering a range of different products and services. Some are quite traditional whilst other are innovative. It will be interesting to see what Secure Trust will be offering that makes them different from the rest.
What is surprising is that six years ago Arbuthnot Banking Group sold their subsidiary factoring company, Arbuthnot Commercial Finance Ltd to Bibby Financial Services . Their return to the sector appears as a result their belief that the larger Banks are not really providing funding to the SME market and that there is now a new gap in the market for a new factoring company.
Whilst it is true that the mainstream Banks are not as active in the SME market as we would hope there are is now a considerable number of invoice finance companies offering a range of different products and services. Some are quite traditional whilst other are innovative. It will be interesting to see what Secure Trust will be offering that makes them different from the rest.
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