PEAC Solutions, a leading provider of asset finance solutions for businesses worldwide, is the latest organisation to join Acquis Lumia, the industry-wide register of asset finance borrowing.
PEAC offer financing solutions to equipment manufacturers, distributors, dealers, and customers – and in the UK, it is the tenth largest lessor and the largest independent lessor. The company has now signed up to the Lumia platform, which aims to help mitigate risk and improve financial transparency in asset finance by enabling real-time monitoring of agreements across the market.
Launched in 2022 by Acquis Data Services, Lumia gives lenders a comprehensive, up-to-date view of a business’s live asset finance commitments. By signing up to Lumia, PEAC will be better equipped to detect irregular or suspicious borrowing activity, helping to protect against fraud and improve credit decisioning.
Justin Jacobs, Credit Director at PEAC Solutions, commented: “We have worked with Acquis since 2019 and we have built a great working relationship with the team, so signing up to Lumia was a natural next step for us as we look to build a more collaborative asset finance environment. Fraud continues to become more and more sophisticated and it’s essential we stay ahead by leveraging collaborative industry tools like Lumia.”
James Rudolf, Director at Acquis Data Services said: “We’re thrilled to have PEAC Solutions on board the Lumia platform. With 39 companies signed up the power of this platform is growing each day, and the potential for further collaboration, using Lumia as a basis, is a really exciting prospect.”
