Tim Armstrong spoke on how data-driven innovation is redefining an industry at the recent UK Invoice Finance & ABL Summit

Tim spoke about how data-driven innovation has the power to redefine invoice financing: corporates have more data than ever before, and effectively using the insights that data can give allows us to release more working capital at a better price than we've been able to historically!

He was joined on the panel by Moderator Eric Li, Head of Banking Research, Crisil Coalition Greenwich; Carolyn Goddard, Head of Product, Lendscape; Richard Olver, COO, Bibby Financial Services and Paul Bower, Director, FGI Tech.

Topics covered included:

• While data offers opportunities for better pricing, fraud detection, and client insights, access remains a key challenge.
• There is a need to move beyond simply requesting data and instead showcase how sharing data can lead to tangible benefits like better pricing, improved risk management, and valuable business insights.
• API integration, shadow ledger technology, and advancements in data extraction tools are paving the way for more seamless data sharing and analysis.
• A generational shift is underway, with younger business leaders more accustomed to data sharing and expecting seamless digital experiences. 
• This shift, coupled with ongoing education and advocacy, is expected to increase client willingness to share data.
• Staying ahead of the curve is seen as crucial for survival in the rapidly changing financial landscape