UBI Factor was established by a pool of banks in 1981 under the name CBI Factor on the initiative of the Central Institute of Banks and Bankers. In the late '90s it was purchased by the Banca Lombarda Group, and in 2005 it merged with Veneta Factoring.

Following the birth of the UBI Banca Group, CBI Factor changed its name and became UBI Factor on September 24, 2008. This operation and the company's rebranding falls in line with UBI Factor's corporate strategy of becoming the key factoring company in the UBI Banca Group.