FactorsNetwork was founded by Anthony Aliengena. Anthony has extensive experience in the world of Transportation Factoring and came of age in the early days of the Internet. He believes strongly in it's founding principal, the free exchange of information on the information superhighway. After becoming familiar with the world of Factoring he realized the Factoring industry needed an online commons, an industry specific networking site.
This belief came from a realization that Credit was really just networking. The fees had so badly distorted the networking experience that it didn't even feel like networking at all. Consider that we are sharing our business experiences. What can that be other than networking, but it feels nothing like networking due to the fees. He realized CreditExchange was the perfect launching pad for the FactorsNetwork revolution. We then built and launched our first product, fncreditexchange.com.
The CreditExchange was the right place to start for another reason as well. We were tired of the existing business model that consisted of Credit Agencies taking our data, compiling it and then reselling our data back to us on Credit Reports. From this beginning grew all other services and we are continually developing new ones to help Factors keep more of the money we take so much risk to earn.
Areas we feel can benefit the most from improved communication are fraud prevention, trade experience exchange and due diligence. When the cost barrier to communication is removed the level of communication is substantially improved. Once we have all Factors together under one website the sky is the limit for possibilities.
FactorsNetwork continues to develop software that will change the status quo, reduce our risk, increase our profit margins and bring the industry into the Internet era.