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Fintech Remains a Hot Topic During CFA Annual Convention
Every year, the Commercial Finance Association (CFA) brings important thought leaders and business innovators together to discuss industry opportunities and challenges.
CFA’s 73rd Annual Convention takes place Nov. 8-10, 2017 in Chicago and during the event, Gibraltar Business Capital president Scott Winicour will join Far West Capital CEO Cole Harmonson and fellow panelists Lin Chua of InterNex Capital and Jason Jones of LendIt for a panel discussion centered around fintech and how to stay relevant in a changing landscape.
The panel, “How to Market ABL and Factoring in the New World,” will take place Nov. 10 from 9-10 a.m.
“Like it or not, fintech is here to stay,” says Gibraltar’s Winicour. “Some people in our industry have been fighting it, but they’re losing market share to those who are developing and embracing it. The global investment in fintech has skyrocketed and the opportunity is staggering.”
Today’s customers want easy access to money – and quickly. And given the shift in demographics, more transactions are moving online and to mobile platforms and applications.
“The question has become,” Winicour notes, “how do you get your core audience focused on your solution in a crowded and competitive marketplace? And how do we integrate seamlessly in the lives of tech-savvy customers while adding value.”
“Historically, specialty finance companies were the next best option for borrowers who did not qualify for banks. But now, fintech is an additional option that is disrupting both banks and specialty finance companies,” says Far West Capital’s Harmonson, “but today, fintech has disrupted the small business lending space. And armed with a new way of assessing risk, we’re seeing lenders harness tech to originate, underwrite, and monitor deals on an ongoing basis.”
As moderator of the panel, Harmonson says he expects the group to weigh-in with digital marketing best practices, and share insights into the evolving customer relationship while answering key questions, such as, will the algorithm displace the need for collateral altogether.
While change and innovation are constants, Harmonson notes, integrity is too.
“Money is readily available in today’s market,” says Harmonson, “but it’s critical to keep customers part of the equation. We want to set our customers up for success, and as an industry, we can’t lose sight of that.”
For more information on the conference and how to register, click here.