BNP Paribas Leasing Solutions partners with Ritchie Bros. Asset Solutions to optimize its international asset valuation strategy
BNP Paribas Leasing Solutions, a leader in equipment financing with over €35.7 billion in managed assets, has partnered with Ritchie Bros. Asset Solutions to enhance asset valuation and management. Effective April 1, 2022, this collaboration allows BNP Paribas to leverage Ritchie Bros.' valuation tools for accurate residual values in financing contracts. The partnership aims to streamline asset tracking and meet Basel regulatory requirements, facilitating data-driven decisions on financing. Ritchie Bros. Asset Solutions integrates various services for better asset management.
- Strategic partnership with BNP Paribas enhances asset valuation and management capabilities.
- Utilization of valuation tools improves accuracy in financing contracts.
- Access to vast asset transaction database aids data-driven decision-making.
- None.
BREDA, The Netherlands, April 13, 2022 /PRNewswire/ - BNP Paribas Leasing Solutions, a European leader in equipment financing that managed more than
"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."
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, VP 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, 2022. Learn more about BNP Paribas Leasing Solutions at leasingsolutions.bnpparibas.com and about Ritchie Bros. Asset Solutions at rbassetsolutions.com.
Ritchie Bros. Asset Solutions is a web-based, mobile-friendly software tool that empowers equipment owners to track their assets with real-time market valuations, inspection and appraisal services, and sending equipment and truck inventory to multiple disposition channels with a simple click. The solution brings together a customizable suite of tools and services to help companies better manage, analyze, and sell assets. This includes an inventory management system, allowing dealers to easily list equipment for sale on their own centralized used equipment web shop, as well as local ones; an inspection app; and multilingual marketing tools.
As the European leader in asset finance, BNP Paribas Leasing Solutions supports the growth of its clients and industrial partners by offering rental and finance solutions with services for their professional equipment. At the heart of the usage economy, we provide businesses with the flexibility they need to remain competitive and grow in a sustainable way. Our 3,700 experts support our clients' and partners' growth by offering them an increasingly digitalised experience. In 2021, we financed 343,000 projects for a total volume of 14.7 billion euros in 20 countries, in Europe and also Asia, the United States and Canada.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.
Photos and video for embedding in media stories are available at rbauction.com/media.
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SOURCE Ritchie Bros.
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