PowerUP LONDON 2019
in collaboration with
Pitch to win one of three
PowerUP LONDON Winter 2019 Awards
PowerUP LONDON Winter 2019 Prize
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.
PowerUP LONDON Winter 2019, part of the Asset Finance International event on 12 December, is focusing on how machine learning and AI are driving change in auto and equipment finance.
PowerUP London is a competitive pitch competition where selected applicants are invited to pitch and demo before an audience of over 450 senior auto and equipment finance professionals and four expert judges. We invite you to enter in three categories
IAFN/POWERUP OVERALL INNOVATION AWARD SPONSOR
Nominate your company's innovations in AI and ML You are a company in auto and equipment finance with an innovative in-house application of ML or AI. Showcase how your technology helps manage the customer journey, reduce costs or exploit the data flowing from assets.
AWARD SPONSORED BY
Nominate one of your suppliers or partners who you think will change 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.
AWARD SPONSORED BY
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.
AWARD SPONSORED BY
PowerUP London 2019 Judges
Director of EMEA Leasing & Financing
CEO & Founding Partner
PowerUP London 2019 finalists
Toby Woolfe, Business Development Executive, Industry Solutions Europe, IBM
The International Business Machines Corporation (IBM) is an American multinational information technology company headquartered in Armonk, New York, with operations in over 170 countries.
IBM produces and sells computer hardware, middleware and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is also a major research organization, holding the record for most U.S. patents generated by a business (as of 2019) for 26 consecutive years. Inventions by IBM include the ATM, the floppy disk, the hard disk drive, the magnetic stripe card, the relational database, the SQL programming language, the UPC barcode, and dynamic random-access memory DRAM.
Nicknamed Big Blue, IBM is one of 30 companies included in the Dow Jones Industrial and one of the world's largest employers, with (as of 2018) over 350,000 employees, known as "IBMers". At least 70% of IBMers are based outside the United States, and the country with the largest number of IBMers is India. IBM employees have been awarded five Nobel Prizes, six Turing Awards, ten National medals of Technology and five National Medals of Science (US).
Niels Spitters, 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 offers different products to collect data in two ways, structured and unstructured data.
MarketWatch generates vast amounts of unstructured data. Intrador has been collecting this information for 2 years now through web scraping. Among other things, we have built up a dataset of more than 18 million labelled images, a collection with over 1,000 brands, and more than 80,000 different types. From the images, we get to know different information like the type of machine, brand, year of built, hours of operation, technical condition, and the seller with high GPS accuracy level.
The Inspection App is the most important way to collect structured data. With this inspection app, different types of inspections like audits and floor planning can be carried out. End-users use the app throughout the asset's lifetime. The extensive remarketing inspections contain more detailed information. A unique feature of the app allows each customer to configure his/her own inspection flow. Instructions on how to carry out the inspection can be sent along with the flow.
Intrador cleans the unstructured data and combines it with the structured data from the inspection app. The combination provides our customers with powerful dashboards, which they can use to make right decisions quickly. This is a unique service in the market.
The Power of Intrador
A few years ago, Intrador already saw the increasing need for sufficient and specific data and identified the opportunities that this data could generate. Niels Spitters, the Founder, has been working in the industry for many years, and after successfully selling his previous company, he then founded INTRADOR. Niels has a strong team surrounding him, with a lot of experience in Equipment and IT solutions. That is why Intrador has a competitive edge and specialization in the equipment industry.
Our Driving Forces
Intrador specializes in Data Solutions, which enables customers within the equipment (finance) industry to simplify and improve processes today. Hence, helping them prepare for the future.
Our data scientists use OCR, Optical Character Recognition, among other techniques. The Deep Learning models become more and more powerful with these techniques. In the future, we will be able to determine the technical conditions of assets from a photo like the condition of a tracked truck, tires, or damage detection on objects. These are the major challenges faced in the equipment industry. Fortunately, we offer solutions with tremendous impact.
Bill Verhelle, CEO, Innovation Finance USA LLC, doing business as: QuickFi
Twenty years ago, Cornell law student Bill Verhelle, along with business partner Guy Klinger, founded First American Commercial Bancorp, Inc. (d/b/a First American Equipment Finance®). They became experts at running a national commercial lending business, serving the interests of some of the largest and most sophisticated borrowers in America. First American continues to be one of the largest commercial equipment finance businesses operating in the U.S. 1
In 2012, Bill and Guy sold First American Equipment Finance to City National Bank®. Three years later, in 2015, Bill resigned from City National as CEO of First American. Innovation Finance was founded in 2018. During 2018, several top officers from First American joined Innovation Finance. The team from First American included Mark Tomaselli (President), formerly the Chief Technology Officer of First American, Mike Ziegelmann (Chief Financial Officer), formerly the Chief Financial Officer and the Chief Credit Officer of First American, and Nathan Gibbons (Chief Operating Officer) previously an operations officer at First American.
HOW TO ENTER
The closing date is 19 NOVEMBER 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.