A quiet revolution is underway in the world of auto and equipment finance technology systems as traditional end-to-end systems providers like FIS, Alfa, NetSol and Lendscape start to focus on the business opportunities which can be derived from open APIs. The shift is away from sticking comprehensively to end-to-end systems which try do everything well, towards platform ecosystems which connect the traditional solutions providers platform to specialist, often best-in-breed solutions which provide additional functionality.
Examples of this approach are numerous and range from bolting on simple e-contracting systems to the deployment of larger systems like Tomorrow’s Journey, the platform which underlies car subscriptions, digital rentals and contactless driving systems, among other things (Alfa announced a tie-up with them earlier this year) and automated decisioning platforms like the FICO platform which can be deployed across a finance organisation.
The challenge faced by CIOs of auto and equipment finance providers and indeed the CTOs of the technology systems providers is to find the best emerging fintech solutions which they can exploit. There are loads of fintechs out there that offer the world, but which are the truly innovative ones that are too good to miss?
One route for asset finance lenders has been to attend the Asset Finance Connect technology innovators award session which takes place next in London on November 3rd. The session is run by Asset Finance Connect and is sponsored by Lendscape. During the session, three dragons including Steve Taplin, CEO of Lendscape, Christian Roelofs, CEO of Finativ and Ylva Oertengren, COO of Simply interview up to five solutions provider finalists who pitch their solution to our communities who then vote to identify the best of the finalists. In June 2022 the winner was Nivo (https://www.nivohub.com/) the total messaging solution for instantly connecting financial services providers; in 2021 Findustrial (https://findustrial.io/) the pay per use solution won it.
Help us to identify the Asset Finance Connect Autumn 2022 Fintech Award Finalists!
Asset Finance Connect is now lining up the next set of finalists for the November 2022 conference, and we need your help to shortlist the best.
If you are a finance provider who is using/ or considering using a great bolt-on solution then we want to hear about it. Just drop us the name of the product and their website and we will sort out the rest.
If you are a tech provider with a great product or even a great idea in the making then send us an A4 page or 5 minute video detailing your proposition and why its special.
In both cases email it to edwardpeck@assetfinanceconnect.com .The best recommendation from a finance provider will win a bottle of champagne.
For more information about the Fintech Innovator Award see our website on https://afcconferenceuk.com/afcautumn/en/page/what-is-the-fintech-innovator-award-
