Brianna Wilson,
Managing Editor,
Monitor

Monitor hosted Converge 2024 on May 15 – 16 in Philadelphia, PA. Following the inaugural Converge 2023 event, a celebration of Monitor’s 50th anniversary, the Monitor team realized that Converge is more than just a conference. It’s a setting for innovative leaders, rising stars and companies to tackle the most complex, top-of-mind issues and concerns the industry faces together.

LIVING IN THE “NEVER NORMAL”
Converge kicked off with a keynote delivered by Peter Hinssen, a world-renowned thought leader on radical innovation. His keynote involved themes from his recently-authored book, “The Phoenix and the Unicorn,” which addresses the “what, why and how” of corporate innovation. Hinssen also introduced thoughts from his book, “The New Normal,” a term he recently recoined to better fit the rapidly-evolving world of technology and innovation: the “never normal.”

Hinssen inspired attendees to think deeply about their companies’ roles in the future, saying, despite all the technological advancements in the past decade, the world is still at the very beginning phase of innovation. He introduced ideas and solutions that will help companies prepare for long-term growth and success.

DRAWING CONNECTIONS
Moderated by Bill Verhelle, CEO of QuickFi, the Converge 2024 industry panel drew a connection between Hinssen’s insights and the nuances of equipment finance. Panelists included Hinssen; Mike Jones, president of First Citizens Bank Equipment Finance; Kelly Furia, head of global marketing and experience at DLL; and Ellen Comeaux, former senior vice president and commercial division leader at EverBank.

The panel discussed the need to make major, companywide shifts instead of the incremental change most have made so far. They also discussed the need to overcome fear when it comes to implementing new technologies. A hot topic of discussion was where to source this innovation — and the ultimate decision was, it won’t come from our industry. Companies need to start recruiting young talent and hiring outside of equipment finance.

DIGGING DEEPER
Following the industry panel, attendees engaged in a 30-minute, collaborative workshop, facilitated by Deborah Reuben, founder and CEO of TomorrowZone, to identify the key themes, ideas and subsequent questions that emerged from Hinssen’s keynote and the industry panel.

From attendees’ work in this segment of Converge, the Monitor team formed three rounds of breakout sessions for attendees to choose from, which would inspire them to continue the conversation on specific topics.

The breakout sessions topics were:
• “Mindset & Behavior: Cultivating Innovation & Change,” facilitated by Verhelle and Jeff Bilbrey, Leasepath
• “Cleaning Up Your ‘Hot Mess’ Data,” facilitated by Scott Nelson, Tamarack Technology
• “Practical Application of AI to Accelerate Your Business,” facilitated by John Sokol, LeadX
• “How Do We Respond to Tomorrow’s Disruption Today?” facilitated by Furia and Gina Rigsby, DLL
• “The Key to Innovation: Overcoming Fear & Developing Leaders,” facilitated by Jones
• “Pace of Change & the Human Condition,” facilitated by Comeaux
• “What is the ‘S.O.Y’ for EF Now?” facilitated by Brad Peterson, Channel
• “Self-Service in Equipment Finance (Efficiency and Relationships),” facilitated by Jillian Munson, QuickFi
• “Mindset Shift from Problem Solver to Mystery Solver,” facilitated by Quentin Cote, Orion First Financial
• “Hiring and Recruiting for the Day After Tomorrow,” facilitated by Nancy Robles, Eastern Funding
• “Customer Experience: People Buy Experiences, Not Products,” facilitated by Joseph Leonard, Oakmont Capital Services, and Theresa Kabot, K2 Funding
• “Connecting Generations, Intergenerational Collaboration,” facilitated by Donna Yanuzzi, 1st Equipment Finance
• “Balancing Challenges of Legacy Tech and the Need to Advance or Change,” facilitated by Denis Stypulkoski, Reimagine Advisors
• “Creating a Culture that Supports the Hourglass,” facilitated by Tawnya Stone, GreatAmerica Financial Services
• “Focus on Platforms & Ecosystems (Batman, Robin or Irrelevant?),” facilitated by Andrew Cotter, Somerset Capital Group
• “Designing Organizations for Continuous Change,” facilitated by Carmen Delfi, EverBank

THE “DAY AFTER TOMORROW”
Following feedback from Converge 2023, the Monitor team added a full-day workshop designed to dig deeper into the ideas and discussions attendees engaged in on the first day of the conference. Hinssen led attendees through an overview of the technological landscape and encouraged everyone to truly “get to work” on the innovative solutions that they could bring back to their companies.

LUNCH WITH LISA AND LARRY
Larry Bowa, former shortstop for the Philadelphia Phillies, attended Converge following the second day’s lunch hour for an interview with Lisa Rafter, publisher and CEO of Monitor. The interview addressed Bowa’s career, his decades with the Phillies — including winning the 1980 World Series — and his thoughts on what it takes to create and maintain a winning team. Audience members had the opportunity to ask Bowa questions, which ranged from his opinion on the current world of baseball to dealing with and overcoming moments of failure throughout his career.

DIGITAL DISRUPTIONS
Leaders from technology companies, both within and outside of the equipment finance industry, delivered 5-minute “Tech Talks” designed to introduce attendees to a number of companies that actively serve the digital innovation realm. These companies included: Solifi, K&B Consulting, Odessa, Kunai, Alfa, Tamarack Technology, LTi Technology Solutions, LeadX and Syndifi.

CELEBRATING THE INDUSTRY
The event culminated in an awards gala at the National Constitution Center, which many have dubbed the “Oscars” of equipment finance. The gala, preceded by a cocktail hour and dinner, celebrated the leaders, rising stars and teams who continuously contribute to the advancement of the equipment finance industry.

The winners, nominated by the industry and voted upon by Converge 2024’s award committee, were:
• Champion of Diversity — Nancy Robles, Eastern Funding
• Community Impact — Lovern Gordon, Love Life Now Foundation
• Creating Change and Innovation — Deborah Reuben, TomorrowZone
• Equipment Finance Team of the Year— Transaction Management Team, Fleet Advantage
• Industry Advocate — Randy Haug, LTi Technology Solutions
• Leader of the Year — Brad Peterson, Channel
• Lifetime Achievement — Adam Warner, Key Equipment Finance (Retired)
• Mentor Extraordinaire — Donna Yanuzzi, 1st Equipment Finance
• Most Influential Woman of the Year — Michelle Speranza, LEAF Commercial Capital
• MVP Behind the Scenes — David Wiener, The Alta Group
• NextGen — Jillian Munson, QuickFi

For the first time since its creation, Monitor also publicly acknowledged the Monitor 100 rankings outside of the magazine and awarded the following based on the Monitor’s 2024 survey data:
• Asset Growth in Dollars ($) — John Deere Financial
• Fastest-Growing by Assets (%) — First Commonwealth Equipment Finance
• Volume Growth in Dollars ($) — DLL
• Fastest-Growing by Volume (%) — Delta Financial Group
• Market Leader – Agriculture — John Deere Financial
• Market Leader – Construction — Caterpillar Financial Services
• Market Leader – Trucks and Trailers — Volvo Financial Services
• Market Leader – IT & Related Technology Services — Dell Financial
• Market Leader – Industrial & Manufacturing — Bank of America Global Leasing

As the industry evolves in an innovative landscape, Converge will continue to serve as the hub of equipment finance’s future-building work. The Monitor team cannot wait to invite the industry back to Philadelphia for Converge 2025. •

The Monitor team thanks each person who contributed to the success of Converge, including our speakers, panelists, attendees, staff and the 2024 Converge Award Committee, which included:
Sudhir Amembal, chairman and CEO of Amembal & Halladay

Deborah Baker, vice president, head of global payment solutions at HP

Vince Belcastro, president of Camley Advisors

Ellen Comeaux, former senior vice president and commercial division leader at EverBank

David Drury, senior vice president and group head, equipment finance at Fifth Third Bank

Chris Enbom, CEO of AP Equipment Financing and Toyota Century (USA)

Terey Jennings, president of Financial Pacific Leasing

Xiang Ji, senior manager, Toyota Industries Commercial Finance

Katerina Jones, chief marketing officer, Fleet Advantage

Kyin Lok, CEO of Dext Capital

Jennifer Martin, senior vice president, chief product officer at LTi Technology Solutions

Rick Matte, CEO of Post Road Equipment Finance

Eric McGriff, chief risk officer of 36th Street Capital

Brad Peterson, CEO of Channel

Linda Redding, managing director and head of equipment finance at JPMorgan Chase

David Schaefer, founder and CEO of Orion First Financial

Michelle Speranza, chief marketing officer of LEAF Commercial Capital

Denis Stypulkoski, founder and principal of Reimagine Advisors

Bill Verhelle, CEO of QuickFi

David Walton, president and CEO of Caterpillar Financial Services

Nahid Zamir, head of operations and transformation, Meridian OneCap Credit