Federation of Credit Acquires Trade Credit Groups Business from Technology Partner Credit2B

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The Federation of Credit & Financial Professionals, the oldest business credit association in North America, acquires trade credit groups business from CREDIT2B, a leader in commercial credit information and related technology.

The Federation of Credit & Financial Professionals (the “Federation”), the oldest independent business credit association in the United States (founded 1896 in New York City) announced today the acquisition of the industry trade credit groups facilitation business from Credit2B LLC, a leader in the credit information field.

This transaction includes Credit2B’s industry credit management interchange groups representing approximately 300 major corporate members, and according to Joseph McNamara, Chairman of the Federation, “This highly successful groups business provides the scale of operations to catapult the Federation to a rapid and sustainable membership growth. The Federation’s focus is to provide industry leading business credit training and certification programs, and to promote industry-wide peer networking. Our mission is to become the foremost member-supported education, and service organization in the business credit field, which will include partnering with other associations that share the vision of the Federation.”

Harris Semegram, a former Federation Director and a long-time groups member, added that “what is particularly exciting for me and and group members is that we will continue to have access to Credit2B’s best-in-class trade credit interchange and group services technology, which is light-years ahead of other credit associations, and which enables us to deliver member credit services through a web 2.0 model."

Shyarsh Desai, CEO of Credit2B, stated that “this transaction allows Credit2B to focus on its core business, which is business credit information and technology, data analytics, workflow, and robust integrated credit reporting solutions. We are proud to continue our work with the Federation and its member-customers. With this transaction, Credit2B is no longer in the credit groups business and so we look forward to also serving the needs of other credit associations through our SaaS platform at price points they will find compelling and with features not available anywhere else.”

As part of this divestiture, Credit2B will transfer select employees to the Federation and become an active sponsor of the Federation going forward. The two organizations will work closely to ensure a smooth transition of the members, continued operational support and, as Kerry Prata, President of the Federation, indicated “an ongoing flow of innovative ideas from our members to Credit2B that ensures that our members will have access to continuous enhancements over time.”

About the Federation of Credit & Financial Professionals
The Federation of Credit and Financial Professionals, Inc. founded in 1896, is one of the oldest business credit federations in the world. With hundreds of corporate members, the Federation has more than 2,000 credit, collection, and financial professionals participating in its programs. Leading Fortune 1000 companies constitute its foundation, and represent one of the most influential peer networks in the industry.. Members represent diverse segments of the economy, including manufacturing, consumer goods, healthcare, distribution, construction and financial businesses.

About Credit2B
The Credit2B groundbreaking platform dramatically improves the quality, cost and delivery of business credit information with a secure and scalable data cloud computing backbone.

Credit2B has integrated credit bureau data with massive real-time industry trade, and connected the real industry credit experts - that is the credit managers and their trusted peers in industry. Credit2B’s trade data interchange is approaching $1 trillion of reported revenue value, and has credit reporting coverage of 35 million businesses in North America and overseas.

Management contacts

Kerry Prata, President
Federation of Credit & Financial Professionals, Inc.

Ken Frisco, Operating Board Member
Federation of Credit & Financial Professionals, Inc.

Shyarsh Desai
Chief Executive Officer
Credit2B LLC

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Ken Frisco
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