BNP Paribas Leasing Solutions, a European leader in equipment financing that managed more than $38.9 billion worth of assets in 2021, has selected Ritchie Bros. Asset Solutions and its suite of remarketing tools to optimize its asset valuation and management workflows.
"It is key for us to be able to estimate the value of the equipment we finance so we can include accurate residual values in our contracts and offer more attractive solutions to our customers," said Pierre Pavec, Asset Management and Circular Economy Manager at BNP Paribas Leasing Solutions. "With Ritchie Bros. Asset Solutions' asset valuation curves, finance calculator and Mascus' row listings data, we're able to refine our estimation models on all the equipment we finance and set up financing programs that meet the needs of our clients and partners."
Helping the finance industry meet regulatory requirements
Ritchie Bros. Asset Solutions technology enables banks, leasing companies and other industrial equipment owners to streamline their asset tracking, valuation, and disposition workflows. Users get access to a comprehensive database with millions of commercial asset transactions, allowing them to make data-driven decisions on instalment rates, risk exposure and more. Ritchie Bros. Asset Solutions' valuation services help finance companies monitor and meet the Basel risk and regulatory requirements.
Asset disposition workflows are built into the software so users can easily push their assets to a selling channel of choice, including unreserved auctions, a reserved online marketplace, and a leading ad listing website. Other services can also be arranged from the platform, including repossession and logistics, intake inspections, refurbishing, advice on repossessed and end-of-lease assets, and more.
"We're very excited to have BNP Paribas Leasing Solutions on board, the world's largest vendor lease supplier," said Tim Scholte, Vice President and General Manager of Mascus and Ritchie Bros. Asset Solutions. "It's a big step forward for the Ritchie Bros. Asset Solutions platform that we're continuously developing and we're looking forward to working with the BNP Paribas Leasing Solutions team to help them optimize their asset valuation."
BNP Paribas Leasing Solutions started using the Ritchie Bros. Asset Solutions platform on April 1.