Hitachi Capital (UK) has secured more than £3.5 billion in new business across its five divisions in the past year, the company has revealed in its full-year results. For the 2017/18 financial year, pre-tax profits were £116.4 million, a rise of 7.1% compared to the previous year. This marks the ninth successive year the company has increased profits, which are now six times the level achieved in the full year ending in 2010 (£18.8 million).
Hitachi Capital (UK) has secured more than £3.5 billion in new business across its five divisions in the past year, the company has revealed in its full-year results. For the 2017/18 financial year, pre-tax profits were £116.4 million, a rise of 7.1% compared to the previous year. This marks the ninth successive year the company has increased profits, which are now six times the level achieved in the full year ending in 2010 (£18.8 million).
A platform connecting EV drivers and eco-friendly businesses has won a start-up battlefield competition hosted by Volkswagen Financial Service UK to identify new business ideas. Go To-U secured first place in the UK edition of the competition which saw entrants with ideas in three categories battle for a €15,000 grant and a place in the Volkswagen Future Mobility Incubator in Dresden.
A platform connecting EV drivers and eco-friendly businesses has won a start-up battlefield competition hosted by Volkswagen Financial Service UK to identify new business ideas. Go To-U secured first place in the UK edition of the competition which saw entrants with ideas in three categories battle for a €15,000 grant and a place in the Volkswagen Future Mobility Incubator in Dresden.
Cox Automotive has acquired the company that powers the vehicle subscription services of BMW, Mercedes-Benz and Porsche in the US as part of its strategic focus on mobility services. Clutch Technologies is a technology platform that supports subscription access to vehicles and it is at the heart of several new services, including Access by BMW, Mercedes-Benz Collection and Porsche Passport.
Cox Automotive has acquired the company that powers the vehicle subscription services of BMW, Mercedes-Benz and Porsche in the US as part of its strategic focus on mobility services. Clutch Technologies is a technology platform that supports subscription access to vehicles and it is at the heart of several new services, including Access by BMW, Mercedes-Benz Collection and Porsche Passport.
The latest developments in machine-human engagement can offer auto finance customers an ‘almost human’ experience that could transform service levels. Meet Rachel, a ‘digital human’ created by Soul Machines as part of its work with IBM to enable greater levels of face-to-face interaction in business. According to chief business officer Greg Cross: “Humans can communicate in lots of ways. But when we actually want to have important conversations we always do those face to face.” Delegates at the Auto Captive Summit, hosted by global finance technology supplier White Clarke Group, were able to see Rachel first-hand during a presentation by Toby Woolfe, industry solutions business development executive at IBM.
The latest developments in machine-human engagement can offer auto finance customers an ‘almost human’ experience that could transform service levels. Meet Rachel, a ‘digital human’ created by Soul Machines as part of its work with IBM to enable greater levels of face-to-face interaction in business. According to chief business officer Greg Cross: “Humans can communicate in lots of ways. But when we actually want to have important conversations we always do those face to face.” Delegates at the Auto Captive Summit, hosted by global finance technology supplier White Clarke Group, were able to see Rachel first-hand during a presentation by Toby Woolfe, industry solutions business development executive at IBM.
International Asset Finance Network (IAFN) has reported a record number of entries for its 2018 annual awards ceremony. Every year IAFN runs an awards programme. Nominations are judged by a panel of very senior industry executives and the winners receive their trophies at the awards dinner, which follows the conference. As the company has expanded IAFN’s programme to include equipment finance it has expanded the awards programme to cover equipment finance. As a result this year the judges are assessing the entries for some 20 industry awards.
International Asset Finance Network (IAFN) has reported a record number of entries for its 2018 annual awards ceremony. Every year IAFN runs an awards programme. Nominations are judged by a panel of very senior industry executives and the winners receive their trophies at the awards dinner, which follows the conference. As the company has expanded IAFN’s programme to include equipment finance it has expanded the awards programme to cover equipment finance. As a result this year the judges are assessing the entries for some 20 industry awards.
Secure Trust Bank has revealed a 31.3% year-on-year increase in group pre-tax profits to £15.1m for the first half of 2018. Senior executives say a repositioning of its business model towards lower risk lending in attractive market segments, and continued growth in both business finance and consumer finance, have led to income growth and reduced impairment losses. The business also reported a rise in operating income to £72.5 million, compared to £61.1 million in 2017 and total assets of £2.19 billion, up 34.4% from £1.63 billion for the same period last year.
Secure Trust Bank has revealed a 31.3% year-on-year increase in group pre-tax profits to £15.1m for the first half of 2018. Senior executives say a repositioning of its business model towards lower risk lending in attractive market segments, and continued growth in both business finance and consumer finance, have led to income growth and reduced impairment losses. The business also reported a rise in operating income to £72.5 million, compared to £61.1 million in 2017 and total assets of £2.19 billion, up 34.4% from £1.63 billion for the same period last year.
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017. There were falls in plant and machinery, business equipment and car finance, while IT, commercial vehicle, aircraft, ships and rolling stock showed year-on-year growth.
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017. There were falls in plant and machinery, business equipment and car finance, while IT, commercial vehicle, aircraft, ships and rolling stock showed year-on-year growth.
A skilled, diverse workforce is the key to successfully tackling the digitalisation challenge. By having different views and different backgrounds, a company can broaden its horizons and introduce new ideas and an enthusiasm for innovation that will lay the foundations for companies to adapt to change. According to Andy Denton, CEO of global financial software giant Alfa, companies need a cultural shift to embrace the potential of digitalisation.
A skilled, diverse workforce is the key to successfully tackling the digitalisation challenge. By having different views and different backgrounds, a company can broaden its horizons and introduce new ideas and an enthusiasm for innovation that will lay the foundations for companies to adapt to change. According to Andy Denton, CEO of global financial software giant Alfa, companies need a cultural shift to embrace the potential of digitalisation.
The value of advances for point-of-sale car finance grew 10% year-on-year in June compared to the same month in 2017, according to new figures released by the Finance & Leasing Association (FLA). While sales of new cars to consumers grew by 1% in June, compared to the same month in 2017, the value of new business was up by 9%. The percentage of private new car sales financed by FLA members through the POS was 89.5% in the 12 months to June. In the POS consumer used car finance market, new business was up 4% by volume and 11% by value, compared to the same month in 2017.
The value of advances for point-of-sale car finance grew 10% year-on-year in June compared to the same month in 2017, according to new figures released by the Finance & Leasing Association (FLA). While sales of new cars to consumers grew by 1% in June, compared to the same month in 2017, the value of new business was up by 9%. The percentage of private new car sales financed by FLA members through the POS was 89.5% in the 12 months to June. In the POS consumer used car finance market, new business was up 4% by volume and 11% by value, compared to the same month in 2017.
Credit Bank of Moscow has been included as the only Russian company in a global listing of 250 high growth businesses. The high growth ranking was created from the Forbes 2018 Global 2000 list and features the top performers in the ranking, based on compound annual growth rate of revenues from 2014 to 2017. All figures were converted into U.S. dollars, and rankings were carried out by Statista.
Credit Bank of Moscow has been included as the only Russian company in a global listing of 250 high growth businesses. The high growth ranking was created from the Forbes 2018 Global 2000 list and features the top performers in the ranking, based on compound annual growth rate of revenues from 2014 to 2017. All figures were converted into U.S. dollars, and rankings were carried out by Statista.
Giacomo Carelli, CEO of FCA bank is set to reveal his organisation’s plans to implement advanced solutions to soothing a critical pain point for all retail auto finance providers and their customers. He will explain how FCA Bank is planning to manage the transition from online research to the offline experience in the dealership (bridging the O2O divide). Research conducted by AdTaxi in March 2018 shows that at present 86% of car buyers start their buying journey with online research. Yet even in Germany the country with the highest levels of finance deals completed online – the digital channel still only accounts for 20% of finance transactions. Most customers still end up buying their finance offline in the dealership (73% in US; 63% in the UK and 44% in Germany).
Giacomo Carelli, CEO of FCA bank is set to reveal his organisation’s plans to implement advanced solutions to soothing a critical pain point for all retail auto finance providers and their customers. He will explain how FCA Bank is planning to manage the transition from online research to the offline experience in the dealership (bridging the O2O divide). Research conducted by AdTaxi in March 2018 shows that at present 86% of car buyers start their buying journey with online research. Yet even in Germany the country with the highest levels of finance deals completed online – the digital channel still only accounts for 20% of finance transactions. Most customers still end up buying their finance offline in the dealership (73% in US; 63% in the UK and 44% in Germany).
Miguel Cabaca, the new CEO of Arval UK is to present Fleet re-invented: driving mobility for consumers and businesses to an audience of up to 500 delegates at the IAFN Conference and Awards in London on 13 September 2018. This is a wide ranging presentation designed to will consider how to make sense of - and how to thrive in - the changing environment in which fleet companies are operating. It considers the roles each channel is playing, whilst assessing the future for dealers, brokers, manufacturers and for dealing direct with customers online.
Miguel Cabaca, the new CEO of Arval UK is to present Fleet re-invented: driving mobility for consumers and businesses to an audience of up to 500 delegates at the IAFN Conference and Awards in London on 13 September 2018. This is a wide ranging presentation designed to will consider how to make sense of - and how to thrive in - the changing environment in which fleet companies are operating. It considers the roles each channel is playing, whilst assessing the future for dealers, brokers, manufacturers and for dealing direct with customers online.
Orix Aviation is to acquire a 30% shareholding in international aircraft leasing company Avolon in a deal worth $2.2 billion. On completion of the deal, the revised Avolon board will have two Orix directors, three directors from Bohai Capital, one independent director and Avolon CEO Dómhnal Slattery as executive director. The purchase is expected to complete in the fourth quarter of 2018.
Orix Aviation is to acquire a 30% shareholding in international aircraft leasing company Avolon in a deal worth $2.2 billion. On completion of the deal, the revised Avolon board will have two Orix directors, three directors from Bohai Capital, one independent director and Avolon CEO Dómhnal Slattery as executive director. The purchase is expected to complete in the fourth quarter of 2018.
Signing up a customer is a make or break moment – get the onboarding process right, and it’s the perfect opportunity to win a customer’s loyalty. Get it wrong, and the customer may walk away, or the organisation can find itself exposed to unnecessary risks. Today’s customer is looking for speed, ease and convenience – whether online, through an intermediary, or in-branch. It’s no surprise that innovative financial services companies looking to win new customers and increase customer loyalty are turning to technology to help improve the customer experience.
Signing up a customer is a make or break moment – get the onboarding process right, and it’s the perfect opportunity to win a customer’s loyalty. Get it wrong, and the customer may walk away, or the organisation can find itself exposed to unnecessary risks. Today’s customer is looking for speed, ease and convenience – whether online, through an intermediary, or in-branch. It’s no surprise that innovative financial services companies looking to win new customers and increase customer loyalty are turning to technology to help improve the customer experience.
Equipment finance providers need to consider their future role in the industry as the market is reshaped by digitalisation and changing customer expectations. That’s the view of Charles Anderson, the chief executive officer and founder of technology platform Currency, which is driving the development of new digital channels in finance. Despite the size of the $1.7 trillion equipment purchase market, with $1.1 trillion in finance, the sector is ‘behind the curve’ compared to other finance verticals, such as credit cards, mortgage, auto loans and general consumer finance, he argues. Anderson believes it is not a question of ‘if’ the market will be reshaped by technology, but ‘when’, as the sector adapts to meet a huge unmet need for an updated, digital finance experience.
Equipment finance providers need to consider their future role in the industry as the market is reshaped by digitalisation and changing customer expectations. That’s the view of Charles Anderson, the chief executive officer and founder of technology platform Currency, which is driving the development of new digital channels in finance. Despite the size of the $1.7 trillion equipment purchase market, with $1.1 trillion in finance, the sector is ‘behind the curve’ compared to other finance verticals, such as credit cards, mortgage, auto loans and general consumer finance, he argues. Anderson believes it is not a question of ‘if’ the market will be reshaped by technology, but ‘when’, as the sector adapts to meet a huge unmet need for an updated, digital finance experience.
New regulations governing the use of customer data for marketing are still widely misunderstood across the automotive retail and finance sector, experts claim. The EU’s General Data Protection Regulation was introduced in May 2018 and has strengthened data protection regulations for all individuals within the EU, with the aim of give control of personal data back to consumers. While there are currently data protection laws in place, the new legislation increases the level of compliance needed by companies and also introduces tougher penalties for data breaches and service failures. However, executives at customer retention specialist Chrysalis Loyalty say there is still confusion about how GDPR affects customer renewal and retention marketing across the industry.
New regulations governing the use of customer data for marketing are still widely misunderstood across the automotive retail and finance sector, experts claim. The EU’s General Data Protection Regulation was introduced in May 2018 and has strengthened data protection regulations for all individuals within the EU, with the aim of give control of personal data back to consumers. While there are currently data protection laws in place, the new legislation increases the level of compliance needed by companies and also introduces tougher penalties for data breaches and service failures. However, executives at customer retention specialist Chrysalis Loyalty say there is still confusion about how GDPR affects customer renewal and retention marketing across the industry.
As the deadline for implementing the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) new lease accounting standard draws nearer, two new polls suggest US executives continue to have concerns about their organizations’ ability to comply. The new leasing standard, which takes effect for public companies on January 1, 2019, will result in nearly all leased assets and liabilities being brought onto corporate balance sheets.
As the deadline for implementing the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) new lease accounting standard draws nearer, two new polls suggest US executives continue to have concerns about their organizations’ ability to comply. The new leasing standard, which takes effect for public companies on January 1, 2019, will result in nearly all leased assets and liabilities being brought onto corporate balance sheets.
New Arval UK CEO set to reveal transformational changes to consumer mobility in keynote fleet speech at IAFN Conference and Awards
Orix in $2bn deal to acquire stake in Avolon
Customer onboarding: removing friction and reducing risk
Currency CEO Charles Anderson focuses on unique role for fintechs in equipment finance journey
GDPR confusion over ‘legitimate interest’ affects motor retail marketing
Organizations struggling with lease accounting deadline
Global network formed to develop fintech guidelines
Alberto Grippo leads new senior team at Leasys
Investec Materials Handling breaks £250m lending barrier
