Finspection Insights
Asset Inspection Best Practices for Financial Institutions
Financial institutions rely on asset inspections to make informed lending and investment decisions. To ensure accuracy, it’s essential to follow best practices like scheduling regular reviews, maintaining detailed records, and using professional inspectors with specialised knowledge of the assets in question. Adopting these practices not only protects your investments but also streamlines the decision-making process.
The Importance of Mid-Term Inspections: Keeping Your Assets in Check
Mid-term inspections provide crucial insights into how an asset is performing during its lifecycle. These inspections help ensure that assets remain in good condition, are being properly maintained, and are not losing value faster than anticipated. By conducting mid-term inspections, you can stay ahead of any issues and unexpected losses down the line.
Why Independent Inspections Matter
The collapse of Arena Television in the UK, where over £280 million was loaned against allegedly non-existent assets, highlighted how asset finance can be vulnerable without physical verification. Dozens of lenders were impacted—despite documentation being in place. At Finspection, we provide independent, geo-verified inspections to help funders avoid similar risks and make lending decisions with confidence.
