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January 1, 2010updated 12 Apr 2017 4:28pm

Expansion and anti-fraud systems on way

As new ways to monitor risk become more in demand, technology will continue to be a core element of lessors needs in 2010. Also, todays major software systems now have multi-currency, multi-language and multi-GAAP capabilities in place which are expected to attract increasing interest from lessors across Europe and beyond. Besides these investments in systems geared to improving efficiency, there is also a greater focus on real-time data to help detect signs of default more quickly and increase a lessors ability to detect fraud.

By Antonio Fabrizio

As new ways to monitor risk become more in demand, technology will continue to be a core element of lessors’ needs in 2010.

Also, today’s major software systems now have multi-currency, multi-language and multi-GAAP capabilities in place which are expected to attract increasing interest from lessors across Europe and beyond.

Besides these investments in systems geared to improving efficiency, there is also a greater focus on real-time data to help detect signs of default more quickly and increase a lessor’s ability to detect fraud.

Many lawyers predict that levels of fraud will not decrease in 2010, and therefore lessors might also want to look into implementing automated fraud detection systems to help intercept fraudulent applicants and fraudulent matches at every stage of the process.

A number of lease software companies are also expanding as they look for further opportunities in 2010.

CHP Consulting has announced it will open three new offices in Frankfurt, Paris and Stockholm to serve Europe’s major leasing markets with its recently developed ALFA v5 system.

White Clarke Group (WCG), on the other hand, opened a new office in Turkey in the final quarter of 2009, and expects to be able to close a number of deals with local players by early 2010.

Peter Kainradl, MD of WCG Europe, said the Turkish office will provide a bridge to the Mediterranean market.

NetSol Technology, too, is forming a wholly-owned subsidiary in China, and it expects the new unit to contribute a quarter of total NetSol revenue in 2010.

Antonio Fabrizio

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