United Trust Bank’s Technology Finance receives a second shortlisting in industry awards ‘Innovation’ categories

United Trust Bank’s new Technology Finance product has been shortlisted for two prestigious finance industry awards categories for ‘innovation’.

Earlier this month it was announced that United Trust Bank had been shortlisted in the ‘Product and service innovation of the year’ category at the Leasing Life Awards 2015. Now the Bank has also been shortlisted in the ‘Innovator of the year’ category at the Leasing World Awards 2015.

UTB’s Software and Services Agreements have been developed over the last year and launched four months ago. In that time specialist technology finance brokers have widely commended them for their innovation and most importantly for improving broker’s offerings to the IT channel. They have been credited with opening up new revenue opportunities to brokers wishing to serve a rapidly growing technology sector.

In addition to our product innovation shortlistings, the bank has also been recognised for its services to the wider asset finance broker market by being shortlisted in the category of ‘Broker Champion Lessor of the Year’.

Kevin Flowerday, Head of Technology Finance and Professional Lending at United Trust Bank, said:

“I’m delighted that our technology finance agreements have been recognised by being shortlisted in these two prestigious industry awards. These new facilities have enabled the broker market to go back to their IT resellers and show them that they can offer a full range of finance facilities for the products that they currently sell, and more importantly have the facilities in place to support the resellers’ customers purchases of software as the market continues to move towards cloud software and storage.

“The technology market continues to move away from tangible asset finance to intangible finance as businesses invest in bespoke software and off premise solutions. Included within most license upgrades these days are high levels of up front and ongoing services that traditional financing methods have been unable to cater for. Our solution addresses this problem directly and gives brokers a product which satisfies the needs of all parties.”