Acquis Data Services, a newly incorporated entity, has launched Acquis Lumia, a register of asset finance borrowing that will provide a snapshot of a company’s current asset finance arrangements in a bid to support lending decisions, Acquis Insurance said in a press release.
The data hosting and processing company, which has four Acquis Insurance executives as its directors, has been developed with the cooperation of lessors from across the industry but will require sector-wide adoption if its benefits for lenders are to be realised.
“Acquis Lumia will assist asset finance providers to identify suspicious or irregular balance-sheet borrowing on a large scale. This provides a clear insight into a customer’s lending exposure, alerting the lender to possible fraudulent activity,” the press release said.
Acquis said the platform will be available to lenders in the leasing industry “for a modest subscription fee, with no charge during 2022 and until Acquis Lumia has sufficient reach to deliver real value,” the company said.
Acquis Data Services has four directors: Acquis Insurance’s Sam Farrar, EU finance director, Jeremy Miles, chief technology officer, James Rudolf, chief commercial officer, and Nick Leader, CEO.