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In a remarkable year in which the Monitor 100 companies blew past the $500 billion-dollar mark in net assets, Monitor’s Bank 50 followed suit with a solid 5.5% in annual net asset growth. Banc of America Leasing retained its perennial position as No. 1 in net assets, but thanks to a 7.1% year-over-year increase in new business volume Wells Fargo Equipment Finance came through to steal the originations crown.
Trying to get a read on current technology can be difficult enough, but trying to predict where it’s going, especially for a non-expert, can seem impossible. Monitor interviewed six executives from different software companies to provide a guide to both current and future digital trends.
Sometimes, the best source of inspiration comes from an outside perspective. At this year’s CEMC Fintech Innovation Summit, held this past June in California, attendees heard from a diverse array of speakers that offered unique viewpoints and lessons that could be applied back to the equipment financing industry.
BY DEBORAH REUBEN
Engaging professional service providers is common in the equipment finance and leasing industry, but as the capabilities of these firms have expanded, the decision to outsource has become more complex. Monitor assembled a panel of experts who discuss the two vital steps of third-party engagement: deciding if a project should be outsourced and choosing the right provider.
BY JOHN BOBER & RITA GARWOOD
Blockchain is a hot topic in the financial world, but most companies are still trying to decipher how it will help their businesses. BlocLedger’s Al Brandt explains the current state of blockchain and explores the ways his company plans to bring the equipment financing industry on board.
BY AMANDA KOPROWSKI
In magazine articles and summits, the equipment leasing and finance industry has begun to move beyond a discussion of emerging technologies and onto practical implementation. John Hurt interviews Fusemachines founder Sameer Maskey and examines how companies can take on what can often seem like a daunting task when they decide to integrate new technologies into their platforms.
BY JOHN HURT
The participants in our Q&A represent some of the biggest banks in equipment finance, which fund everything from agriculture to healthcare services and anything in between. Bill Mayer, Joe Pucci, Mike Romanowski and Tom Rutherford offer their viewpoints on 2019 so far and their outlook on the months and years ahead.
MOST THINK OF THE NEW YEAR AS THE BEST TIME TO REFLECT AND EVALUATE, but mid-year provides a unique opportunity to take a hard look at the fruits of the last six months, which can help you decide whether to stay the course or correct direction.
BY AMANDA KOPROWSKI
Brokerage, like many financial and professional services, has changed over the years, with the rise of digital innovations, ease-of-use communications and new products on offer through the leasing industry. But for those just starting out, sometimes the old-fashioned way of growing a business is still best, as Bob Bell explains.
BY BOB BELL, CLFP
Orion First Financial held its fifth annual Small Business Lending Forum (SBLF) on July 22, 2019 in Denver. Participants included 93 attendees from small business lenders, lessors and service providers across the country.
BY CURTIS COSTNER
Fintech Gen 1 may have smoothed out processes on the back-end of equipment finance, but its successors may prove to be truly disruptive on the front-end. Patricia Voorhees examines the ways fintech may come to define and change the customer experience.
BY PATRICIA VOORHEES
Usury laws vary from state to state, which can make a lease or loan more complicated when the lessor is in one state and the lessee in another. Kenneth Weinberg discusses how this has played out so far in the courts, with favorable rulings for a lessor often depending not only on who files first, but where they file from.
BY KENNETH WEINBERG
Short on time? The editors of Monitor collected the most striking data points presented in the August MONITOR BANK 50 issue and condensed them into an infographic.
Of the nearly 176 news stories posted on monitordaily.com in April 2019, these were the top 10 headlines in order of reader popularity: