For Release March 7, 2019
Deborah Reuben and The Alta Group Will Present Key Findings at the ELFA Executive Roundtable
GLENBROOK, NV, March 7, 2019- Most equipment leasing and finance executives believe blockchain technology is relevant and offers a competitive advantage, but few have acted on it, according to a new report by Deborah Reuben and The Alta Group. The authors of this report advise learning more now and working together to take advantage of the benefits of this revolutionary technology.
Valerie L. Gerard and Shawn D. Halladay of Alta and Deborah Reuben, president of Reuben Creative, produced the survey questionnaire and, with the Equipment Leasing and Finance Association’s support, surveyed a wide spectrum of ELFA members, including lessors and service providers.
The report, Blockchain Beyond the Hype: Perspective for the Equipment Finance Industry, summarizes the survey results, provides a variety of insights and outlines key recommendations to advance blockchain usage where relevant to this industry.
Alta CEO John C. Deane and Reuben will present some of the report’s key findings while taking part in the Technology Innovation Workgroup Industry Update with Katie Emmelof IDS, at the ELFA Executive Roundtable, March 11.
The authors strongly advise the industry to act now – not to lag behind other sectors especially given the potential benefits of blockchain.
“Blockchain is here, and the industry leaders need to be proactive in deciding whether or not to adopt what’s looking like a revolutionizing technology,” says Gerard. “The equipment leasing and finance industry simply cannot afford to ‘wait and see’ with blockchain.
“CEOs should lead very strategic conversations on this technology within their organizations because it has the potential to affect many areas of the business,” she adds.
Other parts of the financial sector are making progress in adopting blockchain, most notably the mortgage and insurance industries and among fintech companies, the report notes.
“We can take inspiration from innovations happening in other industries and keep in mind that this is about rethinking what we do, eliminating customer experience friction, and understanding the business problems to solve before applying technology,” says Reuben.
“Although the equipment leasing and finance industry may have been slow to adopt technology innovation in the past, our yesterday does not have to dictate our tomorrow, we can find new ways to work together, think different, and innovate to shape the future," she adds.
“The benefits of blockchain to the industry will include greater data security, new cost efficiencies, and the ability to get closer to the customer with shared information,” Halladay says. “Potential use cases cast a wide net from payment processes, ‘Know Your Customer’ initiatives, asset management, syndications and securitization.”
For the full report visit: BlockchainBeyondtheHype.
About The Alta Group
The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, vendor/captive finance organizations, financial institutions, manufacturers and service providers, offering counsel on strategy and competitive alignment, asset management, business quality assurance, digital business transformations, legal services, mergers and acquisitions, and professional development. For information on the group’s services in the United States and Canada, Latin America, Europe, the Middle East and Africa, China, and Asia Pacific, visit www.thealtagroup.comand follow us on Twitter @thealtagroupllc.
About Reuben Creative
Deborah Reuben is President of Reuben Creative, a forward-thinking technology strategy consultancy with broad background innovating in equipment finance. Through advisory consulting and workshop facilitation, she helps leaders and teams to see the bigger picture, understand technology possibilities, stretch the imagination of what could be, and chart a course for transformative change. For more information, visit https://www.deborahreuben.com.
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