The Equipment Leasing & Finance Foundation released a new study, “Specialized Apps, Software and Information Services for the Equipment Leasing & Finance Industry,” to help equipment finance companies navigate the growing number of options for automating and improving their business processes. The study presents a list of specialized services currently available to equipment finance companies looking to take a step forward on their path toward digital automation and optimization.
The study was commissioned by the ELFF and prepared by the information technology company Northteq. Key themes identified in the study revolve around
- Fraud and identification
- Credit automation
- Documentation
- Personalization for digital experiences.
The study also entails implementation strategies for the technologies covered, with application programming interfaces (APIs) the primary method connecting to broader cloud-based platforms.
“Piecing together the right combination of applications and services into a cohesive unit can lead to a result that is both powerful and rewarding,” Tom Ware, chair of foundation research committee of ELFF, said. “There is a growing variety of useful technologies that were never specifically meant for our industry, but that can be very useful, and to some extent this catalogue of building blocks is a ‘how-to guide’ for creating FinTech automation in a leasing company.”
