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The Age of Omnichannel: Utilizing Technology to Meet Customers Where They Are

In a Monitor Q&A, executives from four software companies — Farooq Ghauri of NetSol Technologies, Mukul Mittal from Cloud Lending Solutions, Madhu Natarajan from Odessa Technologies and Jeff Van Slyke from LeaseTeam — discuss blockchain, AI, smart contracts, machine learning and other technology strategies for equipment finance companies.

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MONITOR: A recent Monitor article by Stephen Whelan suggested that blockchain technology is ideal for use by parties that know each other, such as the close-knit equipment finance industry. How can companies within the industry begin to explore this technology?

GHAURI: Even though it’s a close-knit industry, there is still heavy resistance to sharing the financial information of an asset. The industry is starting to share non-financial data, like asset maintenance information, owner information and so on. Rules need to be defined against the financial data and what is to be shared. Do we share yield information/profitability information throughout the life time of the asset or basic financials? We still need to define the rules of engagement.

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"The Age of Omnichannel: Utilizing Technology to Meet Customers Where They Are," by Rita Garwoord was published in the July/August edition of Monitor