Supply chain finance providers will seek to distance themselves from Greensill Capital at federal parliamentary hearings this week, with one rival claiming the collapsed firm’s business of lending against future invoices was like “financing vapour”.

Octet chief executive Clive Isenberg, who runs a local firm that does about $2.5 billion in supply chain transactions a year, will argue against regulating the financial schemes when he appears before the joint committee on corporations and financial services on Wednesday.