Joining the IFG, the bank will also have more development opportunities in the field with partners around the world. — File Photo

HA NOI (Biz Hub) — The International Factors Group (IFG) has announced that Viet Nam Technological and Commercial Joint Stock Banks (Techcombank) has officially become the first Partner Member of the group in Viet Nam.

Accordingly, Techcombank will provide more overall import-export factoring solutions, thus diversifying business segments with more preferential price rates and better meeting the financial demands of import-export enterprises.

Joining the IFG, the bank will also have more development opportunities in the field with partners around the world.

The bank will also have access to the online information exchange and transaction system Ifexchange, helping minimise transaction time and ensuring law compliance. Founded in 1963, IFG is the global trade association that fully represents and promotes the interest of the factoring, invoice financing and asset-based lending industry on a global basis. IFG currently has 160 members from 60 countries worldwide. — VNS