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.

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:

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.