Jillian Munson,
Vice President, Process and Automation,
QuickFi

Converge 2024’s NextGen award winner, Jillian Munson, is proof that the future of equipment finance is in more-than-capable hands. Munson has worked in the industry her entire career, having found QuickFi during her post-graduation job search. As someone who grew up never wanting to be “just one thing,” it comes as no surprise that she maintains multiple responsibilities at QuickFi. Her primary focus involves analyzing internal and customer-facing business processes to determine how automation can transform traditionally manual workflows into instant, digitized experiences.

Exemplifying her work ethic and various skillsets, Munson also manages QuickFi development projects, oversees QuickFi’s data security compliance audits and travels across the country with Nate Gibbons, chief experience officer of QuickFi, to perform live demos of the QuickFi platform.

Demonstrating her knowledge, expertise and leadership, Munson facilitated a session on “Self-Service Equipment Finance” at Converge — a process she says is already disrupting the industry. She led session attendees through a discussion about the user experience bridge commonly observed in the tech industry between business-to-consumer and business-to-business processes. “We’ve grown accustomed to speed, ease and accessibility 24/7 — three experience standards that are not typically associated with a commercial equipment finance transaction,” Munson says.

The group came to a unanimous agreement that the industry needs to make significant changes to align with 21st century customer expectations. Some concerns arose, though, when dissecting how to build these self-service processes; what about fraud, customer support and the intricacies of analysis and decision-making? Munson notes that all of these concerns can be conquered through a strategic combination of technology. Ultimately, the group concluded that breaking down large obstacles into small projects is the key to kickstarting industry change. To this, Munson partially agrees. There is a difference between small “Band-Aid” projects, which result in incremental change, and small strategic projects, which are components of bigger initiatives that result in disruptive change, Munson says.

As an innovation-focused leader, Munson believes that “automation does not equal artificial intelligence, and automation does not equal innovation.” She connects the pressure of continuing day-to-day operations to short term decision-making. “Minor adjustments to a broken system only create the illusion of progress,” Munson says. “Incremental change to an antiquated process equates to fighting for survival.”

Thriving and differentiating requires disruption, which requires transformation, Munson says. And, she emphasizes, transformation is not just updating current processes; rather, it’s the fundamental restructuring of a model to improve an experience so drastically that the old model becomes obsolete. “To innovate, there must be an overarching, pervasive focus on the vision and, more challengingly, a surrender of what you know,” Munson says. “You can’t build something better if your mindset is contained within the boundaries of the traditional.”

To the newest generations of equipment financiers, Munson looks forward to engaging with you. When asked about advice for new industry entrants, she reflects on her career journey thus far and how her current role has evolved into a unique amalgamation of her interests. Munson reminds young professionals, “You are not required to fit into a pre-existing box. Allow yourself to explore and find what enriches you.” In fact, she says taking interest in cross-departmental domains presents an opportunity to create a distinctive, unique role for yourself and your organization. “As it happens, our industry is prime for strategic career-discovery because equipment finance is not just finance,” Munson says. She notes that the industry also encompasses technology, engineering, economics, analytics, artificial intelligence and machine learning, user experience and user interface design, cognitive and behavioral science, policy, compliance and much more. “You can find your path here,” she says. “We have space and opportunity for everyone.” •