PEAC Solutions signs up to Acquis Lumia’s platform for asset finance monitoring
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PEAC Solutions signs up to Acquis Lumia’s platform for asset finance monitoring
PEAC Solutions has joined the Acquis Lumia platform to enhance risk management. The platform is an industry-wide register aiming to mitigate risk and enhance financial transparency by enabling monitoring of asset finance agreements. By integrating with Lumia, PEAC Solutions can better detect irregular borrowing activities, safeguarding against fraud and improving credit decision-making. Last month, Allica Bank became the 38th organisation to adopt the Lumia platform for monitoring asset finance. For confidential support call the Samaritans in the UK on 08457 90 90 90, visit a local Samaritans branch or click here for details.
Asset finance provider PEAC Solutions has joined the Acquis Lumia platform to enhance risk management.
The platform is an industry-wide register aiming to mitigate risk and enhance financial transparency by enabling monitoring of asset finance agreements.
By integrating with Lumia, PEAC Solutions can better detect irregular borrowing activities, safeguarding against fraud and improving credit decision-making.
Launched in 2022 by Acquis Data Services, Acquis Lumia offers lenders a view of live asset finance commitments.
The platform aims to provide an up-to-date overview, assisting lenders in managing risks effectively.
Known for offering financing solutions to equipment manufacturers, distributors, dealers, and customers, PEAC Solutions is said to be the UK’s tenth-largest lessor and the largest independent lessor.
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Earlier this month, PEAC Solutions launched its Green Asset Finance framework, developed in collaboration with the Carbon Trust.
This framework provides clients with products to fund eligible assets, including clean transportation, energy-efficient plants, recycling facilities, and assets supporting pollution control or the circular economy.
PEAC Solutions credit director Justin Jacobs said: “We have worked with Acquis since 2019, and we have built a great working relationship with the team, so signing up to Lumia was a natural next step for us as we look to build a more collaborative asset finance environment.
“Fraud continues to become more and more sophisticated, and it is essential that we stay ahead by leveraging collaborative industry tools like Lumia.”
Acquis Data Services director James Rudolf said: “We’re thrilled to have PEAC Solutions on board the Lumia platform.
“With 39 companies signed up, the power of this platform is growing each day, and the potential for further collaboration, using Lumia as a basis, is a really exciting prospect.”
Last month, Allica Bank became the 38th organisation to adopt the Lumia platform for monitoring asset finance.
Source: https://www.leasinglife.com/news/peac-solutions-joins-acquis-lumia/