We are thrilled to announce that Catfoss Finance, a leading independent providing of business asset finance to the UK SME marketplace, has adopted verifi’s virtual asset inspection platform.
This partnership highlights how established, relationship-led lenders are leveraging digital transformation to enhance their underwriting and portfolio risk management processes whilst retaining the personal touch they have built their businesses on. Utilising verifi’s digital inspection platform aligns with Catfoss’s human-first approach to its SME lending operations.
Common-sense lending, powered by technology
Catfoss has built a 20-year reputation on providing practical, individually assessed financial solutions. By utilising an experienced team to manually underwrite deals rather than relying on automated, computer-generated systems, Catfoss is able to make fast, common-sense decisions across a broad spectrum of hard assets—from construction and yellow plant to agricultural equipment and heavy commercial vehicles.
However, verifying the existence and condition of these assets traditionally requires time-consuming physical inspections that can delay access to funding that SMEs need, often time-critically.
By integrating verifi’s self-certifi inspections within its processes, Catfoss empowers its brokers, supplying dealers, and SME customers to conduct their own secure asset inspections in minutes using a mobile device. This digital efficiency removes friction, allowing Catfoss’s expert credit team to focus entirely on structuring the right deal and delivering the fast turnaround times they are known for.
Uncompromising security for business-critical assets
For a lender financing high-value, business-critical assets, establishing an asset’s “proof of existence” is paramount. Digital transformation creates efficiencies within a lender’s processes, but that should not come at the cost of assurance of asset security. Catfoss will benefit from the use of spuuf, verifi’s in-house developed proprietary AI image validation technology.
Operating as a "silent hand," spuuf validates the authenticity of every image at the point of capture in near real-time; stepping in to alert the lender to possible fake images submitted during an inspection. This ensures Catfoss can offer the speed of a digital process while maintaining the rigorous risk protection required for their bespoke, manual underwriting.
Jonathan Garnett, verifi co-founder, commented:
"Catfoss Finance’s commitment to human underwriting decisions and relationship-led lending is exactly why verifi is such a logical fit. We aren't here to automate the credit decision; we are here to remove the friction in that process by delivering high-quality, consistent asset data directly to their underwriters in minutes. By doing so, we help Catfoss make their common-sense lending decisions faster and more securely than ever before."
Herbie Tabor, Head of Credit at Catfoss Finance, says:
"At Catfoss, our success is built on providing our customers with fast commercial decisions and a friendly, personal service. Partnering with verifi allows us to streamline our asset verification processes, reducing the time taken to payout, whilst ensuring we continue to proactively manage risk across our portfolio. Integrating this platform supports our goal of offering a simple, frictionless service that enables our SME clients to access the funding they need, faster, without compromising our common-sense approach to lending."
#HumanDigital #AssetBasedLending #SMEFinance #CatfossFinance #FinTech
About Verifi Asset Protection Limited
verifi is a professional and trusted provider of leading-edge technology for banks and asset finance providers. The company’s "self-certifi" inspection platform allows finance customers and dealers to conduct their own asset inspections via a mobile device, eliminating the need for traditional, in-person inspections. verifi’s proprietary technology, which includes real-time image validation and geo-location tools, helps lenders mitigate fraud and risk at all stages of the finance lifecycle.
For more information or to arrange a demo of our platform, please contact us at [email protected] or visit www.veri.fi
About Catfoss Finance Ltd
Catfoss Finance are leaders in providing a progressive approach to business finance for the SME marketplace. Founded in 1999 and based in Yorkshire, Catfoss provides nationwide coverage with a highly personal, 'local service' feel.
They specialise in funding business-critical assets, from construction and agricultural equipment to commercial vehicles and manufacturing plant. With an open-minded approach to lending and decades of underwriting experience, Catfoss consistently provides fast, common-sense commercial decisions to help SMEs realise their business plans.
You can follow Catfoss Finance on:
Linked In - https://www.linkedin.com/company/catfoss-finance-ltd/
