Acquis Data Services has announced that HSBC UK Equipment Finance has signed up to Acquis Lumia. HSBC Equipment Finance is the latest organisation to sign up to the platform, which was launched to help prevent fraud within the asset finance market.

As one of the largest asset finance providers in the UK, HSBC has over £4bn of asset finance lending, offering intermediate and long-term, general and industrial credit services to its business clients.  

James Rudolf, Director at Acquis Data Services commented: “The asset finance industry doesn’t have the same reporting requirements that other financial sectors have in place, so we ultimately rely on voluntary collaboration when it comes to issues such as fighting fraud. The recent FCA report on Reducing and Preventing Crime stated, ‘We strongly encourage firms and cross-sector partners to participate in data sharing initiatives and explore the latest advances in data sharing technology to improve collaboration’ and this is exactly what Lumia is trying to do.”

HSBC Equipment Finance following in the footsteps of several other companies by joining Acquis Lumia

Acquis was established in 2009 and has been providing insurance products and services to the European finance and leasing industry for over a decade. Acquis’ in-depth knowledge of the equipment finance market helps it build long-term relationships with its clients, which deliver sustainable results.

This news comes after Cambridge & Counties Bank joins Acquis Lumia joined previously this month. Cambridge & Counties Bank has joined the community to fight fraud in the asset finance sector.

Additionally Acquis and Odessa announced an asset finance software integration deal. With this deal Odessa promises automatic and real-time bulk upload of equipment information.

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Renaissance Asset Finance are yet another player to join the Acquis Lumia community this year. The inclusion of Renaissance Asset Finance, strengthens the collective impact of Lumia in combating fraudulent activities.