Compass Business Finance has joined the Acquis Lumia platform, marking its 42nd UK member.
Founded by Mark and Jamie Nelson in 2005, Compass Business Finance focuses on providing asset-based financial solutions to sectors, including construction, engineering, packaging, print, and renewables.
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As a new member of the Acquis Lumia platform, Compass Business Finance will have access to the monitoring of asset finance agreements.
The platform, which debuted in 2022, offers users the ability to detect potential fraud and gain insights into their financial portfolios.
Acquis chief commercial officer James Rudolf said: “We’re thrilled to welcome Compass Business Finance to the Lumia network. Its focus and commitment to supporting SMEs reflect the very ethos behind what Lumia is designed to deliver. Having Compass on board demonstrates the value our platform brings to lenders who are keen to manage risk more effectively and collaborate across the industry.”
Compass Business Finance director Mark Nelson stated: “We have been watching the development of the Lumia network with great interest over the past two years as a keen supporter of what it will achieve for the industry – we’re delighted to now be an official part of this important initiative.”
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By GlobalDataThe integration follows the addition of Lloyds Banking Group as the 41st member.
Last month, IT leasing and financing specialist Grenke became the 40th organisation to join the Acquis Lumia platform.
