Lease Group has teamed up with Siemens Financial Services (SFS) to enhance its financing capabilities, leveraging Application Programming Interface (API) technology to expedite credit decisions.
Through this integration, Lease Group says it can offer customers rapid credit approval — typically within five seconds — enabling faster access to essential equipment and technology.
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In a statement, it was SFS’s interest in smartphone financing that attracted Lease Group, who were in search of a funder capable of supporting a diverse range of equipment and meeting the needs of their efficient business model. SFS’s emerging API capabilities and smartphone financing options made them the ideal partner.
The API integration between Lease Group and SFS took just 10 weeks to complete. This collaboration created a platform that allows users to receive credit decisions in five seconds. Unlike many other platforms, these approvals are final, not provisional, offering greater certainty to Lease Group customers. Technology vendors using the platform also benefit from full transparency, with the ability to track orders from documentation through to payment.
Lease Group has diversified its asset financing to meet market demands, extending its offering into areas such as renewable energy, telematics, catering, and security.
Simon Fabb, Co-Founder and Group Marketing Director at Lease Group, noted that SFS’s expertise across multiple industries has been key to supporting their growth.
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By GlobalData“With SFS, we don’t have to pitch our offerings from scratch. They already have deep knowledge across various sectors, including the equipment we finance, such as EV chargers. This allows us to respond quickly when approached about new technologies,” said Fabb.
James Twineham, Account Development Manager for Broker Finance at Siemens Financial Services, praised the partnership: “It’s a pleasure to work with a fellow tech-focused company like Lease Group. Their ability to offer near-instant financing approvals provides a real competitive edge in the market, as evidenced by their high approval rates.”
