FENCA, the Federation of European National Collection Associations, represents the interests of credit management, debt collection and debt purchase sector on the European level, liaising with the institutions of the European Union, stakeholders in the European financial services industry, consumer groups and the public.
Founded in 1993, FENCA’s 23 national member associations represent over 75% of all credit management, debt collection and debt purchase companies in Europe and hold more than 80% of the market share within the EU, with in excess of 80,000 staff providing services for more than five million businesses, including SMEs, European and overseas banks, as well as the public sector across the EU.
One of the key activities of FENCA is to set and continuously improve business standards and best practice within the sector across Europe, to which its members subscribe in order to provide the best possible service to creditors and consumers alike.
The European credit management, debt collection and debt purchase sector returns between 45 and 55 billion Euros of receivables back into the European economy each year, thereby securing above all the liquidity of micro, small and medium enterprises, while helping to keep the cost of credit at a reasonable level for all consumers.
Through its cooperation with the IACC (which has established a FENCA Committee) and ACA International in the United States, FENCA is part of a worldwide sectoral network of credit management, debt collection and debt purchase companies.