VIDEO INTERVIEW: Diane Croessmann, Director, The Alta Group discusses how the Internet of Things (IoT) is impacting funding sources in the equipment finance industry. According to Croessmann, the traditional equipment usage model – where idle assets are destroyed at the end of their lives – has evolved into a build, use, and reuse model.  As a result, finance companies must gain comfort in the service providers supporting equipment as they are ultimately responsible for ensuring uninterrupted service and equipment performance that meets the expectations of the borrower/lessee.

As Croessmann outlines in this video, the relationship between financing sources and service providers is new to many equipment finance companies and banks, and these relationships will continue to become more important factors in the relationships between all parties involved in an equipment finance transaction.

Equipment Finance Advisor’s Thought Leadership Videos feature interviews with subject matter experts and leaders from bank-owned equipment finance companies, leasing companies, banks, independent commercial finance companies, consultants, service and product providers and more – offering their candid thoughts in interviews broadcast via Equipment Finance Advisor’s YouTube Channel.