BNP Paribas Leasing Solutions, a European provider of equipment financing that managed more than €35.7 billion ($38.95 billion) worth of assets in 2021, selected Ritchie Bros. Asset Solutions and its suite of remarketing tools for its asset valuation and management workflows.

“It is key for us to be able to estimate the value of the equipment we finance so we can include accurate residual values in our contracts and offer more attractive solutions to our customers,” Pierre Pavec, asset management and circular economy manager at BNP Paribas Leasing Solutions, said. “With Ritchie Bros. Asset Solutions’ asset valuation curves, finance calculator and Mascus’ row listings data, we’re able to refine our estimation models on all the equipment we finance and set up financing programs that meet the needs of our clients and partners.”

Ritchie Bros. Asset Solutions technology enables banks, leasing companies and other industrial equipment owners to streamline their asset tracking, valuation and disposition workflows. Users get access to a database with millions of commercial asset transactions, allowing them to make data-driven decisions on installment rates and risk exposure. Ritchie Bros. Asset Solutions’ valuation services can also help finance companies monitor and meet Basel risk and regulatory requirements.

Asset disposition workflows are built into Ritchie Bros. Asset Solutions’ software so users can push their assets to a selling channel of choice, including unreserved auctions, a reserved online marketplace and an ad listing website. Other services can also be arranged from the platform, including repossession and logistics, intake inspections, refurbishing and advice on repossessed and end-of-lease assets.

“We’re very excited to have BNP Paribas Leasing Solutions on board, the world’s largest vendor lease supplier,” Tim Scholte, vice president and general manager of Mascus and Ritchie Bros. Asset Solutions, said. “It’s a big step forward for the Ritchie Bros. Asset Solutions platform that we’re continuously developing and we’re looking forward to working with the BNP Paribas Leasing Solutions team to help them optimize their asset valuation.”