The Yapi Kredi Factoring team outlines their commitment to exporters in Turkey.
As Yapı Kredi Factoring, we established our leadership in 2001 and have carried that to 2020 with total business volume. We maintained our sector leadership with a total turnover of 19.7 billion TL and a market share of 13.26 percent. In addition, our export transactions turnover in 2020 amounted to 3.6 billion TL.
While maintaining our leadership in the sector, we continue our efforts to increase our service quality and speed without interruption. In addition, spreading the use of export factoring is among our most fundamental goals. Thanks to the fact that export factoring includes guarantees, financing, and collection services, exporters can sell to their buyers with confidence and in higher volumes. At the same time, they can open account sales opportunities with the factoring receivables to guarantee offers to their new customers.
We eliminate the risk of non-collection of receivables with our guaranteed service. We also develop a much more effective receivables management with our collection service. In addition, if our exporters request it, we regulate their cash flows by providing financing without waiting for the maturity of their receivables. Thanks to these services, we offer exporters the chance to stand out in the global competition and focus much more on their core business.
In export factoring transactions, keeping records specific to each invoice, carrying out collection follow-ups with the buyer based on invoices, and protecting the exporter's rights in case of possible objections require serious knowledge and continuous service quality. While providing our services, we benefit from the correspondent relations of the world's largest factoring chain – Factors Chain International (FCI).
As a result of all these efforts, we have always been selected as one of the "Best Export Factoring Companies" by Factors Chain International (FCI) since 2002. As Yapı Kredi Factoring, we are very happy to be second place among 195 member companies with a score of 99.6 percent in the category of "Best Export Factoring Companies", where correspondent service quality and transaction volume were evaluated in 2020. These international awards confirm our progress while motivating us to achieve even more. With our long years of experience and superior service understanding, we will stand by exporters as we always have. We will continue to set an example for our sector and fulfill our responsibility to increase the share of factoring industry in our country.