Core Insights - UK-based lender Ultimate Finance has adopted a virtual asset inspection platform from verifi to enhance its service model through technology [1] - The integration of this platform is expected to improve the asset finance process by utilizing open banking and real-time financial data for quicker lending decisions [1][4] Group 1: Technology Adoption - The self-certifi platform allows customers, brokers, and dealers to conduct asset inspections, leading to significant savings in time and expenses [2] - The platform provides data-driven insights and employs AI to prevent fraud by verifying the existence and condition of assets [2] Group 2: Strategic Partnership - Jonathan Garnett, co-founder of verifi, highlighted Ultimate Finance's reputation for combining tailored lending with a digital approach, making them an ideal partner [3] - The adoption of the virtual inspection technology is expected to automate manual processes, allowing Ultimate Finance to allocate resources towards growth objectives [3] Group 3: Commitment to Innovation - Simon Gregory, head of Asset Finance operations at Ultimate Finance, stated that the collaboration with verifi marks a significant step in their commitment to innovation [4] - The integration aims to enhance the accuracy and efficiency of asset inspections, expediting the verification process and fund release for asset financing [4] Group 4: Implementation Success - Ultimate Finance expressed satisfaction with the smooth implementation of the digital application into their operations and looks forward to continued collaboration with verifi [5] - Kingsley Asset Finance in the UK also integrated verifi's platform recently, aiming to improve digital offerings and service quality for clients and brokers [5]

Core Insights - Time Finance has partnered with verifi to launch a virtual asset inspection platform called "self-certifi" aimed at facilitating virtual inspections for SMEs and brokers [1][2] - The digital solution is expected to reduce reliance on physical inspections, thereby saving time and costs [1][2] - This initiative is part of Time Finance's digital enhancement strategy to refine processes, elevate customer experience, and minimize risk [2] Financial Performance - Time Finance reported a profit before tax (PBT) of £7.9 million for the financial year ending May 31, 2025, representing a 34% increase from the previous year's £5.9 million [3] - The company's lending book value increased by 8%, reaching £217.4 million, while deal origination rose by 5% to £96.5 million [3] Industry Impact - The partnership with verifi is expected to improve asset inspection activities across Time Finance's growing SME lending portfolio [4] - Verifi's platform aims to enhance asset inspections in the UK asset-based lending industry, emphasizing a commitment to continuous improvement [4]