WINTER PITCH SUMMIT 2019
AI IN AUTO AND EQUIPMENT FINANCE
IAFN WINTER CONFERENCE
12 DECEMBER 2019
In collaboration with
PowerUP LONDON is a pitch competition that brings together innovators and an international audience of industry leaders in auto and equipment finance.
"We want to identify promising innovations can change auto and equipment finance. We know that there are thousands of promising innovations, but few of them are likely to be seen and so have any impact. We think that by subjecting them to a close hard look by leaders in the industry we'll accelerate change."
Peter Thomas co-founder PowerUP LONDON, CEO and Founding Partner THEORICA.
PowerUP LONDON Winter 2019, part of the Asset Finance International event on 12 December, focused on how machine learning and AI are driving change in auto and equipment finance.
Always early adopters of emerging technologies, companies in the financial services industry are rapidly embracing Machine Learning (ML) and Artificial Intelligence (AI).
And the benefits are obvious: research analyst Autonomous estimate the savings across front, middle and back offices to be 20% and the total global impact of AI and ML to be over $1 trillion. Crunchbase lists almost 9,000 ML startups, and almost $10 billion was invested in AI startups in 2018 according to PwC.
Entrants to PowerUp may be:
– disrupting routes to market through innovative partnerships with finance organisations
– overhauling technology systems to provide new efficiencies, for example using open banking technology
– developing new technology-driven ways to reduce credit risk or manage residual value risk
– revolutionising the nature of finance through new products or hybrid forms of lending
– managing the regulatory and compliance burden
– driving the emerging trend towards servitisation.
IAFN/POWERUP OVERALL SPONSOR
OVERALL AWARD WINNER
Pitched by Niels Spitters Founder and CEO Intrador
The urge and necessity to obtain, use, and exchange data quickly and reliably is growing constantly. Intrador, together with its customers, is responding to this with new and smart technologies by continuously working together on a future-proof dataset. Intrador’s MarketWatch generates vast amounts of unstructured data on used equipment assets including a dataset of more than 18 million labelled images including details of machine, brand, year of build, hours of operation and condition.
WINNER OF THE TECHSTARS AWARD
Pitched by Toby Woolfe Big Data Automotive Leader IBM
AI driven maintenance services using IoT asset data to monitor the usage of the asset and to track wear and tear in order to predict in advance of a breakdown when the asset needs maintenance and repairs.
WINNER OF THE CHANGEMAKERS AWARD
Pitched by Bill Verhelle CEO Innovation Finance
QuickFi is a software platform owned by Innovation Finance LLC which delivers equipment finance simply and easily through an app in about three minutes.
WINNER OF THE INNOVATORS AWARD
We have selected three finalists who will pitch at PowerUP LONDON.
Based on the opinion of the judges, plus a live poll from our audience, the winner will be selected to the overall IAFN/PowerUp LONDON Winter 2019 Prize.
Nominate one of your suppliers or partners who you think will change the future of the industry.
This category is for emerging ML and AI startups who have caught the eye of established auto and equipment finance companies for their innovative platforms and services. Get wider exposure at the IAFN Winter event 2019 to customers, partners and collaborators.
Nominate your startup and your innovative AI and ML technologies
You are a startup who wants to demonstrate how your technology can drive change in auto and equipment finance. Connect with an audience of over 450 senior delegates from OEMs, manufacturer captives, banks and independent finance providers.
There are many applications of ML and AI and here are just some of the possible areas where we would expect to see entries to PowerUp Winter 2019:
- in-life services
- payment models
- sales support
- fleet tracking
- marketing analytics
- risk profiling and credit modelling
- reducing the cost to serve
- fraud identification
- managing compliance workflows
- managing large and complex data sets
- multi-source data merging
- high-frequency data training using ML
Those selected will
- Pitch and demo on-stage for 5 minutes followed by 5 minutes of questions
- Receive free tickets to attend IAFN Winter 2019
- Feature in the IAFN Winter 2019 fintech alley where you can meet potential customers, investors, partners and collaborators
- Finalists' pitch videos will be featured on the IAFN website
HOW TO ENTER
The closing date is 2 DECEMBER 2019.
Please submit a pre-pitch submission of no longer than 2 A4 pages as PDF to:
The submission should outline:
- the AI or ML technology expressed in accessible language
- the application of the technology for auto and equipment finance with specific examples of application scenarios, benefits and future opportunities
- a brief company profile
- the category (and for the 'Changemakers' category, the nominating company).
Pre-pitches will be independently scored by a panel of four judges.
The top 2 pitches in each category will be selected to pitch at the IAFN Winter 2019 conference on 12 December.
PowerUP JUDGES WINTER 2019
Director of EMEA Leasing & Financing
CEO & Founding Partner
PREVIOUS PowerUP JUDGES
Jonathan Andrew PEAC
Andrew Denton Alfa^
Graeme Bannister InMotion Ventures
Ashley Barnett Lex Autolease
Tom Bull EY
Adrian Samareanu Volvo Financial Services
Ian Smith 1PM
Based on the opinion of the judges, plus a live poll from our audience, a winner will be selected in each category to win an IAFN/PowerUp LONDON Winter 2019 Award for each category which will be presented at the IAFN awards dinner.
One of the winners will also be awarded the overall IAFN/PowerUp LONDON Winter 2019 Prize.
PREVIOUS PowerUP LONDON WINNERS
TERMS AND CONDITIONS
CONFIDENTIALITY Pre-pitch submissions are confidential and will only be shared with the conference organiser and judges. ENTRIES You may enter PowerUP LONDON enter as many times as you wish in the 'Innovators' and 'Techstars' categories. You may nominate as many companies as you wish in the 'Changemakers' category. JUDGING Judges will independently score each pre-pitch submission before selecting finalists to pitch at the event. WINNERS The winners will be selected based on the judges' opinions and a live audience poll at the event. All decisions are final. FINANCIAL REWARDS There is no financial reward associated with PowerUP LONDON.