Of course, many lessors may not know what the CEMC is, so let’s begin at the beginning. CEMC is the Commercial Equipment Marketplace Council, a practitioner group co-founded by Currency and The Alta Group to focus on collaboration to advance commercial financing services online. Lessors and other equipment finance industry participants should be interested in the CEMC because:
- Buying behavior is shifting from offline to online, and so are financing options
- FinTechs are broadening the spectrum of competing funding sources
- Private equity funds and other investors are increasingly attracted to FinTechs as their market penetration grows
Reading (not too) in between the lines, one might surmise that these trends are creating both challenges and opportunities for lessors! Discussions by industry thought leaders around these topics, and others, were lively on December 8, 2016, when the CEMC met at Columbia University to explore areas for collaboration in more detail. The group also plans more events during 2017 to expand the dialog in the equipment leasing and finance industry.
Pictured below are Patricia Voorhees and Valerie L. Gerard of Alta, and Charles Anderson of Currency, during the conference.