FCIB: Supporting trade finance professionals for 107 years

Trade finance, in its earliest form, was born out of necessity—a way to keep goods moving when trust between distant merchants was in short supply. What began as a strict economic policy in the 16th century has evolved into a multifaceted discipline that fuels business and economic growth worldwide. 

This week, we’re celebrating 107 years of The Finance, Credit and International Business Association (FCIB), an association that’s provided the necessary education, resources and opportunities for trade creditors to mitigate risk overseas. Founded in September 1919, FCIB originally stood for the Foreign Credit Interchange Bureau, and since then has addressed the need for a standard practice for global credit exchange.

“Joining FCIB has given me the international focus I needed to accommodate our growing customer base,” said Grahame Vincent, CICP, director of global credit and collections at The Trade Desk (Ventura, CA). “Rather than just laying out the foundation, FCIB enables us to address real challenges that we face day-to-day so that we can better understand them and find our own conclusions. Having access to resources, like their Country Risk Maps, while being part of a supportive community makes that process easier.” 

The numerous opportunities offered by FCIB to exchange information have enabled credit practitioners to minimize potential risk and predict credit trends. Launched in February 1926, FCIB’s Credit & Collections Survey has allowed credit managers to share their credit and collection experiences trading internationally. Moreover, FCIB members have the benefit of reviewing historical benchmarks in the survey archives. “For me, the combination of structured education, practical content and access to experienced credit professionals is particularly valuable,” said Francois Paulus, CICP, GBS head of finance at SYENSQO (Moscavide, Portugal). 

Know Your Customer (KYC) continues to govern both domestic and cross-border transactions, ensuring the legitimacy and creditworthiness of corporations. Doing business internationally, however, brings added risk and makes following KYC practices more challenging. Through comprehensive credit reporting, credit teams can get a more accurate read on their customers. From Worldwide Credit Reports to the Political Risk Newsletter and Country Reports by the PRS Group, FCIB’s credit information services can provide missing details in the credit investigation. 

Since 2004, FCIB’s International Credit & Risk Management Online Course (ICRM), made in partnership with Michigan State University and the U.S. Department of Commerce, has equipped credit professionals with foundational knowledge and risk mitigation strategies. “Aside from connecting me with the broader credit management discipline, the ICRM course reinforced for me that credit is not simply about approving limits or collecting overdue invoices—it combines financial analysis, customer and country risk, international trade, payment mechanisms, risk mitigation and business judgment,” said Paulus.  

Representing FCIB are various subject matter experts leading webinars, educational sessions and briefings. Each presentation is backed by industry data and unparalleled expertise, leaving audiences with practical insights, new solutions and vital information that they can take back to their credit team. “Whether they’re covering insolvency, best practices or leading an open forum, it’s a great opportunity to learn something new,” said Vincent. 

The connections formed at various events, such as FCIB’s Global Credit Leaders Forum, create a space for like-minded individuals to grow and learn from each other. “Getting perspectives from people outside my own company helps me challenge my own thinking and look at problems differently,” said Paulus. “Over time, it’s helped me understand the business credit function in greater depth and, importantly, given me additional credibility within my team.” 

After 107 years of service to the trade credit community, FCIB’s mission remains the same as it was in 1919: helping credit professionals navigate global trade with confidence. However, none of this would be possible without the contributions of the trade credit leaders who’ve shaped it and those who will carry it forward.