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Industry Future Council

Each year, in support of our mission to be “your eye on the future,” the Equipment Leasing & Finance Foundation brings together a group of industry executives to form the Industry Future Council. The IFC is tasked with exploring trends, challenges and opportunities, and evaluating how these issues may impact the equipment leasing and finance business for years to come.

2024 Industry Future Council Report: Promoting Innovation and Experimentation in Equipment Finance

The study focuses on the large, growing role of technology and innovation in the equipment finance industry, and the risks and opportunities associated with them over the next three to five years.

The facilitated discussions of this year’s IFC participants identified three key areas to consider in developing the strategy for a company’s optimal level of technology deployment and innovation:

Customer preferences for personalized engagement – The study reveals that 80% of customers say that the experience a company provides is as important as the actual products and services they provide, and 78% expect companies to adapt to their changing needs and preferences.

Employee experimentation with new technologies in a structured, coordinated manner - Equipment finance firms must be willing to experiment and innovate to stay competitive, and need a defined innovation strategy that prioritizes experimentation that’s not at the expense of a firm’s core strengths.

Cybersecurity risk recognition and management - Building on previous work commissioned by the Foundation on cybersecurity practices and combatting fraud, the IFC concluded that an effective cybersecurity posture requires a combination of people, processes, and technologies.

The Foundation is grateful to the 2024 IFC sponsors, Equifax, LTi Technology Solutions, and Solifi.
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Interested in learning more about futures thinking and how it applies to your business? Watch a micro-lesson: "An Introduction to Futures Thinking" by Terry Grim of Foresight Alliance. This video provides a basic overview of the concepts and language for the discipline of foresight, as well as the art and practice of looking ahead for meaningful changes.