BMW Group: changing gear to support auto finance customer needs

Asset Finance Connect to interview Mike Dennett, CEO of BMW Financial Services, and Spencer Halil, CCO of Alphabet, live online In an exclusive Asset Finance Connect webcast interview on 25 August, Mike Dennett, CEO of BMW Financial Services (GB) Limited and Spencer Halil, CCO of Alphabet (GB) Limited will discuss the UK auto finance industry and the challenges it currently faces. Together with AFC content leader David Betteley, they will consider the transition to BEV, supply chain issues, interest rate rises, cost-of-living crisis, and the new Consumer Duty regulation.

BMW Group: changing gear to support auto finance customer needs

Aug 12, 2022

Asset Finance Connect to interview Mike Dennett, CEO of BMW Financial Services, and Spencer Halil, CCO of Alphabet, live online In an exclusive Asset Finance Connect webcast interview on 25 August, Mike Dennett, CEO of BMW Financial Services (GB) Limited and Spencer Halil, CCO of Alphabet (GB) Limited will discuss the UK auto finance industry and the challenges it currently faces. Together with AFC content leader David Betteley, they will consider the transition to BEV, supply chain issues, interest rate rises, cost-of-living crisis, and the new Consumer Duty regulation.

UK companies hold steady despite economic onslaught

The latest edition of the Acquis equipment leasing index highlights that, in spite of the harsh economic environment, UK businesses are holding firm on last year’s position and signing a comparable number of new deals to lease essential equipment. From tractors and plant machinery, to photocopiers and laptops, figures were almost like for like when measured against the second quarter of 2021:

UK companies hold steady despite economic onslaught

Aug 11, 2022

The latest edition of the Acquis equipment leasing index highlights that, in spite of the harsh economic environment, UK businesses are holding firm on last year’s position and signing a comparable number of new deals to lease essential equipment. From tractors and plant machinery, to photocopiers and laptops, figures were almost like for like when measured against the second quarter of 2021:

Sharp drop in petrol and diesel fleets by 2025

Just half (50%) of vans and a little over a quarter (28%) of UK company cars are predicted to be using petrol or diesel power alone by 2025, according to findings from the latest Arval Mobility Observatory Barometer, which shows fleet and mobility decision makers expect electrification of their vehicle fleets to happen at speed.

Sharp drop in petrol and diesel fleets by 2025

Aug 11, 2022

Just half (50%) of vans and a little over a quarter (28%) of UK company cars are predicted to be using petrol or diesel power alone by 2025, according to findings from the latest Arval Mobility Observatory Barometer, which shows fleet and mobility decision makers expect electrification of their vehicle fleets to happen at speed.

 
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Alfa publishes new paper on systems integration

Alfa, the developer of Alfa Systems, the software platform for providers of automotive, wholesale and equipment finance, has published the third paper in its Innovation in Implementation series focusing on best practice in systems integration. Previous papers in the series, which guides decision-makers and project leads on how to approach modern enterprise software implementations, have discussed phased implementations and complex data migrations.

Alfa publishes new paper on systems integration

Aug 08, 2022

Alfa, the developer of Alfa Systems, the software platform for providers of automotive, wholesale and equipment finance, has published the third paper in its Innovation in Implementation series focusing on best practice in systems integration. Previous papers in the series, which guides decision-makers and project leads on how to approach modern enterprise software implementations, have discussed phased implementations and complex data migrations.

 

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Solifi Global Leasing Report 2022 reveals industry resilience in the face of pandemic challenges

A new report launched today provides a detailed insight into the impact of the global pandemic on the international asset finance industry and predicts a return to health for the market this year. The Solifi Global Leasing Report uncovers the real-world impact of the crisis as it unfolded, resulting in significant business reductions around the globe, but also some unexpected highlights.

Solifi Global Leasing Report 2022 reveals industry resilience in the face of pandemic challenges

Mar 02, 2022

A new report launched today provides a detailed insight into the impact of the global pandemic on the international asset finance industry and predicts a return to health for the market this year. The Solifi Global Leasing Report uncovers the real-world impact of the crisis as it unfolded, resulting in significant business reductions around the globe, but also some unexpected highlights.

 

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BCA Partner Finance extends Solifi Wholesale Finance contract

Solifi, a global fintech software provider for secured finance, has announced that British Car Auctions (BCA) has extended its Solifi platform contract to support the expansion of its wholesale finance offering. BCA Partner Finance processes more than 100,000 contracts and £1billion of funding per annum, and Solifi’s software-as-a-service (SaaS) technology offers BCA’s customers using the scheme greater flexibility in the stocking decisions they make, and the service frees up capital to enable investments in growth.

BCA Partner Finance extends Solifi Wholesale Finance contract

Aug 11, 2022

Solifi, a global fintech software provider for secured finance, has announced that British Car Auctions (BCA) has extended its Solifi platform contract to support the expansion of its wholesale finance offering. BCA Partner Finance processes more than 100,000 contracts and £1billion of funding per annum, and Solifi’s software-as-a-service (SaaS) technology offers BCA’s customers using the scheme greater flexibility in the stocking decisions they make, and the service frees up capital to enable investments in growth.

Automotive and mobility industry faces skills shortage

An acute skills shortage across the automotive and mobility industry is leaving businesses ill-equipped to take advantage of technological advances in electrification and digitalisation and leading to spiralling wage inflation as competition for talent intensifies, according to a new report from Ennis & Co.

Automotive and mobility industry faces skills shortage

Aug 04, 2022

An acute skills shortage across the automotive and mobility industry is leaving businesses ill-equipped to take advantage of technological advances in electrification and digitalisation and leading to spiralling wage inflation as competition for talent intensifies, according to a new report from Ennis & Co.

No cliff edge in sight for values says Cox Automotive

Cox Automotive has revised its quarterly and full-year used car market forecasts to reflect the changing shape of the market better. Despite signs of an end to significant rises in used vehicle values, the lack of new available stock means an imminent drop in pricing is unlikely.

No cliff edge in sight for values says Cox Automotive

Aug 03, 2022

Cox Automotive has revised its quarterly and full-year used car market forecasts to reflect the changing shape of the market better. Despite signs of an end to significant rises in used vehicle values, the lack of new available stock means an imminent drop in pricing is unlikely.

 

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BVRLA secures post-Brexit clarity for rental and leasing sectors

The BVRLA has helped to secure regulatory clarity around the legal status of rental and leasing firms in the vehicle supply chain. Following significant input from the association, the Competition and Markets Authority (CMA) has formally stated that rental and leasing firms can continue to be considered as ‘end users’, a status that was previously unconfirmed following the UK’s exit from the EU.

BVRLA secures post-Brexit clarity for rental and leasing sectors

Aug 03, 2022

The BVRLA has helped to secure regulatory clarity around the legal status of rental and leasing firms in the vehicle supply chain. Following significant input from the association, the Competition and Markets Authority (CMA) has formally stated that rental and leasing firms can continue to be considered as ‘end users’, a status that was previously unconfirmed following the UK’s exit from the EU.

FCA publishes Consumer Duty policy and guidance

The Financial Conduct Authority (FCA) has released its long-awaited policy statement and official guidance on plans to bring in a new Consumer Duty, aimed at making fundamental improvements to the way consumers are treated. It will set higher and clearer standards of consumer protection across financial services and includes a new Consumer Principle that “a firm must act to deliver good outcomes for retail customers”.

FCA publishes Consumer Duty policy and guidance

Jul 27, 2022

The Financial Conduct Authority (FCA) has released its long-awaited policy statement and official guidance on plans to bring in a new Consumer Duty, aimed at making fundamental improvements to the way consumers are treated. It will set higher and clearer standards of consumer protection across financial services and includes a new Consumer Principle that “a firm must act to deliver good outcomes for retail customers”.

PEAC builds up global footprint

The PEAC family of finance companies is pushing ahead with global expansion, with the news that the US-based Marlin Leasing Corporation has been acquired by funds managed by HPS Investment Partners and will be rebranded as PEAC Solutions. The PEAC family of finance companies includes PEAC UK and PEAC Europe, and collectively operates in 12 countries with balance sheet lease assets of over $5.1 billion and annual originations of more than $2.72 billion.

PEAC builds up global footprint

Jul 26, 2022

The PEAC family of finance companies is pushing ahead with global expansion, with the news that the US-based Marlin Leasing Corporation has been acquired by funds managed by HPS Investment Partners and will be rebranded as PEAC Solutions. The PEAC family of finance companies includes PEAC UK and PEAC Europe, and collectively operates in 12 countries with balance sheet lease assets of over $5.1 billion and annual originations of more than $2.72 billion.

 

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Fleet Alliance wins second accolade as ‘best workplace for women’

Leasing and fleet management specialist Fleet Alliance has been voted A Best Workplace For Women 2022, marking the second time the Glasgow-based company, which has a workforce with a 53/47 female to male ratio, has been recognised as a leader in embracing diversity at work. Fleet Alliance CEO, Andy Bruce, said: “We believe this award is particularly noteworthy because our business is immersed in the automotive industry which is male-dominated - something that we think needs to change.

Fleet Alliance wins second accolade as ‘best workplace for women’

Jul 29, 2022

Leasing and fleet management specialist Fleet Alliance has been voted A Best Workplace For Women 2022, marking the second time the Glasgow-based company, which has a workforce with a 53/47 female to male ratio, has been recognised as a leader in embracing diversity at work. Fleet Alliance CEO, Andy Bruce, said: “We believe this award is particularly noteworthy because our business is immersed in the automotive industry which is male-dominated - something that we think needs to change.

Finativ deepens motor finance expertise with new hires

Specialist consulting and advisory firm Finativ has announced two new appointments as part of its continued growth into the motor finance sector. Mobility expert Simon Harris (pictured right) joins as consulting director, along with Peter Cottle (pictured left), a former chair of the Finance & Leasing Association’s Motor Division.

Finativ deepens motor finance expertise with new hires

Jul 29, 2022

Specialist consulting and advisory firm Finativ has announced two new appointments as part of its continued growth into the motor finance sector. Mobility expert Simon Harris (pictured right) joins as consulting director, along with Peter Cottle (pictured left), a former chair of the Finance & Leasing Association’s Motor Division.

Simply Asset Finance posts H1 profit as revenues leap

Simply Asset Finance has announced profit of £3.7m for the first half of this year, signalling a continuing growth in profits after the lender first moved into profitability in 2021. Revenues have also continued to soar to £18m for the first six months of 2022.

Simply Asset Finance posts H1 profit as revenues leap

Jul 28, 2022

Simply Asset Finance has announced profit of £3.7m for the first half of this year, signalling a continuing growth in profits after the lender first moved into profitability in 2021. Revenues have also continued to soar to £18m for the first six months of 2022.

Andy Higgins joins fast-growing Propel Finance as head of credit

Leading UK independent asset finance lender Propel Finance has appointed Andy Higgins as its new head of credit following the continued expansion of the business. Propel recorded the largest percentage growth and the biggest advance up the table of leasing firms in the latest AF50 report. Higgins takes up his role with immediate effect and will be responsible for leading Propel’s business-wide credit activities, including underwriting, portfolio management and risk distribution.

Andy Higgins joins fast-growing Propel Finance as head of credit

Jul 28, 2022

Leading UK independent asset finance lender Propel Finance has appointed Andy Higgins as its new head of credit following the continued expansion of the business. Propel recorded the largest percentage growth and the biggest advance up the table of leasing firms in the latest AF50 report. Higgins takes up his role with immediate effect and will be responsible for leading Propel’s business-wide credit activities, including underwriting, portfolio management and risk distribution.

Leasing Foundation chair Nathan Mollett announces wider focus

Nathan Mollett, chair of the Leasing Foundation, has set out a vision for the future, dubbed ‘LP 3.0’, which will see the organisation address two additional channels of activity, broaden its work in the regions, and become more active in the auto finance area. The Foundation reported its existing channels of Innovation, NextGen, and Diversity & Inclusion (D&I), have been very successful and remain aligned to its mission to rejuvenate and future proof the industry.

Leasing Foundation chair Nathan Mollett announces wider focus

Jul 26, 2022

Nathan Mollett, chair of the Leasing Foundation, has set out a vision for the future, dubbed ‘LP 3.0’, which will see the organisation address two additional channels of activity, broaden its work in the regions, and become more active in the auto finance area. The Foundation reported its existing channels of Innovation, NextGen, and Diversity & Inclusion (D&I), have been very successful and remain aligned to its mission to rejuvenate and future proof the industry.

 

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