Equipment finance firms are under growing pressure to accelerate digitalization—to use it more effectively and improve efficiencies to compete in a tougher economic climate in the wake of the pandemic. Facing rising competition from digital-savvy alternative lenders, leaders know now is the time to transform front- and back-office finance activities and operating platforms to improve speed, efficiency, costs and the customer experience.
A survey of 60 North American equipment finance IT and business executives, conducted for Accenture Technology Vision 2020, reveals that industry professionals are aware of the importance of delivering a more human experience.
What equipment finance professionals are saying:
agree organizations need to elevate their relationships with customers as partners to compete in a post-digital world
report they are preparing their workforce for collaborative, interactive and explainable AI-based systems
As technology’s level of impact grows ever higher throughout society, successful businesses will be those that use these new models to invite people—lessors, lessees, buyers, employees, partners or the public—to co-create their new course for the future.
In this report, we look at the four Banking Technology Vision trends that resonate most for equipment finance executives:
The I in experience: People’s choice
Equipment finance organizations must provide people with more agency as co-creators of their experiences to see active, engaged and loyal customers.
AI and me: Reimagining human and AI collaboration
To realize the full potential of AI— equipment finance organizations must build capabilities that allow humans and AI to work together seamlessly.
Post-COVID-19 CX: Connected experiences
Customers increasingly want to manage their finances digitally. Beyond COVID-19, they will be seeking simple, direct access to personalized services.
Innovation DNA: Creating continuous innovation
Equipment finance organizations must innovate based on where they hold an advantage, where they are lagging and what their future ambitions are.
Keeping pace with a changing landscape
To move forward in a post-digital world, lenders must first acknowledge the essential role technology plays in people’s lives today—and how that relationship is changing. Contact us to learn more about how Equipment Finance, a part of Accenture Specialty Finance, assists banks and captive equipment finance companies in readying their businesses to better compete, grow and thrive in the digital economy.
To truly bring a human touch to the next decade, the new models that equipment finance enterprises build must be rooted in collaboration.