ABF Journal's Thought Leadership Podcast ABFJ Podcast 77: How Technology Is (and Isn't) Remaking Asset-Based Finance
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Jul 27, 2023 Jeremy Tsui, CEO of Finley and former debt banker at Goldman Sachs, explains why asset-backed finance is operationally messy. He covers the real limits of current tech, when to combine tools for larger portfolios, and practical AI uses like OCR and pattern detection. He also discusses what it takes for software to replace spreadsheets and how securitization and cheaper financing could evolve.
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Asset Complexity Drives ABF Difficulty
- Asset complexity is the core reason ABF transactions are operationally difficult rather than any single process failing.
- Different collateral types (leasing, auto, factoring) each require bespoke underwriting and there is no universal tool.
Founder Story Behind Finley
- Jeremy described his transition from Goldman Sachs investor to founding Finley after repeatedly hitting operational limits while scaling asset-backed portfolios.
- He told how a late-night conversation with his brother, a software veteran, sparked Finley's first prototype to apply Silicon Valley tools to complex finance.
No Single Source Of Truth Slows Deals
- Two big burdens are the many counterparties involved and the lack of a central source of truth across participants.
- Jeremy noted disputes over basic items like collateral value or ledger history can pause deals for days or weeks.