Auto Captives Summit 2018 – time to Think Bigger!

A powerful line-up of innovators, disrupters and industry leaders are set to deliver thought-provoking sessions at the upcoming Auto Captives Summit, at the famous London Shard on 25th January 2018! Don’t miss this unique opportunity to attend White Clarke Group's 3rd annual event, network with senior executives from across the Globe, and enjoy the views from one of London’s most prestigious conference venues.

Auto Captives Summit 2018 – time to Think Bigger!

Nov 20, 2017

A powerful line-up of innovators, disrupters and industry leaders are set to deliver thought-provoking sessions at the upcoming Auto Captives Summit, at the famous London Shard on 25th January 2018! Don’t miss this unique opportunity to attend White Clarke Group's 3rd annual event, network with senior executives from across the Globe, and enjoy the views from one of London’s most prestigious conference venues.

Fleet Renting selects Bynx to support Mexican mobility strategy

Mexico-based start-up Fleet Renting has selected Bynx as its technology partner for a new generation of integrated vehicle mobility solutions. Fleet Renting aims to be one of the first complete and integrated mobility service providers for corporate and private customers in Mexico. As part of this, it has selected bynxFLEET, along with its rapid implementation service bynxGO, as its dedicated fleet and mobility management platform.

Fleet Renting selects Bynx to support Mexican mobility strategy

Nov 17, 2017

Mexico-based start-up Fleet Renting has selected Bynx as its technology partner for a new generation of integrated vehicle mobility solutions. Fleet Renting aims to be one of the first complete and integrated mobility service providers for corporate and private customers in Mexico. As part of this, it has selected bynxFLEET, along with its rapid implementation service bynxGO, as its dedicated fleet and mobility management platform.

New sales director for cap hpi

Automotive data expert cap hpi has promoted John Dennis to the role of UK sales director. Dennis initially joined the business in 2003 as a key account manager and most recently was head of finance. In a former post as national sector manager, he led the finance sales function and played a key role in supporting the company’s continued growth.

New sales director for cap hpi

Nov 17, 2017

Automotive data expert cap hpi has promoted John Dennis to the role of UK sales director. Dennis initially joined the business in 2003 as a key account manager and most recently was head of finance. In a former post as national sector manager, he led the finance sales function and played a key role in supporting the company’s continued growth.

Embrace mobility disruption and really get to know your customer

Auto finance companies need to develop a much deeper understanding of their customers if they are to successfully launch new services that meet changing demands. Although processes such as ‘Know Your Customer’ provide valuable insight to avoid fraud and ensure affordability of loans, they don’t go far enough in understanding the nuances that indicate changing customer expectations when it comes to the finance products they use. Without this insight, established finance providers face losing market share to disruptive competitors that are focused on getting closer to customers and offering innovative products that are more flexible and personalised. Graeme Banister, an independent specialist in mobility issues, recently told finance executives: “As car finance companies, you know about ‘KYC – Know Your Customer’. I challenge all car finance companies, because you don’t actually know a lot about your customers.”

Embrace mobility disruption and really get to know your customer

Nov 15, 2017

Auto finance companies need to develop a much deeper understanding of their customers if they are to successfully launch new services that meet changing demands. Although processes such as ‘Know Your Customer’ provide valuable insight to avoid fraud and ensure affordability of loans, they don’t go far enough in understanding the nuances that indicate changing customer expectations when it comes to the finance products they use. Without this insight, established finance providers face losing market share to disruptive competitors that are focused on getting closer to customers and offering innovative products that are more flexible and personalised. Graeme Banister, an independent specialist in mobility issues, recently told finance executives: “As car finance companies, you know about ‘KYC – Know Your Customer’. I challenge all car finance companies, because you don’t actually know a lot about your customers.”

Leaseurope urges caution following approval of new accounting rules

Leaseurope has called for restraint in the roll out of new international accounting standards after they received EU approval. The international lease accounting standard IFRS 16 received official endorsement last week and is set to become mandatory from January 2019.

Leaseurope urges caution following approval of new accounting rules

Nov 17, 2017

Leaseurope has called for restraint in the roll out of new international accounting standards after they received EU approval. The international lease accounting standard IFRS 16 received official endorsement last week and is set to become mandatory from January 2019.

Equifax results a ‘stern warning’ to industry over cyber-security

Finance companies have been urged to consider the costs of cyber-security failures after details emerged of the financial impact of a security breach at Equifax earlier this year. The costs related to a cyber-attack at the global credit monitoring firm totaled around $87 million in its third-quarter results for 2017. Although the company reported revenue of $834.8 million in Q3 2017, a 4% increase on the same period last year, net income was down 27% to $96.3 million.

Equifax results a ‘stern warning’ to industry over cyber-security

Nov 17, 2017

Finance companies have been urged to consider the costs of cyber-security failures after details emerged of the financial impact of a security breach at Equifax earlier this year. The costs related to a cyber-attack at the global credit monitoring firm totaled around $87 million in its third-quarter results for 2017. Although the company reported revenue of $834.8 million in Q3 2017, a 4% increase on the same period last year, net income was down 27% to $96.3 million.

Jacqui Barker joins iVendi as first head of OEM relations

Automotive industry specialist Jacqui Barker has been appointed to the newly-created position of head of OEM relations at iVendi. Barker joins from AutoTrader, where she spent four years as client development director.

Jacqui Barker joins iVendi as first head of OEM relations

Nov 17, 2017

Automotive industry specialist Jacqui Barker has been appointed to the newly-created position of head of OEM relations at iVendi. Barker joins from AutoTrader, where she spent four years as client development director.

UK launches inquiry into potential of Mobility as a Service

A committtee of UK MPs has launched an inquiry into the transformative potential of Mobility as a Service apps and how to overcome barriers to their implementation. The Transport Select Committee is calling for written evidence to be submitted by Friday, 22 December 2017.

UK launches inquiry into potential of Mobility as a Service

Nov 16, 2017

A committtee of UK MPs has launched an inquiry into the transformative potential of Mobility as a Service apps and how to overcome barriers to their implementation. The Transport Select Committee is calling for written evidence to be submitted by Friday, 22 December 2017.

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UK consumer new car finance volumes fall

New business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, latest figures from the UK’s Finance & Leasing Association (FLA) show. Its research also showed that growth in the value of new business was flat over the same period. In Q3 2017 overall, new business was up 1% by value, but fell 9% by volume.

UK consumer new car finance volumes fall

Nov 16, 2017

New business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, latest figures from the UK’s Finance & Leasing Association (FLA) show. Its research also showed that growth in the value of new business was flat over the same period. In Q3 2017 overall, new business was up 1% by value, but fell 9% by volume.

Fintech company offers enhanced fraud insight for industry

A fintech company's new platform could help finance providers to safeguard their investments with greater levels of insight into key individuals in companies that receive their funds. Neotas alerts investors to cases of fraud and false identity or even incidents of inappropriate or suspicious behaviour on the part of CEOs or entrepreneurs.

Fintech company offers enhanced fraud insight for industry

Nov 16, 2017

A fintech company's new platform could help finance providers to safeguard their investments with greater levels of insight into key individuals in companies that receive their funds. Neotas alerts investors to cases of fraud and false identity or even incidents of inappropriate or suspicious behaviour on the part of CEOs or entrepreneurs.

Leading industry investors drive Cazana’s growth plans

Used vehicle database Cazana has received investment totaling £1.75m to continue its rapid growth, with major industry names among the backers. Robert Diamond, former managing director of the RAC, has become a key adviser to Cazana, together with Andy Homer, the former CEO of Aviva and AXA. Further investment has been secured from Origin Capital and Passion Capital, which was set up by investor behind the innovative mobile-only bank Monzo.

Leading industry investors drive Cazana’s growth plans

Nov 16, 2017

Used vehicle database Cazana has received investment totaling £1.75m to continue its rapid growth, with major industry names among the backers. Robert Diamond, former managing director of the RAC, has become a key adviser to Cazana, together with Andy Homer, the former CEO of Aviva and AXA. Further investment has been secured from Origin Capital and Passion Capital, which was set up by investor behind the innovative mobile-only bank Monzo.

Alfa joins Stonewall Diversity Champions programme

Alfa, the global provider of software and services to the automotive and equipment finance industries, has announced a partnership with Stonewall, Europe’s largest LGBT rights organisation. Alfa has joined the Stonewall Diversity Champions Programme, the UK’s largest community of professionals dedicated to equality, diversity and inclusion, and the leading employers' programme for ensuring all LGBT staff are accepted without exception in the workplace.

Alfa joins Stonewall Diversity Champions programme

Nov 16, 2017

Alfa, the global provider of software and services to the automotive and equipment finance industries, has announced a partnership with Stonewall, Europe’s largest LGBT rights organisation. Alfa has joined the Stonewall Diversity Champions Programme, the UK’s largest community of professionals dedicated to equality, diversity and inclusion, and the leading employers' programme for ensuring all LGBT staff are accepted without exception in the workplace.

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Volvo Financial Services launches in South Africa

Volvo Financial Services, the global captive finance arm of the Volvo Group, has announced the launch of its operation in South Africa. Volvo Financial Services Southern Africa (Pty) will provide financial services to the customers of Volvo Group’s truck and bus industry brands, currently operating as part of Volvo Group Southern Africa, including UD Trucks, Volvo Bus, Volvo Trucks, and Volvo CE.

Volvo Financial Services launches in South Africa

Nov 16, 2017

Volvo Financial Services, the global captive finance arm of the Volvo Group, has announced the launch of its operation in South Africa. Volvo Financial Services Southern Africa (Pty) will provide financial services to the customers of Volvo Group’s truck and bus industry brands, currently operating as part of Volvo Group Southern Africa, including UD Trucks, Volvo Bus, Volvo Trucks, and Volvo CE.

UK businesses urged to consider asset finance

Fewer than one-third of UK companies say they have used asset finance or plan to use it in the next year, according to new research. Niche bank Cambridge & Counties Bank found that 29% of respondents said their firm had used asset finance. Fewer (26%) said they were planning on using asset finance over the next 12 months.

UK businesses urged to consider asset finance

Nov 16, 2017

Fewer than one-third of UK companies say they have used asset finance or plan to use it in the next year, according to new research. Niche bank Cambridge & Counties Bank found that 29% of respondents said their firm had used asset finance. Fewer (26%) said they were planning on using asset finance over the next 12 months.

Companies debate getting the most out of connected car data

Automotive e-commerce solutions company epyx has opened talks with telematics providers to review strategies for getting the most out of connected car service and maintenance data. Epyx says that businesses collecting this information often have no means of processing it effectively – but it already has a comprehensive infrastructure in place.

Companies debate getting the most out of connected car data

Nov 14, 2017

Automotive e-commerce solutions company epyx has opened talks with telematics providers to review strategies for getting the most out of connected car service and maintenance data. Epyx says that businesses collecting this information often have no means of processing it effectively – but it already has a comprehensive infrastructure in place.

Innovate UK launches £50m small business loans scheme

Small businesses with ground-breaking ideas will be able to access new innovation loans from government-funded body Innovate UK. The first competition for the government-backed loans will allow businesses to access between £100,000 and £1 million on flexible, affordable terms.

Innovate UK launches £50m small business loans scheme

Nov 14, 2017

Small businesses with ground-breaking ideas will be able to access new innovation loans from government-funded body Innovate UK. The first competition for the government-backed loans will allow businesses to access between £100,000 and £1 million on flexible, affordable terms.

New president for National Equipment Finance Association

Mike Coon, vice president of syndications at independent equipment finance company Amur Equipment Finance (AmurEF), has been elected president and chairman of the board of directors of the National Equipment Finance Association (NEFA). He will serve for the remainder of 2017 and 2018.

New president for National Equipment Finance Association

Nov 15, 2017

Mike Coon, vice president of syndications at independent equipment finance company Amur Equipment Finance (AmurEF), has been elected president and chairman of the board of directors of the National Equipment Finance Association (NEFA). He will serve for the remainder of 2017 and 2018.

FLY leasing revenues hit by lessee collapse

Global aircraft leasing company FLY Leasing Limited has announced a net loss of $12.5 million in the third quarter of 2017, which the company says is primarily driven by a $22 million non-cash impairment charge resulting from the financial collapse of one of its lessees. Dublin-based FLY leases its aircraft under multi-year lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by US specialist BBAM, a worldwide leader in aircraft lease management and financing.

FLY leasing revenues hit by lessee collapse

Nov 15, 2017

Global aircraft leasing company FLY Leasing Limited has announced a net loss of $12.5 million in the third quarter of 2017, which the company says is primarily driven by a $22 million non-cash impairment charge resulting from the financial collapse of one of its lessees. Dublin-based FLY leases its aircraft under multi-year lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by US specialist BBAM, a worldwide leader in aircraft lease management and financing.

Ally ploughs additional $1.4 billion into Carvana

Ally Financial has announced increasing its investment in Carvana to $2 billion, a leading e-commerce platform for buying used cars, over the next 12 months as part of the lender’s efforts to grow online initiatives to better reach customers and serve auto retailers. Under the agreement, Ally will make the funding available to Carvana for financing and bulk purchases of contracts. The agreement increases Ally's original $600 million commitment by an additional $1.4 billion.

Ally ploughs additional $1.4 billion into Carvana

Nov 15, 2017

Ally Financial has announced increasing its investment in Carvana to $2 billion, a leading e-commerce platform for buying used cars, over the next 12 months as part of the lender’s efforts to grow online initiatives to better reach customers and serve auto retailers. Under the agreement, Ally will make the funding available to Carvana for financing and bulk purchases of contracts. The agreement increases Ally's original $600 million commitment by an additional $1.4 billion.

Warning on longer auto loan terms

The US Consumer Financial Protection Bureau (CFPB) has released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans, with a move towards wider adoption of six-year paybacks. According to the report, 42% of auto loans made in the last year carried a payback term of six years or more, compared to just 26% in 2009. This growth has largely come at the expense of five-year loans, which declined over the same period.

Warning on longer auto loan terms

Nov 15, 2017

The US Consumer Financial Protection Bureau (CFPB) has released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans, with a move towards wider adoption of six-year paybacks. According to the report, 42% of auto loans made in the last year carried a payback term of six years or more, compared to just 26% in 2009. This growth has largely come at the expense of five-year loans, which declined over the same period.

Alta Group hires GE’s Valerie Pagliaro

The Alta Group consultancy has appointed Valerie Pagliaro, an executive with expertise in pricing analytics and financial planning in the equipment leasing industry, to the post of director. Pagliaro spent 25 years at GE Capital and its subsidiaries, playing a leadership role in mergers and acquisitions, financial and pricing analytics and structuring and negotiating deals across the US and Europe.

Alta Group hires GE’s Valerie Pagliaro

Nov 15, 2017

The Alta Group consultancy has appointed Valerie Pagliaro, an executive with expertise in pricing analytics and financial planning in the equipment leasing industry, to the post of director. Pagliaro spent 25 years at GE Capital and its subsidiaries, playing a leadership role in mergers and acquisitions, financial and pricing analytics and structuring and negotiating deals across the US and Europe.

Uber plans “sky taxis”

Ride-hailing specialist Uber is team up with government agency NASA to develop software to manage “flying taxi” routes. Speaking at the Web Summit internet conference in Lisbon, Uber’s chief product officer Jeff Holden said the company would begin testing four-passenger, 200-miles-per-hour flying taxi services across Los Angeles in 2020, its second planned test market after Dallas/Fort Worth.

Uber plans “sky taxis”

Nov 15, 2017

Ride-hailing specialist Uber is team up with government agency NASA to develop software to manage “flying taxi” routes. Speaking at the Web Summit internet conference in Lisbon, Uber’s chief product officer Jeff Holden said the company would begin testing four-passenger, 200-miles-per-hour flying taxi services across Los Angeles in 2020, its second planned test market after Dallas/Fort Worth.

Rivers Leasing in funding partnership with P2P lender Crowdstacker

Rivers Leasing has launched a £3 million loan notes investment opportunity with Crowdstacker, the ...

Mitsubishi Motors partners with Rockar to launch online buying service

Mitsubishi Motors in the UK has launched a new ‘buy online’ service. The Mitsubishi Buy Online po...

NIB and Deutsche Leasing Sverige launch new equipment finance fund

Nordic Investment Bank (NIB) and Deutsche Leasing Sverige have launched a €12 million facility to ...

Financial sector at greatest risk from hackers, report warns

Old and poorly-written code is exposing companies to hackers, with the financial sector at greates...