United Trust Bank (UTB), a specialist lender, has joined the community of industry leaders subscribing to Lumia, an innovative solution developed in response to the Arena TV fraud that affected numerous lenders in the UK’s asset finance market.

Lumia, a collaborative industry effort, aims to mitigate lending risks. UTB is collaborating with Acquis Data Services to supply essential data, enhancing transparency for lessors during lending evaluations.

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Nathan Mollett, Head of Asset Finance at United Trust Bank, said: “It’s fantastic for UTB to be part of a product and community that personifies collaboration. It’s important we seize this opportunity to work together to fight fraud for the better of our industry. Critically for us, Lumia is simple in usability and will allow us to quickly embed the solution into our daily lending decisions.”

James Rudolf, Director of Acquis Data Services, said: “We’re thrilled to have another key player in the asset finance market join Acquis Lumia, collaboration is key to the product’s success and as a result, key to resolving the industry’s fight against fraud.”

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Founded in 2009, Acquis has been a provider of insurance solutions to the European finance and leasing sector for more than ten years.