FactorsNetwork Launches New Product for Factors to Monitor Online Reputation

FactorsNetwork released FNReportCards, its latest product, a tool to help factoring companies monitor what is being said about them online. Participating factors will be able to lodge disputes and even put corrections on the record if they disagree with something posted about them.

“Bringing transparency to the industry and facilitating decision making through networking has always been a focus of FactorsNetwork,” Anthony Aliengena, founder of FactorsNetwork, said. “Previously, FactorsNetwork focused solely on helping factors share their trade experiences with each other on FNCreditExchange. By inverting the functionality, FactorsNetwork created FNReportCards, allowing clients and debtors to share their factoring experiences on the factor’s report card.

“There used to be lots of talk regarding the ‘eventual regulation of the factoring industry,’ but it seems that day isn’t on the horizon anytime soon, so obviously we realized a market-based approach was the next logical solution to the problem,” Aliengena said. “FactorsNetwork opted to fill the vacuum and is very excited with the paradigm shift.”