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Factoring Market to Grow by USD 2.2 Trillion (2024-2028) Driven by MSMEs’ Need for Alternative Financing, AI’s Role in Market Trends – Technavio Report

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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global factoring market size is estimated to grow by USD 2.19 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.8% during the forecast period. Growing need for alternative sources of financing for msmes is driving market growth, with a trend towards advent of blockchain in factoring services. However, fluctuations in global economic conditions poses a challenge. Key market players include ABS Global Factoring AG, American Receivable, Bluevine Inc., CapitalPlus Construction Services, CG24 Group AG, Charter Capital Holdings LP, Deutsche Leasing AG, eCapital Corp., Factor Funding Co., HSBC Holdings Plc, Mizuho Financial Group Inc., New Century Financial Inc., Pincap., PMFBancorp, Riviera Finance of Texas Inc., Societe Generale SA, The Southern Banc Co. Inc., Triumph Business Capital, Universal Funding Corp., and Worldline SA.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Factoring Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.8%

Market growth 2024-2028

USD 2196.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.49

Regional analysis

Europe, APAC, South America, North America, and Middle East and Africa

Performing market contribution

Europe at 57%

Key countries

UK, China, France, Germany, and US

Key companies profiled

ABS Global Factoring AG, American Receivable, Bluevine Inc., CapitalPlus Construction Services, CG24 Group AG, Charter Capital Holdings LP, Deutsche Leasing AG, eCapital Corp., Factor Funding Co., HSBC Holdings Plc, Mizuho Financial Group Inc., New Century Financial Inc., Pincap., PMFBancorp, Riviera Finance of Texas Inc., Societe Generale SA, The Southern Banc Co. Inc., Triumph Business Capital, Universal Funding Corp., and Worldline SA

 

Market Driver

The blockchain technology underpinning Bitcoin is revolutionizing various industries, including factoring. This technology’s potential to transform exchanges, such as the stock market and patent awarding, is evident with NASDAQ’s implementation. The global blockchain technology market’s growth in the BFSI sector is driven by increasing investments from governments like the UK, Canada, Russia, and China. In the future, blockchain will significantly impact trade finance, with developed nations testing its affordability. Compliance with anti-money laundering and KYC regulations will be challenges, but continuous innovation will reduce setup costs and positively affect the global factoring market. This technology will digitize the process, offer better recording technology for trade transactions, and provide easy access to information about factors, buyers, and sellers, reducing risks for all stakeholders. 

The factoring market is experiencing significant trends in the international fintech sector, with licensed e-money institutions and payment service providers offering automated solutions for businesses. Banks and third-party insurers collaborate to provide secure factoring services, utilizing data-driven decision-making and invoice factoring. Companies like FundBox and Unicsoft offer innovative solutions using blockchain technology, ensuring secure transaction processes and credit risk mitigation. Businesses can benefit from growth opportunities in domestic, international, cross-border, export factoring, and open account terms. Information technology plays a crucial role, with smart contracts on Ethereum, NEO, Hyperledger, and R3CORDA streamlining the factoring process. Loans are provided in a secure manner, supporting businesses’ financial needs and improving liquidity. Exporters and importers can mitigate bankruptcy risks and increase sales volume with factoring services. Financial frauds are minimized using centralized and encrypted approaches. Crypto-solutions are also emerging as a new trend in the factoring market. 

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Market Challenges

Economic uncertainty poses significant challenges to the global factoring market. Fluctuations in economic conditions, such as recessions or currency devaluations, increase the risk of client defaults. This volatility makes it difficult for factoring companies to accurately assess creditworthiness and manage risks, threatening the predictability of cash flows and the reliability of collateral. Moreover, economic uncertainty complicates revenue and profitability forecasting, leading to hesitancy among investors and lenders. Factoring firms must adapt to market conditions, navigate risks, and maintain liquidity. Robust risk mitigation measures are essential to address the complexities of decision-making and external shocks, ensuring the resilience and growth of the global factoring market.The Factoring Market encompasses various industries like laboratory services, ambulatory services, health centers & hospitals, home health agencies, rehabilitation centers, and more. Sellers, mainly small and medium-sized enterprises (SMEs), face challenges in managing their accounts receivables, especially when dealing with unpaid bills from buyers in the healthcare sector. Factors offer flexible financing alternatives by purchasing invoices at a discounted rate, providing sellers with immediate funds. However, factors charge discount rates, interest, and commission fees. Financial service providers, including banks, play a crucial role in the factoring market. They facilitate the transfer of funds between the seller and the factor. The globalization of commerce and economic swings pose challenges, necessitating regulatory changes and industry trends. Fintech solutions, such as digital money transfer and payments, have increased adoption rates, improving budgeting, financial planning, borrowing, saving, investment, and insurance for small business owners. Despite these benefits, factors must navigate economic swings, regulatory changes, and industry trends to maintain liquidity and operational activity.

For more insights on driver and challenges – Request a sample report!

Segment Overview

This factoring market report extensively covers market segmentation by

Type 1.1 Domestic1.2 InternationalApplication 2.1 SMEs2.2 Large enterpriseGeography 3.1 Europe3.2 APAC3.3 South America3.4 North America3.5 Middle East and Africa

1.1 Domestic- In the realm of business finance, domestic factoring refers to a transaction where all parties involved – the factor, buyer, and seller – are based in the same country. This arrangement offers several advantages, particularly for small and medium-sized enterprises (SMEs) that may struggle to secure traditional bank loans due to insufficient credit histories or collateral. Domestic factoring provides these businesses with a viable alternative to maintain cash flow and foster growth. Additionally, the surge in e-commerce and online businesses has heightened the need for quick financing solutions. Domestic factoring caters to this demand by offering short-term working capital against accounts receivables, enabling sellers to access cash for domestic sales. This financing method is popular in regions such as APAC, Africa, and South America, where the number of domestic businesses is on the rise. Consequently, the domestic segment of the global factoring market is anticipated to expand at a faster rate during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Factoring Market is experiencing significant growth due to the increasing adoption of advanced technologies like Machine Learning (ML) and Artificial Intelligence (AI) in financial institutions’ accounts receivable processes. Traditional methods like cheques are being replaced by electronic alternatives, leading to automation and increased efficiency. On-premise deployment is giving way to cloud-based models and digital documentation, enabling real-time access to information. AI-based models are revolutionizing the factoring industry by providing accurate credit risk assessments and improving customer experience. The market is expanding beyond traditional industries to include sectors like international trade, medical insurance claims, laboratory services, ambulatory services, home health agencies, nurse staffing agencies, rehabilitation centers, financial services, debt, capital, and potential investors. Trade finance and supply chain finance are also benefiting from factoring solutions. Cryptocurrency is a new frontier in the factoring market, offering faster and more secure transactions. Overall, the factoring market is evolving to meet the changing needs of businesses and financial institutions, offering innovative solutions for debt financing and capital raising.

Market Research Overview

The Factoring Market is a dynamic and evolving sector that leverages Machine Learning (ML) and Artificial Intelligence (AI) to streamline financial transactions for businesses and financial institutions. Accounts receivable processes are being revolutionized through the use of cheques and electronic alternatives, with automation and digital documentation becoming increasingly popular. Cloud-based models and AI-based models are transforming the industry, enabling real-time processing and reducing operational activity. Cryptocurrency and international trade are also driving growth in the market, particularly in the bank segment. Factoring benefits include improved liquidity, faster payment processing, and risk management. The market is being shaped by economic swings, regulatory changes, and industry trends, with fintech solutions like FundBox and Accounting software offering flexible financing alternatives for small businesses. Financial service providers, including banks, are partnering with third-party insurers and payment service providers to offer automated solutions. The adoption rate of financial technology is increasing, enabling data-driven decision making, loans, budgeting, financial planning, borrowing, saving, and investment. Blockchain technology is also being explored for secure and transparent invoice factoring transactions. Despite the growth opportunities, the market faces challenges such as financial frauds and the need for secure data handling. The future of factoring lies in innovative solutions that leverage technology to provide efficient, cost-effective, and secure financing options for businesses.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeDomesticInternationalApplicationSMEsLarge EnterpriseGeographyEuropeAPACSouth AmericaNorth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Workday Adaptive Planning Achieves FedRAMP Moderate Authorization to Support Federal Workforce and Budget Planning

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New Milestone Helps Federal Agencies Plan Workforce and Budgets in One Secure, Modern System

WASHINGTON, July 23, 2026 /PRNewswire/ — Workday Government, a wholly owned subsidiary of Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for HR, finance, and IT, today announced that Workday Adaptive Planning has achieved FedRAMP Authorization at the Moderate Impact Level. The authorization confirms that Workday Adaptive Planning meets the security and compliance standards required to handle sensitive, unclassified federal data, giving agencies a secure, compliant foundation for modern planning.

Federal agencies are under pressure to do more with less, manage costs, and maintain clear records of their decisions. Yet disconnected data, legacy systems, and manual spreadsheet work can make it hard to understand how organizational decisions affect the workforce. Workday Adaptive Planning helps agencies modernize planning by bringing workforce planning, budgeting, and forecasting together so agencies can plan with connected workforce and financial data.

“Federal agencies must align their people, funding, and priorities to deliver their missions effectively,” said Lynn Martin, general manager, Workday Government. “With FedRAMP Moderate authorization, Workday Adaptive Planning gives agencies the secure foundation they need to unify workforce and financial planning. This clarity allows leaders to evaluate trade-offs, allocate resources with impact, and prepare confidently for what lies ahead.”

With Workday Adaptive Planning, agencies can model and assess the workforce implications of organizational change, such as hiring freezes, budget reductions, or reorganizations, to understand the potential effects on headcount, costs, project timelines, and mission readiness. Agencies can also use workforce data to identify talent trends and skills gaps. Finance teams can evaluate competing program requests, allocate costs across funds and programs, monitor budgets throughout the procurement lifecycle, and identify potential overruns earlier. Built-in audit capabilities and FIPS 140-3 compliant security help agencies strengthen fiscal discipline, maintain compliance, and make faster, better-informed decisions.

“Federal agencies need a planning tool they can trust to protect their data and still move fast,” said Ben Pierce, general manager, Workday Adaptive Planning. “With FedRAMP authorization, Workday Adaptive Planning gives them a secure, modern way to make budgeting and workforce planning less painful and a lot more useful.”

As part of Workday Government Cloud, Workday Adaptive Planning works alongside Workday human capital management and financial solutions, helping agencies plan with connected data. By bringing planning into the same platform that powers HR and finance, Workday Government helps agencies move beyond systems that simply record work to a modern, connected foundation for planning safely and collaboratively.

Workday Adaptive Planning is expected to be available to Workday Government customers in early 2027.

For More Information

Explore how Workday Adaptive Planning gives government organizations the power to plan, budget, and forecast the future here.Learn about the mission of Workday Government here.

About Workday Government
Workday Government is a wholly owned subsidiary of Workday, the enterprise AI platform for HR, finance, and IT. Workday Government is dedicated to serving the U.S. government by unifying HR and finance on one intelligent platform with AI at the core, empowering agencies at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver on their missions. Workday Government supports a range of agencies across the civilian, defense, and intelligence communities. For more information about Workday Government, visit workday.com/federal. For more information about Workday visit workday.com.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

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SOURCE Workday Inc.

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Ontinue Wins Gold Stevie® Award for Advancing the Future of Managed Security Operations

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Recognition Honors the Innovation Behind Ontinue’s Agentic SOC, Where AI Agents And Expert Cyber Defenders Work Together to Deliver Autonomous, Governed Security Operations

ZURICH, July 23, 2026 /PRNewswire/ — Ontinue, a leading MXDR partner providing nonstop managed security operations through its Agentic SOC, today announced it received a Gold Stevie® for Technology Excellence Award, recognizing the innovation behind its ION MXDR platform and Agentic SOC. The award was presented in the New Product of the Year – Information Technology (Cybersecurity) category, honoring Ontinue’s continued advancement of AI-powered security operations.

Ontinue was recognized for pioneering the Agentic SOC, a new operating model that treats security decision-making itself as software: governed, measurable, and built to scale with attackers who now operate at machine speed. Rather than layering AI onto existing workflows, Ontinue re-engineered its ION MXDR platform around a multi-agent architecture, with specialized agents spanning threat hunting, investigation, response, and posture hardening, that reason over each customer’s accumulated context and progressively take on more decision-making as trust is earned, while Ontinue’s Cyber Defenders retain governance and accountability throughout.

Ontinue defines an Agentic SOC as a security operations model in which software agents progressively assume responsibility for security decisions and actions, under continuous human governance, using accumulated context, policy, and learned behavior. In December 2024, this model went live in production for every ION MXDR customer, extending autonomous investigation to Tier 2-level incidents for the first time in the industry. The result is a platform that acts less like a tool and more like a team.

Ontinue’s Agentic SOC, by the numbers:

Autonomously investigates incidents within minutesCuts mean time to investigate by 50 percentResolves 99.5 percent of incidents without customer involvementDrives median response time for high-severity incidents under nine minutesPre-approves 97 percent of response actions, based on trust earned directly from customers

For Ontinue’s customers, that translates directly into business outcomes, such has stronger Secure Scores, security teams freed from alert fatigue, and hundreds of analyst hours returned to work that actually moves the business forward.

“The cybersecurity industry doesn’t need more AI features, it needs a fundamentally better way to operate security,” said Moritz Mann, Chief Executive Officer at Ontinue. “This recognition validates the work our teams have done over the past two years to transform AI from an assistant into a trusted operational capability. It’s recognition of an operating model that is already delivering measurable outcomes for customers every day.”

“We congratulate all of the winners in the third annual Stevie® Awards for Technology Excellence for their outstanding achievements,” said Stevie Awards President Maggie Miller. “Their innovations are helping shape the future of technology across every industry, and we look forward to celebrating their success on October 28.”

The Stevie Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 700 nominations from organizations of all sizes in 37 nations and territories were submitted this year for consideration in a wide range of tech-related categories. More than 180 professionals worldwide participated in the judging process to select this year’s honorees.

Details about the Stevie Awards for Technology Excellence and the list of 2026 Stevie winners are available at http://Tech.StevieAwards.com.

About Ontinue
As a leading provider of AI-powered managed security operations, Ontinue is on a mission to give every organization the freedom to focus on what they do best; by making nonstop security excellence accessible, not just aspirational. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.

Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.

Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.

About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

CONTACT: Alison Raymond, araymond@ontinue.com 

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SOURCE Ontinue

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New Harris Poll and Ruth AI Study: 81% of Americans Would Let an AI Agent Handle Part of Their Job Search

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Nearly half would let AI negotiate their salary, while 76% have never heard that AI can provide biased career guidance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — Artificial intelligence has become a mainstream source of career and financial advice for American workers, according to a national survey of 2,131 U.S. adults conducted by The Harris Poll in collaboration with Ruth AI, the AI career strategist built for women.

The full study, The Trust Gap, is available at https://ruthapp.ai/research and has already drawn coverage from Fast Company.

Nearly half of Americans (45%) have used an AI platform such as ChatGPT, Claude, or Gemini for career or work-related advice. That rises to 66% of Millennials and 63% of Gen Z. One in three U.S. adults has used AI for advice about money at work, including salary, raises, bonuses, or negotiating pay.

Americans are also increasingly willing to let AI act on their behalf. Eighty-one percent would be comfortable having an AI agent handle at least one part of a job search, climbing to 90% of Millennials. A majority would let AI search for jobs (67%), conduct pre-interview research (67%), update their resume (65%), or apply for jobs outright (55%). Nearly half would let AI negotiate their benefits (49%) or salary (47%).

Yet awareness of the technology’s documented limitations remains low. Three in four Americans (76%) had never heard that independent research has found AI can produce biased career and salary guidance. Seventy-two percent agree that AI can sound confident even when its advice turns out to be wrong.

“Americans are handing AI some of the most consequential decisions of their working lives, from the job search to the salary ask, while most have never heard that the guidance can carry bias,” said Valerie Chapman, founder and CEO of Ruth AI. “We are delegating faster than we are asking questions. The responsibility now falls on the people building AI to earn the trust users are already giving it.”

About the Survey

The survey was conducted online within the United States by The Harris Poll from June 11-13, 2026, among a nationally representative sample of 2,131 U.S. adults, including 420 Gen Z adults, 620 Millennials, 519 Gen X adults, and 572 Baby Boomers. Data were weighted to the U.S. general adult population. Some questions were asked only of respondents who had used AI for the relevant purpose. References to research on biased AI guidance refer to external academic research (Sorokovikova, Chizhov, Eremenko & Yamshchikov, 2025; arXiv:2506.10491) and are not findings measured by this survey.

About The Harris Poll Thought Leadership Practice

Building on more than 60 years of experience pulsing societal opinion, The Harris Poll Thought Leadership Practice designs research that is credible, creative, and culturally relevant, driving thought leadership and uncovering trends for today’s biggest brands.

About Ruth AI

Ruth AI is an AI career strategist built for women, on a mission to close the $1.6 trillion gender wage gap. Based in San Francisco, Ruth AI is building a suite of AI agents that help women build personal brands, negotiate their worth, and launch their businesses. Learn more at https://ruthapp.ai.

Media Contact

Valerie Chapman
Founder and CEO, Ruth AI
419380@email4pr.com
786-375-1110

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SOURCE Ruth AI

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