Rita E. Garwood,
Editor in Chief,
Monitor

Conference season is already in full swing as I write this letter. I was in Orlando a few days ago to attend the AACFB Commercial Finance Expo to learn more about the opportunities and challenges brokers are facing today. In this issue, we share insights from third-party originators and a recap of the conference. Speaking of brokers, Don Cosenza outlines best practices for preparing a deal for submission to a funding source.

The centerpieces of this edition are five profiles celebrating the recipients of the 2023 Monitor Icon awards. As we reviewed the nominations with our Editorial Board this year, it became clear that we didn’t have a strong candidate in the ‘Disruptor’ category, so we chose to omit that award this year. At the same time, a tie emerged in the ‘Veteran’ category, so we are thrilled to honor two veterans this year, Bill Carey and Don Campbell. We also honor ‘Current Leader’ Miles Herman, ‘Pioneer’ Bette Kerhoulas and ‘NextGen’ Kevin Hall. I had the honor of interviewing this year’s icons for Monitor’s podcast, which will be released throughout conference season.

Two other themes have emerged in this issue: opportunities in the international market and technology. The supply chain disruption sparked by the COVID-19 pandemic has created an emphasis on nearshoring. Rafael Castillo and Juan Dodds from The Alta Group explore how this trend is creating opportunities for equipment finance. Mexico is a hub for nearshoring, given its proximity to the U.S. Alredo Espino sat down with us to review the ins and outs of financing in this market. The pandemic also accelerated technology adoption and the rise of remote work. Andrew Carman explores how tech solutions are impacting the efficiency of underwriting in a hybrid world.

This year, AI has been top of mind for just about everyone as ChatGPT and other tools have made headlines. We checked in with four technology leaders about AI adoption and how equipment finance companies can keep up in a special Q&A article. The good news is that the only way to fail with technology is to do nothing. The bad news is these leaders had so much to say that we couldn’t fit the entire article in this issue, so please be sure to read the full version on monitordaily.com.

We all know that any tools your company chooses to implement, including AI, are only as strong as your technology foundation. Eldon Richards explores the benefits and hurdles of various architectural options.

In this issue, Lewis Cohn explores how law firms are changing to meet the evolving needs of equipment finance, Deb Reuben interviews Sobat Khawaja and Brooke Foster about how to successfully implement transformation initiatives and Stephen Whelan offers five steps to avoid a ‘nudum pactum’ outcome and an unenforceable contract.

We are already at work on our final issue of the year, which will feature women’s profiles and our annual Bank 50 ranking. In the meantime, on behalf of the Monitor team, we look forward to seeing you during fall conference season!