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2017 arrives: A kick in the behind and a busy start..

by Eamonn McMahon

Belated happy new year to everybody or if that’s just too bold on the 31st of January, happy Chinese new year! The year of the fire rooster should, geopolitics aside, be a cracker. The past three weeks have been hectic as I’ve tried to make up for lost holiday time.. here’s a quick snapshot of what i’ve been working on:

Legal and regulatory: Spent a good chunk of time researching the various legal options on structuring our offering and have started working with a solicitor to map out the right approach. Pivot points are around eligibility for funding, how title on equipment and machinery is held (legally speaking) and maturity/nominal mismatching. My application to the FCA ‘Innovation Hub’ is now ready to be sent across. For those not familiar, The Innovation Hub, is an immensely valuable regulatory forum that allows entrepreneurs to engage the UK regulator with an open two-way dialogue rather than face the standard, stone-cold, proctor style reception.

Infrastructure and logistics: Any fintech business is only as good as the partners it works with. Having a solid foundation is critical so I have been in discussions with the best trustees, payment providers, credit data providers, technology providers, equipment servicing companies and research organisations.

Building a team: The great thing about London, well one of the many great things about London, is that there is no shortage of talent eager to work on innovation. In addition to the guys I’m working with on a blockchain/smart integration (mentioned in previous blog) I’ve started working with an enthusiastic PHP/Java/Python developer who has some interesting experience developing online tools for financial analysis. Also hopefully will be able to put to pen-to-paper with a great resource on the credit modelling side.

Putting together the foundation of our web presence: After some research into different options I decided to go with SquareSpace template and add some html/css tweeks as I needed. Will elaborate on this decision and discuss web development generally in the next post.

Finally, we have a new brand, equipmentconnect: Branding a business is one of tasks that seems like a lot of fun from the outside until you hear advice like.. ” Dude, you have to go for a Palindrome (a word with the same spelling backwards).. and include the letter Z.. ”  Before I say something that will get me into trouble I’ll wrap up this post! In the next post I’ll talk a little bit more about our branding and how we arrived at where we are and how I hope to refine it in the future.

Stay warm folks – we are on @equipconnect for anybody interested in following our journey  modernising equipment finance.