Managing the auto and equipment finance liquidity squeeze

A recent International Asset Finance Network Online seminar, sponsored by technology provider, NETSOL Technologies, heard that the asset finance industry is managing competing pressures that are testing the liquidity of some providers, as they support forbearance claims while also meeting their own financial commitments to wholesale funders, while at the same time trying to finance new business.

A panel of experts discussing key issues during the online seminar said that a critical factor in the new financial environment is real-time data and advanced technology.

This will empower asset finance companies to be responsive to changing customer requirements and also manage risk using the latest customer and industry data.

Mike Randall, chief executive officer of Simply, said: “Open banking and technology will be important for making a balanced decision based on today and not historical performance. We are in for a hugely busy time over the next year as SMEs consolidate or invest in new assets.”

Industry experts taking part in the seminar were:

• Peter Cottle, head of automotive sector, GrowCap
• Mike Randall, CEO, Simply
• Steve Swift, managing director, Kennet Equipment Leasing

The summer event was also attended by Gavin Wraith-Carter, managing director of Hitachi Capital Business Finance, who sadly passed away in September. Knowing how much he loved this industry, we have included his participation in the recent session.

* To read more on the future liquidity challenges facing the asset finance market, download our IAFN Online session summary below.

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