During the recent Asset Finance Connect (AFC) Autumn 2023 Conference, AFC head of content, David Betteley, sat down with the new Finance & Leasing Association (FLA) Chair, John Phillipou, to discuss the challenges the asset finance industry faced in 2023 and the outlook for the coming year as he takes hold of the reins at the industry body.
The accompanying summary and analysis of the interview can be found here.
John Phillipou sees challenges facing the asset finance industry in 2024, but as a long-term member of the asset finance community he sees a stable industry that should be proud of its achievements and the role it plays in funding SMEs who are the lifeblood of the UK economy.
To address these issues, John believes that it is paramount that all industry players – whether from trade bodies, lenders or brokers – must unite to present a forward-footed, stable financial sector and a united voice to lobby on issues affecting the sector.
The key points raised in the conference interview focused on:
- Industry should communicate confidence and certainty and provide stability to SMEs who may otherwise become overly pessimistic.
- Industry needs to persuade its publics, including regulators and UK Government, of the value delivered by the industry.
- The FLA and its members need to shout about their successes through media.
- In 2024, the asset finance industry must address issues surrounding: wholesale funding, capital requirement options, funding the green revolution, uncertainties of risk, and the creation of new models and products.
Following the interview, we asked AFC’s head of content David Betteley to provide his thoughts on his discussion with John Phillipou which can be found here along with the summary of proceedings.
AFC Autumn Conference 2023
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