Businesses need to be “future ready” post-pandemic, says Sofico UK

With Covid restrictions set to ease in the coming weeks, there are concerns that some companies may fail to take onboard the lessons learned about the importance of technology in enabling businesses to be “future ready” with an ability to adapt and reconfigure business processes in an agile and flexible way in the face of major, business-changing incidents, according to global software solutions provider Sofico.

Businesses need to be “future ready” post-pandemic, says Sofico UK

Jan 25, 2022

With Covid restrictions set to ease in the coming weeks, there are concerns that some companies may fail to take onboard the lessons learned about the importance of technology in enabling businesses to be “future ready” with an ability to adapt and reconfigure business processes in an agile and flexible way in the face of major, business-changing incidents, according to global software solutions provider Sofico.

Haydock builds up customer service and sector expertise with new appointments

SME business finance specialist Haydock Finance has recruited Daniel Nield as head of operations to support the firm’s service delivery. Nield brings 21 years of experience to the position with a strong focus on operations team management plus system implementation and product development. Prior to joining Haydock, Nield was head of operations for Santander Asset Finance, covering specialist and general asset sectors across SME and larger corporate lending. Reporting to operations director Steve Worrall, in his new role Nield will be responsible for further improving service delivery to help ensure that Haydock provides the best possible customer experience.

Haydock builds up customer service and sector expertise with new appointments

Jan 25, 2022

SME business finance specialist Haydock Finance has recruited Daniel Nield as head of operations to support the firm’s service delivery. Nield brings 21 years of experience to the position with a strong focus on operations team management plus system implementation and product development. Prior to joining Haydock, Nield was head of operations for Santander Asset Finance, covering specialist and general asset sectors across SME and larger corporate lending. Reporting to operations director Steve Worrall, in his new role Nield will be responsible for further improving service delivery to help ensure that Haydock provides the best possible customer experience.

HPD Lendscape launches new asset finance offering

HPD Lendscape, a global provider in secured finance technology, is aiming to bring the full benefits of digital technology to lenders with the launch of Lendscape Asset Finance, a unified platform for all forms of secured lending which is designed to help banks and lenders boost productivity by streamlining everyday administrative tasks. The cloud-based contract management system offers an intuitive user interface, asset-level accounting, and the ability to manage all leases and loans on a single platform.

HPD Lendscape launches new asset finance offering

Jan 20, 2022

HPD Lendscape, a global provider in secured finance technology, is aiming to bring the full benefits of digital technology to lenders with the launch of Lendscape Asset Finance, a unified platform for all forms of secured lending which is designed to help banks and lenders boost productivity by streamlining everyday administrative tasks. The cloud-based contract management system offers an intuitive user interface, asset-level accounting, and the ability to manage all leases and loans on a single platform.

 
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Asset Finance Europe 50 2021 - delivering growth in a complex market

The annual ranking of Europe’s leading asset finance providers reveals today the leasing companies that delivered industry growth during a year in which the pandemic reshaped global trade. The Asset Finance Europe 50 is the unique European annual ranking survey of business equipment and fleet lessors that provides an objective overview of all parts of the regions’ leasing market. The research reveals that the industry managed to maintain overall growth despite the impact of the pandemic, although at much lower levels than previous years, as expansion for some providers was offset by reduced receivables for others.

Asset Finance Europe 50 2021 - delivering growth in a complex market

Dec 14, 2021

The annual ranking of Europe’s leading asset finance providers reveals today the leasing companies that delivered industry growth during a year in which the pandemic reshaped global trade. The Asset Finance Europe 50 is the unique European annual ranking survey of business equipment and fleet lessors that provides an objective overview of all parts of the regions’ leasing market. The research reveals that the industry managed to maintain overall growth despite the impact of the pandemic, although at much lower levels than previous years, as expansion for some providers was offset by reduced receivables for others.

 

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Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

A new auto finance ecosystem is needed in which funders work with dealers and suppliers, including software providers, to build the processes and systems that support a digitalised, flexible finance journey for customers, according to a report published today by the International Asset Finance Network, in association with White Clarke Group (an IDS company). The report, called ‘Auto Finance Leaders Strategic Plan 2021’, reveals unique insights from auto finance industry leaders on the importance of changing the traditional business cycle to create products that drive revenue through renewal and long-term customer loyalty.

Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

Aug 18, 2021

A new auto finance ecosystem is needed in which funders work with dealers and suppliers, including software providers, to build the processes and systems that support a digitalised, flexible finance journey for customers, according to a report published today by the International Asset Finance Network, in association with White Clarke Group (an IDS company). The report, called ‘Auto Finance Leaders Strategic Plan 2021’, reveals unique insights from auto finance industry leaders on the importance of changing the traditional business cycle to create products that drive revenue through renewal and long-term customer loyalty.

 
 

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UK asset finance industry needs to get serious about fraud prevention

It seems like every five years or so that the asset finance community in the UK revisits often-discussed plans to establish an asset register to protect themselves against fraud. Now is just such a time, with an estimated 55 industry lenders facing the prospect of losing cumulatively £282 million of outstandings which together they provided to a single organisation, secured against equipment which may well never have existed. Will the latest alleged fraud be enough to encourage lenders to follow through on developing tools and systems that help to prevent such frauds?

UK asset finance industry needs to get serious about fraud prevention

Jan 19, 2022

It seems like every five years or so that the asset finance community in the UK revisits often-discussed plans to establish an asset register to protect themselves against fraud. Now is just such a time, with an estimated 55 industry lenders facing the prospect of losing cumulatively £282 million of outstandings which together they provided to a single organisation, secured against equipment which may well never have existed. Will the latest alleged fraud be enough to encourage lenders to follow through on developing tools and systems that help to prevent such frauds?

Richard Branson among investors in UK-based autonomous vehicle start-up

London-based autonomous vehicle (AV) start-up Wayve has raised $200 million from a prominent group of global financial and strategic investors for investment in further development of its artificial intelligence (AI) led approach on a global scale. They include D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures and Linse Capital, as well as additional support from Microsoft and Virgin, and early-stage investors Compound and Balderton Capital, who join strategic investor Ocado Group and angel investors, including Sir Richard Branson.

Richard Branson among investors in UK-based autonomous vehicle start-up

Jan 19, 2022

London-based autonomous vehicle (AV) start-up Wayve has raised $200 million from a prominent group of global financial and strategic investors for investment in further development of its artificial intelligence (AI) led approach on a global scale. They include D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures and Linse Capital, as well as additional support from Microsoft and Virgin, and early-stage investors Compound and Balderton Capital, who join strategic investor Ocado Group and angel investors, including Sir Richard Branson.

Plan for ‘pay-per-mile’ for London road users

Drivers in London could be paying by the mile for travelling on the capital’s roads by the end of this decade, as part of moves to reduce car traffic by 27% by 2030. A report commissioned by the Mayor of London suggests abolishing all existing road user charges – such as the Congestion Charge and ULEZ - and replacing them with a pay per mile scheme, with different rates depending on how polluting vehicles are, the level of congestion in the area and access to public transport.

Plan for ‘pay-per-mile’ for London road users

Jan 19, 2022

Drivers in London could be paying by the mile for travelling on the capital’s roads by the end of this decade, as part of moves to reduce car traffic by 27% by 2030. A report commissioned by the Mayor of London suggests abolishing all existing road user charges – such as the Congestion Charge and ULEZ - and replacing them with a pay per mile scheme, with different rates depending on how polluting vehicles are, the level of congestion in the area and access to public transport.

 

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Auto retailers face “new normal” focused on margin retention

The automotive sector will not return to pre-Covid norms at any point in the next 12 months, according to analysis from Cox Automotive, which cautions retailers will have to adapt to a “new normal”, focusing on margin retention and profit. While demand will remain high, supply will stay low as the ongoing raw material and semiconductor shortages affecting the new car market and filtering down to the used car market are unlikely to ease until later this year.

Auto retailers face “new normal” focused on margin retention

Jan 14, 2022

The automotive sector will not return to pre-Covid norms at any point in the next 12 months, according to analysis from Cox Automotive, which cautions retailers will have to adapt to a “new normal”, focusing on margin retention and profit. While demand will remain high, supply will stay low as the ongoing raw material and semiconductor shortages affecting the new car market and filtering down to the used car market are unlikely to ease until later this year.

Digital INNK wins funding for innovative fleet in-life vehicle services technology ecosystem

Auto-tech software development house Digital INNK has secured high levels of investment interest for ViSN, its innovative technology platform for fleet in-life vehicle services, with its Series A funding round overfunding in a matter of days. The digital disrupter’s new shareholders are a composite of European and US investors comprising Family Offices and HNWs, many coming with strategically relevant relationships and sector experience. The company, which has spent more than four years developing ViSN, said the new funds will accelerate commercialisation of its ground-breaking platform in the UK and abroad.

Digital INNK wins funding for innovative fleet in-life vehicle services technology ecosystem

Jan 13, 2022

Auto-tech software development house Digital INNK has secured high levels of investment interest for ViSN, its innovative technology platform for fleet in-life vehicle services, with its Series A funding round overfunding in a matter of days. The digital disrupter’s new shareholders are a composite of European and US investors comprising Family Offices and HNWs, many coming with strategically relevant relationships and sector experience. The company, which has spent more than four years developing ViSN, said the new funds will accelerate commercialisation of its ground-breaking platform in the UK and abroad.

Risk of a ‘hard landing’ ahead for economy

Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to slow markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.

Risk of a ‘hard landing’ ahead for economy

Jan 13, 2022

Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to slow markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.

 

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Drivers resistant to switch to EVs

A quarter of drivers would rather choose a used petrol or diesel car than switch to an electric vehicle (EV) once the ban on the sale of new ICE cars takes effect, according to a survey carried out by Aston University for EV salary sacrifice and fleet management specialist, Fleet Evolution. Results from the attitude survey, which went out to around 10,000 drivers, fleet and HR managers, small businesses and private motorists, indicate a lack of knowledge and entrenched attitudes continue to exist towards EVs, the company said.

Drivers resistant to switch to EVs

Jan 13, 2022

A quarter of drivers would rather choose a used petrol or diesel car than switch to an electric vehicle (EV) once the ban on the sale of new ICE cars takes effect, according to a survey carried out by Aston University for EV salary sacrifice and fleet management specialist, Fleet Evolution. Results from the attitude survey, which went out to around 10,000 drivers, fleet and HR managers, small businesses and private motorists, indicate a lack of knowledge and entrenched attitudes continue to exist towards EVs, the company said.

Receivables finance 2.0: How blockchain can deliver enhanced security, efficiency, and cost-effectiveness

The invoice and trade finance industry is ideally suited to the benefits of blockchain technology, which could improve data accuracy, increase security and improve transaction efficiency, according to Adi Ben-Ari, founder and CEO of Applied Blockchain. He explains how it could benefit the industry.

Receivables finance 2.0: How blockchain can deliver enhanced security, efficiency, and cost-effectiveness

Jan 12, 2022

The invoice and trade finance industry is ideally suited to the benefits of blockchain technology, which could improve data accuracy, increase security and improve transaction efficiency, according to Adi Ben-Ari, founder and CEO of Applied Blockchain. He explains how it could benefit the industry.

ALD and LeasePlan to combine to form new mobility giant

ALD is to acquire 100% of LeasePlan in a €4.9 billion deal heralded as a ‘step change’ and one which signals a major shakeup of the fleet and mobility sector. The combined company, currently named “NewALD”, will have a fleet of some 3.5 million vehicles worldwide, predicted to grow at 6% annually. The move creates a leading global mobility player, with ALD stating the transaction offers substantial synergies and economies of scale, and will generate significant value for shareholders. The proposed acquisition, scheduled to close at the end of the year, will see ALD acquire 100% of LeasePlan from a consortium led by TDR Capital through a combination of cash and shares.

ALD and LeasePlan to combine to form new mobility giant

Jan 06, 2022

ALD is to acquire 100% of LeasePlan in a €4.9 billion deal heralded as a ‘step change’ and one which signals a major shakeup of the fleet and mobility sector. The combined company, currently named “NewALD”, will have a fleet of some 3.5 million vehicles worldwide, predicted to grow at 6% annually. The move creates a leading global mobility player, with ALD stating the transaction offers substantial synergies and economies of scale, and will generate significant value for shareholders. The proposed acquisition, scheduled to close at the end of the year, will see ALD acquire 100% of LeasePlan from a consortium led by TDR Capital through a combination of cash and shares.

EV sales leap as Covid stalls 2021 UK new car market

Covid and the semiconductor shortage left their mark on the UK’s new car market, which ended last year 28.7% down on pre-pandemic 2019, representing the second worst year since 1992. However, 2021 was the most successful year in history for electric vehicle uptake as more new battery electric vehicles (BEVs) were registered than over the previous five years combined, according to data from the Society of Motor Manufacturers and Traders (SMMT). Overall, new car registrations grew by a marginal 1% on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market.

EV sales leap as Covid stalls 2021 UK new car market

Jan 07, 2022

Covid and the semiconductor shortage left their mark on the UK’s new car market, which ended last year 28.7% down on pre-pandemic 2019, representing the second worst year since 1992. However, 2021 was the most successful year in history for electric vehicle uptake as more new battery electric vehicles (BEVs) were registered than over the previous five years combined, according to data from the Society of Motor Manufacturers and Traders (SMMT). Overall, new car registrations grew by a marginal 1% on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market.

Stellantis to re-organise its finance offer

In a pre-Christmas announcement, Stellantis signalled its intention to streamline its European financing operations in order to create a leading operational leasing group and enhanced captive finance arm. The move, coming in the wake of last summer’s merger between the French Peugeot PSA and Italian FCA groups, is designed to spearhead a push into the mobility market.

Stellantis to re-organise its finance offer

Jan 06, 2022

In a pre-Christmas announcement, Stellantis signalled its intention to streamline its European financing operations in order to create a leading operational leasing group and enhanced captive finance arm. The move, coming in the wake of last summer’s merger between the French Peugeot PSA and Italian FCA groups, is designed to spearhead a push into the mobility market.

 

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Joanne Machin named as DRIVE CEO

Leasing and procurement specialist Joanne Machin has been appointed CEO of DRIVE Software Solution...

Bumpy road ahead for asset finance sector in 2022

News of a new Covid variant has meant hopes of a swift end to pandemic disruption are receding, an...

NatWest sells Ulster Bank’s Lombard asset finance business to Permanent TSB

Lombard Asset Finance has been acquired by Permanent TSB for €400m as part of a £7.6bn sale by Nat...

Mike Randall, CEO of Simply Asset Finance, appointed to the FLA board

The Finance & Leasing Association (FLA) has appointed Mike Randall as a board director with ef...

 

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