Washington, DC, April 3, 2017 – Equipment finance companies will need to use “day-after-tomorrow” thinking to succeed in a rapidly changing world, according to a new report, “ 2017 Industry Future Council: Staying Ahead of Tomorrow,” released today by the Equipment Leasing & Finance Foundation. The report summarizes 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.
In seeking to develop new strategies for the future, the IFC report examines the following five areas of change currently affecting the industry:
• Managed solutions
• Risk transference
• Regulatory restrictions
• Capital trends
• Evolution of Fintech
The report 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 annual IFC report is designed so that the reader will benefit from the insights of Industry Future Council executives and use the report as a thought-provoking resource and planning tool.”
The 2017 IFC was co-sponsored by PayNet and IDS. The 2017 IFC report is available for free download at http://www.leasefoundation.org/research/ifc/. All Foundation studies are available for free download from the Foundation’s online library.
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization dedicated to inspiring thoughtful innovation and contributing to the betterment of the equipment leasing and finance industry. Funded through charitable individual and corporate donations, the Foundation focuses on the development of in-depth, independent research and resources for the advancement of equipment finance industry knowledge. Visit the Foundation online at http://www.LeaseFoundation.org.