Acquis Data Services has today launched a “portfolio monitoring” enhancement to its Lumia platform. Lumia is the central register for asset finance borrowing that has been designed to identify suspicious or irregular balance-sheet borrowing on a large scale.
“Portfolio monitoring”, which is available to existing Lumia collaborators from today, will help users to identify and monitor significant customer borrowing changes over time. Prior to the launch of this ongoing monitoring functionality, Lumia users could search a company’s current net balances, the start of lease dates and the number of contracts in place – but users now can see how that borrowing value is changing in-life.
Launched in 2022, Lumia is a central register of asset finance borrowing that provides a clear and real-time view of a company’s current asset finance arrangements. With 36 asset finance companies now signed up to the platform, it covers over 400,000 agreements that are in place, with a value of over £2.4bn.
James Rudolf, CCO at Acquis Data Services commented: “Lumia has grown exponentially since its launch in 2022 and is fulfilling the vision that the industry had when we originally developed the platform. We’ve already reached a tipping point in the industry and the information available to users is growing in value every day. Now with the addition of “portfolio monitoring” we’re providing our partners with a more proactive way to look at a customer’s current exposure to debt.
