Behind David Cameron’s lobbying lies a surreal web of ‘supply chain financing’ and ‘factoring’
The focus on David Cameron’s role in lobbying for Greensill Capital’s involvement in NHS payment systems has obscured a less glamorous question: how did a firm involved in such a mundane part of the financial services ecology became so significant, so quickly?
Greensill Capital, which entered administration last month, provided payment services including “factoring” and “supply chain financing”. Although the company represented itself as part of the “fintech” revolution, these services were not in themselves particularly noteworthy or innovative. To understand the growing appeal of Greensill and other providers, we therefore need a wider lens.
