At the 3rd Asia Pacific Leasing Summit in Singapore this month, disruption was the word. Organized by Duxes, this annual event brought together a diverse cross-section of leasing professionals from throughout the APAC region to share market trends, industry best-practices, and unique perspectives on the rapidly growing leasing landscape.
Kicking off the Summit were country specific sessions covering the landscape, dynamics, competition, and regulatory considerations in key markets. Highlights included Armenia, where ‘Green Leasing’ aims to upgrade the business landscape with new and advanced technologies that are more environmentally friendly – and India, where there’s significant potential for automobile leasing as only 1% of the total market is being served today.
Later in the day, we enjoyed informative sessions such as ‘The Impact of Digital Platforms and Digitization on Leasing,’ and ‘The Development and Regulatory Trends of Financial Leasing in China.’ Most intriguing was a panel discussion on China’s ‘One Belt One Road’ Initiative, the creation of an economic land belt on the historic Silk Road. The panel discussed opportunities and challenges for leasing firms within and beyond APAC, as this program will clearly be an important consideration and possible deterrent for non-Asian firms seeking a foothold in the region.
The second day of the Summit began with a session on Blockchain technology, focusing on the impact it can have in enhancing credit decisions. It was clear that APAC firms are embracing the digital revolution. Excited about newer technologies, leasing companies discussed various pilot projects like leveraging blockchain to digitize the guarantees process, and utilizing mobility and big data to accelerate the application process.
In addition to attending the Summit, we sponsored and moderated a panel on Fintech, posing the question – is it an opportunity or a threat? The panel discussed innovation, models, trends, and the impact of Fintech on traditional financial players as well as new firms in the region. Attendees agreed that traditional financial players understand the importance Fintech will play in streamlining processes and delivering on their value proposition to customers. And perhaps more Interestingly, the group did not necessarily see Fintech companies as competition, but rather another go-to-market channel to offer equipment finance products to customers. Thank you to our panel members from Tata Capital, Orix India, Huawei and Origa Leasing for fostering such great discussion!
Over the course of 2 days, this year’s Summit provided the APAC leasing community with a meaningful opportunity to connect, network, and learn. Huge thanks to Duxes and all who made the event a success! We’ll be using the shared insights as we continue to install our lease management software in the APAC region, and we look forward to connecting again next year.