[Report] Focusing On Customer Outcomes Through Servitization

An emerging key trend in the asset finance sector is the switch from ownership to usership, with consumers increasingly looking for pay-per-use assets rather than outright ownership. Leading software supplier White Clarke Group has sponsored a major piece of research into the implications of this process, dubbed “servitization”, to understand the impact on OEMs and lenders. The research was conducted by Aston Business School’s Advanced Services Group in partnership with White Clarke Group and consultancy firm Invigors. The study includes in-depth discussions and interviews with over 20 finance industry experts, with the first results having been presented at the International Asset Finance Network (IAFN) conference held in London on the 13th of June. The switch from ownership to usership has been most marked among younger consumers in the retail industry, who are increasingly moving to on-demand services. However, it is also now gaining traction across a wide range of industry sectors.

[Report] Focusing On Customer Outcomes Through Servitization

Jun 18, 2019

An emerging key trend in the asset finance sector is the switch from ownership to usership, with consumers increasingly looking for pay-per-use assets rather than outright ownership. Leading software supplier White Clarke Group has sponsored a major piece of research into the implications of this process, dubbed “servitization”, to understand the impact on OEMs and lenders. The research was conducted by Aston Business School’s Advanced Services Group in partnership with White Clarke Group and consultancy firm Invigors. The study includes in-depth discussions and interviews with over 20 finance industry experts, with the first results having been presented at the International Asset Finance Network (IAFN) conference held in London on the 13th of June. The switch from ownership to usership has been most marked among younger consumers in the retail industry, who are increasingly moving to on-demand services. However, it is also now gaining traction across a wide range of industry sectors.

 

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Millennials set to eclipse Baby Boomers in US auto market

For many years, the dominant players in the automotive consumer market have been Baby Boomers, (those born in the years following the Second World War) but forecasts indicate that Millennials (those reaching adulthood in the 21st Century) will become the largest demographic in the US this year. This is expected to have a significant impact on the way dealers interact with customers, as Millennials have a different set of expectations when it comes to the car buying process.

Millennials set to eclipse Baby Boomers in US auto market

Jun 24, 2019

For many years, the dominant players in the automotive consumer market have been Baby Boomers, (those born in the years following the Second World War) but forecasts indicate that Millennials (those reaching adulthood in the 21st Century) will become the largest demographic in the US this year. This is expected to have a significant impact on the way dealers interact with customers, as Millennials have a different set of expectations when it comes to the car buying process.

Rise of Finance 4.0 predicted to boost equipment manufacturer sales as $1 trillion market emerges

Equipment manufacturers expect to increase sales by up to 35% over the next five years by offering integrated financing options, new research has revealed. The findings come in a new research paper from Siemens Financial Services which examines how integrated finance could enable manufacturers to invest in and sell the connected technologies that will drive ‘Industry 4.0’. The finance company says Industry 4.0 transformation requires widespread investment in technology, which is presenting many OEMs’ customers with a major financial challenge.

Rise of Finance 4.0 predicted to boost equipment manufacturer sales as $1 trillion market emerges

Jun 20, 2019

Equipment manufacturers expect to increase sales by up to 35% over the next five years by offering integrated financing options, new research has revealed. The findings come in a new research paper from Siemens Financial Services which examines how integrated finance could enable manufacturers to invest in and sell the connected technologies that will drive ‘Industry 4.0’. The finance company says Industry 4.0 transformation requires widespread investment in technology, which is presenting many OEMs’ customers with a major financial challenge.

Industry praise for recipients of 2019 International Asset Finance Network Hall of Fame Awards

The four recipients of the 2019 International Asset Finance Network Hall of Fame Awards have been praised for their contribution to the industry. At the annual ceremony in London, recipients were honoured in four categories, covering fleet finance, equipment finance, retail auto finance and technology. The awards were presented by Najeed Ghauri, chairman and chief executive officer of NETSOL Technologies.

Industry praise for recipients of 2019 International Asset Finance Network Hall of Fame Awards

Jun 19, 2019

The four recipients of the 2019 International Asset Finance Network Hall of Fame Awards have been praised for their contribution to the industry. At the annual ceremony in London, recipients were honoured in four categories, covering fleet finance, equipment finance, retail auto finance and technology. The awards were presented by Najeed Ghauri, chairman and chief executive officer of NETSOL Technologies.

 

**NEW JOB VACANCY**

COPERNICUSCFO with Listing Experience Required.

Copernicus, the developers of the highly regarded Solar asset finance pricing, administration and accounting package, are looking for a CFO to take them to the next stage of their development by way of an AIM listing.

Following recent successes in the UK and USA Copernicus are looking to scale up their marketing and customer support operation by a listing on AIM. Candidates will have experience of an AIM listing or similar and preferably have a FinTech background.

Solar has been implemented at 5 sites in the USA with huge opportunities for further expansion. We are currently updating our existing client base in the UK as well as taking on new installations. We are also looking to expand into Europe and other territories. The data driven nature of Solar enables rapid implementations and ongoing reduced maintenance costs thus enabling us to provide a highly functional product as an extremely cost-effective SaaS.

Remuneration for the newly appointed CFO will be in line with experience. There will also be an opportunity to participate in the listing.

Contact: Please send your CV to the CEO of Copernicus allen.jones@copernicus.co.uk

 

 

AF50 2019 reveals UK’s biggest asset finance companies

The current leaders of the UK’s dynamic asset finance market have been revealed in the exclusive 2019 Asset Finance 50. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £38 billion, up 6.2% from £35.9 billion in last year’s report. The top 10 firms represent 60.6% of the AF50, up from 59.3% last year, with the largest company, Lombard, accounting for 15% of the market. In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.

AF50 2019 reveals UK’s biggest asset finance companies

May 22, 2019

The current leaders of the UK’s dynamic asset finance market have been revealed in the exclusive 2019 Asset Finance 50. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £38 billion, up 6.2% from £35.9 billion in last year’s report. The top 10 firms represent 60.6% of the AF50, up from 59.3% last year, with the largest company, Lombard, accounting for 15% of the market. In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.

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Secure Trust Bank gears up for auto sector growth with launch of V12 Vehicle Finance

Secure Trust Bank is creating a financial services hub for UK auto dealers with the launch of V12 Vehicle Finance. The launch is part of a strategy to treble the bank’s motor lending by 2023 to around £1 billion through a range of innovative services covering the sourcing, funding and financing of used cars and vans. To drive growth, it has developed a strategic partnership with innovative national vehicle remarketing specialist Aston Barclay Group to provide a broad service to dealers. A wholesale proposition, ‘Aston Barclay Stock Funding powered by V12 Vehicle Finance’, will support the remarketing company’s 6,000 buyers with rapid access to finance to fund a vehicle’s value, including auction fees, delivery charges and refurbishment costs up to £1,000, including VAT.

Secure Trust Bank gears up for auto sector growth with launch of V12 Vehicle Finance

Jun 18, 2019

Secure Trust Bank is creating a financial services hub for UK auto dealers with the launch of V12 Vehicle Finance. The launch is part of a strategy to treble the bank’s motor lending by 2023 to around £1 billion through a range of innovative services covering the sourcing, funding and financing of used cars and vans. To drive growth, it has developed a strategic partnership with innovative national vehicle remarketing specialist Aston Barclay Group to provide a broad service to dealers. A wholesale proposition, ‘Aston Barclay Stock Funding powered by V12 Vehicle Finance’, will support the remarketing company’s 6,000 buyers with rapid access to finance to fund a vehicle’s value, including auction fees, delivery charges and refurbishment costs up to £1,000, including VAT.

Macquarie Corporate & Asset Finance retains title at the annual Leasing Industry Great British Pub Quiz

Macquarie Corporate & Asset Finance have retained their title at the eighth annual Leasing Industry Great British Pub Quiz, hosted by New Leaf Search. The event saw nine teams battle for honours at The Counting House in London. Quizmaster Ben Eagle, part of the team that writes quiz content for TV shows including The Code, Child Genius and Only Connect, put nearly 60 guests through their paces, with the winners receiving an engraved glass award, bottle of champagne, pen and certificate.

Macquarie Corporate & Asset Finance retains title at the annual Leasing Industry Great British Pub Quiz

Jun 19, 2019

Macquarie Corporate & Asset Finance have retained their title at the eighth annual Leasing Industry Great British Pub Quiz, hosted by New Leaf Search. The event saw nine teams battle for honours at The Counting House in London. Quizmaster Ben Eagle, part of the team that writes quiz content for TV shows including The Code, Child Genius and Only Connect, put nearly 60 guests through their paces, with the winners receiving an engraved glass award, bottle of champagne, pen and certificate.

DLL plans future development of servitisation during 50th anniversary year

DLL has marked five decades of growth since its launch that have seen it expand from a three-employee company in a small Dutch village to a global vendor finance business with 5,000 employees in more than 30 countries. In a review of the company’s progress, Bill Stephenson (pictured), chief executive officer and chairman of the executive board at DLL, praised its “entrepreneurial, forward-looking culture”.

DLL plans future development of servitisation during 50th anniversary year

Jun 18, 2019

DLL has marked five decades of growth since its launch that have seen it expand from a three-employee company in a small Dutch village to a global vendor finance business with 5,000 employees in more than 30 countries. In a review of the company’s progress, Bill Stephenson (pictured), chief executive officer and chairman of the executive board at DLL, praised its “entrepreneurial, forward-looking culture”.

 

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International Asset Finance Network Conference attracts record audience to debate impact of digitalisation and servitisation

A record number of delegates attended the annual International Asset Finance Network conference in London to gain insights into the disruptive impact of digitalisation and servitisation. The packed event attracted more than 430 senior industry figures to network and discuss the most pressing strategic issues affecting their businesses. The packed agenda included the presentation of the findings of a major new study conducted by Professor Tim Baines of Aston Business School into the changing roles of fleet, auto retail and equipment finance providers as digitalisation and servitisation begins to transform the auto and equipment finance industry.

International Asset Finance Network Conference attracts record audience to debate impact of digitalisation and servitisation

Jun 14, 2019

A record number of delegates attended the annual International Asset Finance Network conference in London to gain insights into the disruptive impact of digitalisation and servitisation. The packed event attracted more than 430 senior industry figures to network and discuss the most pressing strategic issues affecting their businesses. The packed agenda included the presentation of the findings of a major new study conducted by Professor Tim Baines of Aston Business School into the changing roles of fleet, auto retail and equipment finance providers as digitalisation and servitisation begins to transform the auto and equipment finance industry.

IAFN Awards 2019 recognise the industry’s best and brightest

The annual International Asset Finance Network Awards have been announced during a gala dinner in London attended by hundreds of senior industry figures. In front of a record audience, the leading companies and business leaders were recognised in nearly 20 categories. Edward Peck, co-founder of the International Asset Finance Network and chief executive officer of Asset Finance International, presented a new line-up of awards celebrating the wide range of different types of organisation in the industry. Nearly 30 senior industry figures took the role of independent judges to determine the winners, with the process verified as fair by chairman Adrian Dally, head of motor finance at the Finance and Leasing Association.

IAFN Awards 2019 recognise the industry’s best and brightest

Jun 14, 2019

The annual International Asset Finance Network Awards have been announced during a gala dinner in London attended by hundreds of senior industry figures. In front of a record audience, the leading companies and business leaders were recognised in nearly 20 categories. Edward Peck, co-founder of the International Asset Finance Network and chief executive officer of Asset Finance International, presented a new line-up of awards celebrating the wide range of different types of organisation in the industry. Nearly 30 senior industry figures took the role of independent judges to determine the winners, with the process verified as fair by chairman Adrian Dally, head of motor finance at the Finance and Leasing Association.

Skoda trials Europe’s first university car-sharing service

Car manufacturer Skoda has developed a pioneering car-sharing platform for students who don’t want to commit to outright car ownership during their studies. Uniqway has been developed together with students from three Czech universities. Both students and faculty members only pay for what they use, with Uniqway prices starting from just over €1 per hour plus a small fee for every kilometre driven.

Skoda trials Europe’s first university car-sharing service

Jun 12, 2019

Car manufacturer Skoda has developed a pioneering car-sharing platform for students who don’t want to commit to outright car ownership during their studies. Uniqway has been developed together with students from three Czech universities. Both students and faculty members only pay for what they use, with Uniqway prices starting from just over €1 per hour plus a small fee for every kilometre driven.

 

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Pragmatic AI for asset finance

For several years now, presentations on digital technologies have dominated the agenda at asset finance industry conferences as well as being a key discussion point in many boardrooms. The ability to provide modern tools for customer or intermediary self-service along with finding improved ways to make better and more efficient business decisions are notable requirements for IT investment today. Recently, Artificial Intelligence (AI) has taken centre stage and is pushed from many quarters. At the same time, it can be hard to understand exactly what it is, and harder still to determine how it can be applied specifically to your business and bring material value. I am going to give my perspective on why AI has had its recent prominence, demystify it a little and explain how any asset finance company, not just the largest, can take pragmatic steps to applying AI in value-adding ways.

Pragmatic AI for asset finance

Jun 12, 2019

For several years now, presentations on digital technologies have dominated the agenda at asset finance industry conferences as well as being a key discussion point in many boardrooms. The ability to provide modern tools for customer or intermediary self-service along with finding improved ways to make better and more efficient business decisions are notable requirements for IT investment today. Recently, Artificial Intelligence (AI) has taken centre stage and is pushed from many quarters. At the same time, it can be hard to understand exactly what it is, and harder still to determine how it can be applied specifically to your business and bring material value. I am going to give my perspective on why AI has had its recent prominence, demystify it a little and explain how any asset finance company, not just the largest, can take pragmatic steps to applying AI in value-adding ways.

US car-buying platform Roadster expands into UK

Roadster, the US e-commerce solutions provider for dealerships, has expanded into the UK market, with pilot programmes already underway with dealers. Asset Finance International's Miles Rogerson spoke to Rob Abrahams, UK lead for Roadster, to find out more about the company’s expansion plans and how it took inspiration from the fashion industry for its development.

US car-buying platform Roadster expands into UK

Jun 12, 2019

Roadster, the US e-commerce solutions provider for dealerships, has expanded into the UK market, with pilot programmes already underway with dealers. Asset Finance International's Miles Rogerson spoke to Rob Abrahams, UK lead for Roadster, to find out more about the company’s expansion plans and how it took inspiration from the fashion industry for its development.

Electric future beckons as interest in zero-emission vehicles gathers pace

There will be strong future demand for a new generation of zero-emission vehicles as tolerance for cities choked by traffic pollution is fast disappearing, according to new claims by industry experts. By 2030, 70% of new car and van sales are expected to be zero-emission-capable vehicles, with the current rise in demand predicted to be the start of exponential growth in sales of ultra-low-emission transport. According to the European Automobile Manufacturers Association, across the European Union sales of plug-in vehicles rose 40% in the first quarter of 2019, compared to the same period last year. Sales of mild hybrid vehicles were up one-third. Total alternative fuel vehicle sales reached 341,000 in Q1, a year-on-year rise of 26%, while diesel sales fell 18% to 1.3 million and petrol vehicle sales grew 3% to 2.4 million.

Electric future beckons as interest in zero-emission vehicles gathers pace

Jun 11, 2019

There will be strong future demand for a new generation of zero-emission vehicles as tolerance for cities choked by traffic pollution is fast disappearing, according to new claims by industry experts. By 2030, 70% of new car and van sales are expected to be zero-emission-capable vehicles, with the current rise in demand predicted to be the start of exponential growth in sales of ultra-low-emission transport. According to the European Automobile Manufacturers Association, across the European Union sales of plug-in vehicles rose 40% in the first quarter of 2019, compared to the same period last year. Sales of mild hybrid vehicles were up one-third. Total alternative fuel vehicle sales reached 341,000 in Q1, a year-on-year rise of 26%, while diesel sales fell 18% to 1.3 million and petrol vehicle sales grew 3% to 2.4 million.

Chinese consumers embrace technology to power finance boom

Technologies that offer immediate access to buy-now-pay-later services are leading to a boom in demand for consumer finance in China as buyers maximise their spending power. For example, Wang Qianqian, a high school administrator in Shanghai, earns CHY6,000 ($871) a month, but still owns the new iPhone XS, which retails at around $1,000. Qianqian is a regular user of Huabei, a consumer credit service, that is spreading the cost of the phone over 24 monthly instalments. Qianqian’s views on borrowing reflect the changing attitudes of Chinese consumers: “Borrowing money is no longer a matter of survival but the financial awareness to enjoy life in advance. If you can get a loan, just get it."

Chinese consumers embrace technology to power finance boom

Jun 10, 2019

Technologies that offer immediate access to buy-now-pay-later services are leading to a boom in demand for consumer finance in China as buyers maximise their spending power. For example, Wang Qianqian, a high school administrator in Shanghai, earns CHY6,000 ($871) a month, but still owns the new iPhone XS, which retails at around $1,000. Qianqian is a regular user of Huabei, a consumer credit service, that is spreading the cost of the phone over 24 monthly instalments. Qianqian’s views on borrowing reflect the changing attitudes of Chinese consumers: “Borrowing money is no longer a matter of survival but the financial awareness to enjoy life in advance. If you can get a loan, just get it."

How technology is bringing customers closer to one-click finance

The finance industry is moving towards an environment where business customers can arrange funding with a single mouse click following rapid developments in technology and increasing adoption of digital banking services, according to a panel of experts. These advances are being accelerated because customers now expect a high degree of certainty about the outcome of finance applications early in the process, based on their experience with other digital services, delegates heard at a recent Leasing Foundation Innovation Initiative debate. Delegates were told that a combination of open banking technology and predictive analytics are allowing finance providers to automatically assess risk and obtain data that can be used to drive funding decisions.

How technology is bringing customers closer to one-click finance

Jun 10, 2019

The finance industry is moving towards an environment where business customers can arrange funding with a single mouse click following rapid developments in technology and increasing adoption of digital banking services, according to a panel of experts. These advances are being accelerated because customers now expect a high degree of certainty about the outcome of finance applications early in the process, based on their experience with other digital services, delegates heard at a recent Leasing Foundation Innovation Initiative debate. Delegates were told that a combination of open banking technology and predictive analytics are allowing finance providers to automatically assess risk and obtain data that can be used to drive funding decisions.

UK asset finance market grows by 7% in April

Asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial vehicle finance new business increased by 23% over the same period.

UK asset finance market grows by 7% in April

Jun 07, 2019

Asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial vehicle finance new business increased by 23% over the same period.

 

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UK council searches for asset finance partners in £24m Clean Air Zone fleet loan scheme

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