Departing President Leigh Lytle has positioned ELFA for tech success

Equipment Leasing and Finance Association President and Chief Executive Leigh Lytle has worked rigorously to position the industry for long-term success amid the tech revolution.  

Lytle, who recently announced that she will leave ELFA at the end of the year, took over the trade group in 2023 with a focus on helping equipment finance professionals capitalize on emerging technologies and adapt to market shifts.  

Equipment finance leaders have recognized “how thoughtfully and aggressively she moved this organization forward,” Jeffry Elliott, founder and CEO of Elevex Capital and treasurer of the ELFA board of directors, told Equipment Finance News.  

“She modernized ELFA’s technology from the ground up, meaningfully expanded our membership base and extended our advocacy reach to deliver wins this industry had pursued for years. She was always willing to challenge how things had always been done, and she did it with an unwavering focus on member value.” 

— Jeffry Elliott, CEO, Elevex Capital

Dan Corazzi, CEO of equipment finance technology provider Solifi, similarly told EFN that Lytle “advanced a more practical conversation around technology and AI through initiatives such as ELFie.” 

ELFie is a practical AI research tool built for ELFA members.  

“She understood that the future of equipment finance depends on modernizing how we operate while continuing to develop the people and policy environment that allow the industry to grow,” Corazzi said.  

Bridging the gap 

When she became CEO, Lytle knew that she could use her fintech background to “help bridge the digital gap in our industry,” she told EFN. 

“Over the past three years, we’ve focused heavily on practical education, helping members build real-world capability in everything from writing effective AI prompts to incorporating generative models into their core business operations,” Lytle said.

Modernization efforts are taking hold across the industry as lenders increase tech investments and establish “dedicated innovation practices,” Lytle said.

A growing number of technology providers as ELFA members also are “making a direct, noticeable impact across the sector,” she said. 

“We’re seeing emerging tech firms and startups utilize AI to match small businesses with optimal lenders and accelerate underwriting timelines significantly,” she said. Technology “gives us the speed, precision and scale to deliver a vastly improved experience for clients.”  

Tech providers that joined ELFA last year include:

• Axiom Payment Systems;
• CXtec;
• DataMerch;
• Initium SoftWorks;
• Jigyasa Analytics;
• Kaaj AI;
• Middesk;
• Sopra Financing Software;
• Trust2Connect;
• Vervent; and
• Zadoon. 

AI revolution  

Lytle’s tenure and approaching departure coincide with rapid AI advancements.  

ELFA is leading by example to help the industry navigate the AI revolution, Lytle said, noting that the trade group has unified its CRM and other systems into a single platform.  

“Building on that foundation, our next major initiative is a member-facing data lake house that will modernize how we store, analyze and deliver our proprietary research, giving members the data-driven intelligence they need to make faster, smarter decisions,” she said.  

A data lake house is a type of architecture used to store, govern, analyze and retrieve data.  

As ELFA searches for its next leader, industry professionals are optimistic that Lytle’s “combination of advocacy, innovation and workforce development will have a lasting impact,” Solifi’s Corazzi said.  

Check out our exclusive industry data here.