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HSBC Equipment Finance is the latest organisation to sign up to the Acquis Lumia platform, which was launched by Acquis Data Services 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 (pictured), 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.”