Avoiding fraud: Contact parties, check addresses
Equipment lenders must be wary of the increased frequency of fraud currently plaguing the industry. Equipment financiers continue to face problems related to fraud schemes, such as no actual equipment in the deal, no actual lessee or no actual deal,
Equipment finance execs: Recruitment a challenge
MCKINNEY, Texas — Equipment finance executives are working to attract new talent as the industry continues to face recruitment challenges. “The biggest challenge we’re starting to address — but we're so far behind the curve — is the influx of new
A solution for ongoing labor shortage: DEI
Diversity, equity and inclusion offers a possible solution to the ongoing labor shortage affecting the equipment industry. The labor shortage in the equipment industry is a growing concern for several sectors. With the changes in the labor market over the past
Letter from the editor
March 17, 2023 Dear Reader, Royal Media has embarked on an experiment to incorporate artificial intelligence into our editorial endeavors. This is an exciting initiative for us, although we recognize that it comes with uncertainty. But we have always experimented and explored new
Equipment auction volume jumps as supply improves
LAS VEGAS — Equipment auction volume is increasing amid rising inventory levels and seasonality trends. “Auctions are growing; you’re going to see a lot more equipment rolling through auction,” said Mitch Helman, sales manager at AuctionTime, EquipmentFacts and HiBid — subsidiaries
BMO, BNP Paribas form cross-border partnership
BMO and BNP Paribas have formed a long-term commercial finance agreement that allows commercial clients from both banks to utilize the combined global services. The new, trans-Atlantic partnership began as a result of BMO’s purchase of Bank of the West from
Arvest Bank rolls out equipment lending product
Arvest Bank launched an equipment finance lending product on cloud-native core banking platform Thought Machine. The $26 billion bank decided to run the product on a cloud-based core to keep up with ever-changing segments — including the $1 trillion-and-growing equipment finance market, Laura
Equipment companies turn to bundling, SaaS solutions
Equipment companies are bundling products and services including maintenance and warranties to create turnkey solutions for customers. A growing trend in the equipment industry is the shift to an “as-a-service” approach, with companies wanting one provider that can do everything, equipment
Fed: Equipment supply chain, commercial lending mixed
Equipment supply chain disruptions have eased, but several regions are still experiencing challenges that drive up costs as commercial lending demand slows. The Federal Reserve System Wednesday released the January edition of its Beige Book, based on data collected as of
Limited systems integration stunts captives’ innovation
Captive finance organizations are critical to the success of the equipment financing industry, but limited systems integration with parent organizations is creating a barrier to innovation. For captives and their parent companies, connecting the digital ecosystems of both organizations is the
