Leasing sector urged to focus on change

The Equipment Leasing & Finance Foundation is urging equipment finance companies to use “day-after-tomorrow” thinking to succeed in a rapidly changing world.

The foundation has released the 2017 annual report from the Industry Future Council, called Staying Ahead of Tomorrow.

The report is a review of the discussions of 22 equipment finance industry executives who convened in Washington, DC, in February this year to bring into focus matters that equipment leasing and finance firms may want to consider as they plan for future growth.

The report focuses on five key areas of change currently affecting the industry: managed solutions; risk transference; regulatory restrictions; capital trends; and the evolution of Fintech.

It also provides an in-depth analysis of the characteristics of exponential technologies—those advancing at an exponential rate—and identifies technologies that already have applications or potential applications in the commercial finance industry.

Ralph Petta, president of the Foundation and president and CEO of the Equipment Leasing and Finance Association, said: “The speed of change in business today is daunting, so it’s imperative that companies in our industry find effective ways to stay abreast of change and assess its relevance to our businesses.

The 2017 IFC report is available for download at http://www.leasefoundation.org/research/ifc/.