Last Monday, May 8th, the bustling metropolis of New York City played host to the highly anticipated Broker Fair Conference at the Hilton Midtown. This gathering of key players and professionals in the alternative business finance industry provided a platform for networking, knowledge-sharing, and exploring the future landscape of the sector. One of the highlights of the event was the presence of Trey Markel, the esteemed Vice President of Sales and Marketing for Centrex Software, who moderated a panel discussion on transacting in the year 2030 and presented some of the new cutting-edge technology developed by Centrex Software and its team. These technologies included the new Centrex White Label Mobile App, the new Centrex WordPress Plugin, the new Centrex API and Lender Submission API, and the new Centrex Managed Data Cloud product.
The Broker Fair Conference serves as a vital hub for the alternative business finance industry, which has witnessed tremendous growth in recent years. As traditional lending institutions have become more rigid in their lending practices, businesses have turned to alternative financing options to fuel their growth and overcome funding challenges. The alternative business finance industry includes various non-traditional methods such as merchant cash advances, asset-based lending, invoice factoring, and more.
Industry statistics reveal the significant impact of alternative business finance. According to recent data, the sector has experienced double-digit growth rates over the past decade, with a compound annual growth rate (CAGR) of 14.5% between 2010 and 2020. The total value of the alternative finance market reached a staggering $715 billion in 2022. These numbers underscore the importance of events like the Broker Fair Conference and software systems like Centrex, where industry leaders gather to exchange ideas, explore new technologies, and foster collaboration to further propel the industry’s growth.
During the conference, Trey Markel, led a captivating panel discussion on the future of transacting in the year 2030. Trey, with his extensive knowledge and experience in online payment processing and fintech, shed light on the emerging trends, challenges, and opportunities that the industry is expected to face over the next decade. The panelists: Dylan Brodeur and David Snitkof, engaged in thought-provoking conversations about the role of block chain and crypto currency, changing customer expectations, regulatory landscapes, and evolving business models in shaping the future of alternative business finance and payment processing.
In addition to moderating the panel discussion, Trey showcased some of the latest technological advancements from Centrex Software. The software company, renowned for its innovative solutions tailored for the alternative business finance industry, unveiled new tools and features designed to create more customer engagement, streamline processes, enhance underwriting accuracy, and improve overall operational efficiency. Attendees were captivated by the live demonstrations, which showcased the potential of technology in transforming the industry and meeting the evolving needs of businesses seeking alternative financing options.
The Broker Fair Conference not only showcased the latest advancements in the alternative business loan sector but also offered a prime opportunity for networking and collaboration. Attendees had the chance to connect with industry peers, forge new partnerships, and explore business opportunities. The event featured an exhibition hall where leading service providers, Funders, brokers, lenders, technology companies, and industry experts showcased their products and services, fostering a vibrant atmosphere of knowledge exchange and collaboration.
In conclusion, the Broker Fair Conference 2023 held at the Hilton Midtown in New York City proved to be an invaluable event for the alternative business finance industry. With Trey Markel at the helm of the panel discussion on transacting in the year 2030 and presenting the latest advancements from Centrex Software, attendees gained valuable insights into the future of the industry. The event served as a reminder of the significance of holding conferences like Broker Fair, bringing together industry leaders, fostering collaboration, and shaping the trajectory of alternative business finance towards a brighter and more prosperous future.
Thank you Sean Murray and the entire DeBanked team for their relentless hard work and efforts to make the Broker Fair show what it is today.