The pressure to be competitive in the equipment finance industry has never been higher. The Covid-19 pandemic and the current economic conditions combined with the need for equipment finance companies to satisfy both current and future customer expectations have driven the industry to a place where digital transformation is no longer “nice to have”, it’s essential.

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At the Annual ELFA Convention in San Antonio last month Scott Nelson moderated a panel on how millennials will shape the market over the next 30 years and how equipment finance businesses should be preparing for change. The panel was kicked off by an interview with well-known demographer, Kenneth Gronbach, and featured panelists: Zach Kimball, Jena Morgan, and Shea Huston.

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Every company is at a different stage on their way to becoming digital competitors. Both customers and employees have increased digital expectations that are waiting to be met. As technology and expectations continue to change, it is vital for companies to be able to respond.

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We have entered the age of digitalization with no return in sight. Going digital is no longer a choice, it’s a necessity. In their recent presentation at the AACFB conference in Nashville, Tamarack’s Daniel Nelson and Leasepath’s Jeff Bilbrey dove into the realities of living in a digital finance economy.

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How do we prepare ourselves for a future that requires business digitalization? That is the question that Deborah Reuben, David Woodroffe, and Scott Nelson set out to answer during the latest ELFA Wednesday Webinar sponsored by the BCBS committee and moderated by FIS’s Joseph Franco.

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