Investec looks to make system enhancements this year
stuart hughes

Investec looks to make system enhancements this year

Investec has revealed that it will soon allow brokers to send it asset finance deals via scanned documentation, in addition to working on a series of system enhancements this year.

The specialist bank will shortly change policy to allow brokers to send deals using scanned documentation and pay out the loan without the need for originals.

It is also engaging with some of its broker partners on potential system improvements for 2020.

Through this, Investec aims to deliver system-generated, auto-populated documentation, instant decision making and better in-life self-service functionality.

It has also planned several training sessions in Leeds, Birmingham and Reading to continue supporting brokers as they grow.

Last year, Investec’s annual asset finance broker survey found that the majority of asset finance brokers were poised for growth in 2020, despite Brexit.

In an exclusive interview with Bridging & Commercial, Stuart Hughes, head of broker sales at Investec (pictured above), said: “So far, since the political outlook settled for the UK at the end of last year , we have seen higher levels of proposals and a higher acceptance percentage, which indicates that businesses are now ready to move past what was an uncertain period and invest back into their own businesses.

“Over the last year, it has become clear the extent to which asset finance has established itself across the UK economy, in sectors like renewable energy, as well as the more traditional areas like construction, as brokers strive to diversify against this increasing competition…”

Stuart claimed that the biggest challenges currently for the asset finance industry were fears around increasing competition, as more and more brokers enter the market and banks and funders grow their direct asset finance offering.

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