Leicester-headquartered Cambridge & Counties Bank, a specialist lender to SMEs and professional investors, has become the latest financial institution to join the Acquis Lumia community and its ongoing collaborative fight against fraud.
Launched in 2022, Lumia is a central register of asset finance borrowing which has been designed to give unique data insights within the asset finance market enabling lenders to make informed decisions.
The register itself is built on industry collaboration, by allowing lenders to see a company’s current asset finance arrangements in real-time, for the good of the whole industry.
Cambridge & Counties Bank saw strong demand for its asset finance product suite in 2023 and is forecasting continued demand in 2024 as SMEs look to update assets and invest for growth. The bank expanded its AF team last year and this year is expecting to bolster the team further with new hires across its risk, credit and operations teams.
In 2023, the bank achieved B Corp Certification, one of the most prestigious independent assessments of verified performance, accountability, and corporate transparency.
Glen Christie-MacAllan, Head of Asset Finance at Cambridge & Counties Bank, said: “We are thrilled to be joining Acquis Lumia and working alongside the community of other lenders in combatting such an important issue. Fraud and risk are challenges for all lessors and we all want to see these dealt with effectively. Working collaboratively through initiatives such as Lumia to help reduce fraud is something we have wanted to be a part of, and we are looking forward to playing a central role.”
James Rudolf, Director at Acquis Data Services, commented: “Having Cambridge & Counties Bank on board Acquis Lumia is wonderful news. With each asset finance lender who joins, the strength of Lumia grows and will contribute to impactful change within the industry. The power lies in this collaboration and helping each and every lender make better decisions.”
To find out more about Acquis Lumia visit here.
