In a significant move to enhance the fight against fraud within the asset finance market, HSBC UK Equipment Finance has joined Acquis Lumia. Launched to provide unique data insights, Acquis Lumia is a central register designed to offer real-time information on asset finance arrangements. This collaboration aims to improve transparency and decision-making processes in the industry.
HSBC, a leading asset finance provider in the UK with over £4 billion in asset finance lending, will now leverage the capabilities of Acquis Lumia to better safeguard its operations and clients. James Rudolf, Chief Commercial Officer at Acquis Data Services, emphasized the importance of such collaborations in the absence of mandatory reporting requirements for the asset finance sector. He highlighted the recent FCA report encouraging data sharing initiatives, aligning with Acquis Lumia’s mission to foster industry-wide cooperation and innovation.
Acquis Lumia, launched in 2022, has quickly become a vital tool for lenders, enabling them to access comprehensive data on asset finance borrowings. With over 75% of the market now committed to this platform, the addition of HSBC marks a pivotal step in further strengthening the industry’s defenses against fraud and enhancing overall market integrity.
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