Renaissance Asset Finance (“RAF”) has taken the step of adopting verifi’s virtual asset inspection platform. This strategic partnership sees RAF deploying verifi’s technology not only for new business origination but also as a comprehensive tool for in-life asset inspections and collections & recoveries.
By integrating verifi’s self-certifi inspection offering, Renaissance’s team will be able to manage assets remotely and efficiently at every critical touchpoint:
- New Business: enabling brokers and dealers to self-inspect assets speeds up decision-making, delivering the "swift finance decisions" that partners value
- In-Life Management: RAF can now conduct routine existence and condition checks without physical site visits, ensuring portfolio health with minimal friction for the client
- Collections & Recoveries: in the event of arrears or recovery action, verifi’s platform provides instant and trusted evidence of an asset's condition and location, allowing the collections team to make data-driven decisions on recovery strategies without delay.
Further, by utilising a single digital solution for diverse use cases, Renaissance gains significant advantages:
- Unified Risk View: whether validating a supercar at origination or assessing plant machinery in a recovery scenario, RAF benefits from verifi’s proprietary technology to detect fraud and confirm asset condition
- Agility & Speed: the platform removes the friction caused by arranging and conducting legacy inspections on site, allowing Renaissance to react quickly to changing circumstances, whether that means allowing fast payouts or acting swiftly to secure an asset
- Relationship Focus: by digitising these guardrails in its lending operations, RAF is able to reduce the administrative burden on both clients and brokers.