Why India offers a ‘blue ocean’ market for asset finance

India presents a multi-billion-dollar growth opportunity for asset finance companies as a ‘blue ocean’ market. This was the view of Simi Thapar, former head of equipment finance and leasing solutions at Tata Capital, who called for a formal association for the Indian asset financing industry to enable global participation in its growing markets. Speaking before she moved to a new role outside the business, Thapar explained: “The potential is huge. It’s a blue ocean for anyone to set up in the country.”

Why India offers a ‘blue ocean’ market for asset finance

Sep 28, 2020

India presents a multi-billion-dollar growth opportunity for asset finance companies as a ‘blue ocean’ market. This was the view of Simi Thapar, former head of equipment finance and leasing solutions at Tata Capital, who called for a formal association for the Indian asset financing industry to enable global participation in its growing markets. Speaking before she moved to a new role outside the business, Thapar explained: “The potential is huge. It’s a blue ocean for anyone to set up in the country.”

 
 
 

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Hitachi Capital mourns loss of Gavin Wraith-Carter

Hitachi Capital has announced the death of well-known industry figure Gavin Wraith-Carter, the managing director of Hitachi Capital Business Finance. In a statement the company said that the popular business leader passed away from a fatal heart attack on Thursday, September 24.

Hitachi Capital mourns loss of Gavin Wraith-Carter

Sep 29, 2020

Hitachi Capital has announced the death of well-known industry figure Gavin Wraith-Carter, the managing director of Hitachi Capital Business Finance. In a statement the company said that the popular business leader passed away from a fatal heart attack on Thursday, September 24.

Pandemic sparks efficiency surge for finance professionals, says new research by Onguard

Some 66% of financial professionals reported working more efficiently since March due to home working and the rapid digitisation that became necessary as the lockdown went on, according to new research by fintech company Onguard. The survey into the impact of the pandemic on the finance sector revealed that the pandemic was the primary factor that sparked this surge in efficiency. However, it was not the only factor. Some 71% of respondents agreed that their department was able to adjust to home working within just a few days.

Pandemic sparks efficiency surge for finance professionals, says new research by Onguard

Sep 29, 2020

Some 66% of financial professionals reported working more efficiently since March due to home working and the rapid digitisation that became necessary as the lockdown went on, according to new research by fintech company Onguard. The survey into the impact of the pandemic on the finance sector revealed that the pandemic was the primary factor that sparked this surge in efficiency. However, it was not the only factor. Some 71% of respondents agreed that their department was able to adjust to home working within just a few days.

Fleet veteran Thibault Alleyn set to spearhead new global mobility solutions firm

Independent fleet management company Fleet Logistics Group has announced the launch of a global mobility solutions unit to aid the transition to alternative transport. As many companies are rethinking mobility options such as fuel types, the role of electric vehicles, car-sharing and e-bikes, the new unit will be focused on engaging with stakeholders around the trends shaping the future of the mobility sector. Steffen Schick, chief executive officer of Fleet Logistics Group, explained: “Cost effectiveness, sustainability and transparency are approached from six key angles: strategy, technology, policy, change, procurement and process.”

Fleet veteran Thibault Alleyn set to spearhead new global mobility solutions firm

Sep 28, 2020

Independent fleet management company Fleet Logistics Group has announced the launch of a global mobility solutions unit to aid the transition to alternative transport. As many companies are rethinking mobility options such as fuel types, the role of electric vehicles, car-sharing and e-bikes, the new unit will be focused on engaging with stakeholders around the trends shaping the future of the mobility sector. Steffen Schick, chief executive officer of Fleet Logistics Group, explained: “Cost effectiveness, sustainability and transparency are approached from six key angles: strategy, technology, policy, change, procurement and process.”

 
 

Alfa whitepaper reveals how asset finance providers can kick-start machine learning projects

Specialist software and services provider Alfa has published a new whitepaper that reveals how asset finance companies can launch their own machine learning projects to enhance efficiency and customer service. The paper is the second in a series of reports on the issue and focuses on real-world examples of how to successfully introduce the technology. Called ‘Using Machine Learning in the Wild’, it provides two detailed case studies of companies that take different approaches to machine learning implementation.

Alfa whitepaper reveals how asset finance providers can kick-start machine learning projects

Sep 03, 2020

Specialist software and services provider Alfa has published a new whitepaper that reveals how asset finance companies can launch their own machine learning projects to enhance efficiency and customer service. The paper is the second in a series of reports on the issue and focuses on real-world examples of how to successfully introduce the technology. Called ‘Using Machine Learning in the Wild’, it provides two detailed case studies of companies that take different approaches to machine learning implementation.

 

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New board member and first green bonds for VW

Volkswagen has announced Klaus Zellmer as board member and placed its first green bonds with a volume of €2 billion. Formerly president and CEO of Porsche Cars North America, Zellmer is now board member for sales, marketing and after sales at VW’s passenger car brand, replacing Jürgen Stackmann who has left the group. He has worked at Porsche for the previous 23 years, holding managerial roles in Germany, France and North America.

New board member and first green bonds for VW

Sep 28, 2020

Volkswagen has announced Klaus Zellmer as board member and placed its first green bonds with a volume of €2 billion. Formerly president and CEO of Porsche Cars North America, Zellmer is now board member for sales, marketing and after sales at VW’s passenger car brand, replacing Jürgen Stackmann who has left the group. He has worked at Porsche for the previous 23 years, holding managerial roles in Germany, France and North America.

Used car specialist heycar partners with Experian to offer enhanced car finance search for online buyers

Online used car specialist heycar has partnered with global information services company Experian to help UK customers search for vehicle finance. The new service also checks whether drivers will get approved for finance, covering hire purchase and personal contract purchase, without harming their credit score.

Used car specialist heycar partners with Experian to offer enhanced car finance search for online buyers

Sep 28, 2020

Online used car specialist heycar has partnered with global information services company Experian to help UK customers search for vehicle finance. The new service also checks whether drivers will get approved for finance, covering hire purchase and personal contract purchase, without harming their credit score.

Auto and equipment finance sectors offer crucial insight in response to Chancellor’s Winter Economic Plan

‘A welcome aid to struggling businesses but we need more’, seems to be the message to government from the asset and auto finance market following the Chancellor’s announcement of the Winter Economic Plan. Taking mainstage in the plan is an extension to government support measures including CBILS and BBLS for struggling businesses, including further VAT cuts for the hospitality and retail sectors. Furthermore, a new wage subsidy facility is set to replace the existing furlough scheme which ends in October and has so far cost £39 billion, according to the Financial Times. As with the furlough scheme, the government will top up the wages of workers who can only work part-time in viable jobs.

Auto and equipment finance sectors offer crucial insight in response to Chancellor’s Winter Economic Plan

Sep 25, 2020

‘A welcome aid to struggling businesses but we need more’, seems to be the message to government from the asset and auto finance market following the Chancellor’s announcement of the Winter Economic Plan. Taking mainstage in the plan is an extension to government support measures including CBILS and BBLS for struggling businesses, including further VAT cuts for the hospitality and retail sectors. Furthermore, a new wage subsidy facility is set to replace the existing furlough scheme which ends in October and has so far cost £39 billion, according to the Financial Times. As with the furlough scheme, the government will top up the wages of workers who can only work part-time in viable jobs.

 

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Pandemic has changed fleet software interactions, says r2c

The Covid-19 pandemic has changed the way in which business use fleet and workshop software systems, according to r2c Online. The compliance and maintenance IT specialist said the number of users on its online system had increased by 37% during the pandemic, page views were up by 17% and it had seen a “significant increase” in support queries. It suggested that the UK’s furlough scheme had played a part, as many employees who did not usually interact with the systems were left to manage them in the absence of furloughed staff.

Pandemic has changed fleet software interactions, says r2c

Sep 25, 2020

The Covid-19 pandemic has changed the way in which business use fleet and workshop software systems, according to r2c Online. The compliance and maintenance IT specialist said the number of users on its online system had increased by 37% during the pandemic, page views were up by 17% and it had seen a “significant increase” in support queries. It suggested that the UK’s furlough scheme had played a part, as many employees who did not usually interact with the systems were left to manage them in the absence of furloughed staff.

New release of Alfa Systems set to improve user journey

Finance technology provider Alfa have announced the new release of its asset finance software platform, Alfa Systems, with a variety of new functions to improve the user journey. The platform offers an end-to-end solution with integrated workflow and automated processing, supporting both retail and corporate business for auto, equipment, wholesale and dealer finance on a cross-border basis including leases, loans, originations and servicing.

New release of Alfa Systems set to improve user journey

Sep 24, 2020

Finance technology provider Alfa have announced the new release of its asset finance software platform, Alfa Systems, with a variety of new functions to improve the user journey. The platform offers an end-to-end solution with integrated workflow and automated processing, supporting both retail and corporate business for auto, equipment, wholesale and dealer finance on a cross-border basis including leases, loans, originations and servicing.

EV billing start-up Mina valued at £2 million after seed funding

Electric vehicle billing specialist Mina has been valued at £2 million following seed investment. Founded in December 2019, the company specialises in grouping home and public charging costs into one invoice. Its system is able to integrate with company car drivers’ domestic charging points, energy providers and the National Grid, establish the exact cost and carbon output of the energy used to charge employees’ vehicles and reimburse them for the precise amount in the form of a credit to their personal energy bill.

EV billing start-up Mina valued at £2 million after seed funding

Sep 24, 2020

Electric vehicle billing specialist Mina has been valued at £2 million following seed investment. Founded in December 2019, the company specialises in grouping home and public charging costs into one invoice. Its system is able to integrate with company car drivers’ domestic charging points, energy providers and the National Grid, establish the exact cost and carbon output of the energy used to charge employees’ vehicles and reimburse them for the precise amount in the form of a credit to their personal energy bill.

 

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Redundant tech offers both opportunity and risk for businesses, says 3stepIT

Large quantities of corporate IT equipment now sits unused in offices across the UK as the workforce grapples with remote working, including some 34% of office desktop PCs, reveals new report from 3stepIT. The report detailed how the majority of businesses were caught off-guard in March, with 78% of UK businesses forced to invest in additional equipment to facilitate home working. Carmen Ene (pictured above), chief executive officer at 3stepIT, said: “Businesses have been forced to rapidly adapt to mobile technology, to enable remote working and future-proof their operations. Even those businesses who have been able to act nimbly, many have incurred huge costs equipping their people with new digital tools, and many more still face an uphill battle to modernise their tech.”

Redundant tech offers both opportunity and risk for businesses, says 3stepIT

Sep 23, 2020

Large quantities of corporate IT equipment now sits unused in offices across the UK as the workforce grapples with remote working, including some 34% of office desktop PCs, reveals new report from 3stepIT. The report detailed how the majority of businesses were caught off-guard in March, with 78% of UK businesses forced to invest in additional equipment to facilitate home working. Carmen Ene (pictured above), chief executive officer at 3stepIT, said: “Businesses have been forced to rapidly adapt to mobile technology, to enable remote working and future-proof their operations. Even those businesses who have been able to act nimbly, many have incurred huge costs equipping their people with new digital tools, and many more still face an uphill battle to modernise their tech.”

Enhance EFG with 80% guarantee to channel funding to businesses, warns FLA and ACCA in discussion with small business minister

The government needs to learn from existing support schemes, adapt them and re-launch the Enterprise Finance Guarantee Scheme to build on CBILS, warned the FLA at a panel discussion with small business minister, Paul Scully. Stephen Haddrill (pictured), director general of the FLA, proposed during the discussion that liquidity support be provided for non-bank lenders who played a vital part in funding UK SMEs, a point that the Minister aims to bring up with HMT.

Enhance EFG with 80% guarantee to channel funding to businesses, warns FLA and ACCA in discussion with small business minister

Sep 23, 2020

The government needs to learn from existing support schemes, adapt them and re-launch the Enterprise Finance Guarantee Scheme to build on CBILS, warned the FLA at a panel discussion with small business minister, Paul Scully. Stephen Haddrill (pictured), director general of the FLA, proposed during the discussion that liquidity support be provided for non-bank lenders who played a vital part in funding UK SMEs, a point that the Minister aims to bring up with HMT.

Huge boost to eco-friendly vehicles as pandemic fuels uptake, says Arval Mobility Observatory

Interest in eco-friendly vehicles including hybrids, battery electric vehicles and plug-in hybrids has surged ahead among UK SMEs according to the latest research from the Arval Mobility Observatory. For example, so far in 2020, 37% of companies with fewer than 100 employees either already had battery electric vehicles, or plan to adopt them within the next three years compared with just 23% in 2019. Shaun Sadlier (pictured above), head of Arval Mobility Observatory in the UK, explained: “These results show that UK SMEs are now even more motivated to adopt electric vehicles, plug-in hybrids and hybrids than they were just 12 months ago.

Huge boost to eco-friendly vehicles as pandemic fuels uptake, says Arval Mobility Observatory

Sep 21, 2020

Interest in eco-friendly vehicles including hybrids, battery electric vehicles and plug-in hybrids has surged ahead among UK SMEs according to the latest research from the Arval Mobility Observatory. For example, so far in 2020, 37% of companies with fewer than 100 employees either already had battery electric vehicles, or plan to adopt them within the next three years compared with just 23% in 2019. Shaun Sadlier (pictured above), head of Arval Mobility Observatory in the UK, explained: “These results show that UK SMEs are now even more motivated to adopt electric vehicles, plug-in hybrids and hybrids than they were just 12 months ago.

New ‘Care by Volvo’ subscription service launches in UK

Care by Volvo – the Swedish car makers’ subscription service – has launched in the UK, offering flexible access to Volvo’s entire range of models. With prices starting at £559 a month, the service is being rolled out nationwide following successful regional trials. According to Volvo Cars, this represents the most flexible service of its kind in the UK, with no sign-up fee and no fixed-term agreement.

New ‘Care by Volvo’ subscription service launches in UK

Sep 21, 2020

Care by Volvo – the Swedish car makers’ subscription service – has launched in the UK, offering flexible access to Volvo’s entire range of models. With prices starting at £559 a month, the service is being rolled out nationwide following successful regional trials. According to Volvo Cars, this represents the most flexible service of its kind in the UK, with no sign-up fee and no fixed-term agreement.

Fleet industry divided over ‘pushing on’ or ‘digging in’, says FleetCheck’s Peter Golding

As the pandemic loosens its grip the fleet sector appears divided in two schools of thought; whether to continue with strategies such as electrification and adoption of mobility solutions, or to dig in and make the most of existing resources, says FleetCheck. According to the company, while the pandemic has certainly proved a challenge for all businesses, it has succeeded in creating time for fleets to consider ideas that might once have been considered too radical to be practical. Peter Golding (pictured above), managing director of FleetCheck, explained: “There appears to be a split on whether to advance or consolidate. Some fleets are very much doubling down on their strategies for the future, especially around electrification, with some businesses looking to accelerate adoption, and push forward in areas such as EV-based salary sacrifice and handling increased amounts of grey fleet activity.

Fleet industry divided over ‘pushing on’ or ‘digging in’, says FleetCheck’s Peter Golding

Sep 18, 2020

As the pandemic loosens its grip the fleet sector appears divided in two schools of thought; whether to continue with strategies such as electrification and adoption of mobility solutions, or to dig in and make the most of existing resources, says FleetCheck. According to the company, while the pandemic has certainly proved a challenge for all businesses, it has succeeded in creating time for fleets to consider ideas that might once have been considered too radical to be practical. Peter Golding (pictured above), managing director of FleetCheck, explained: “There appears to be a split on whether to advance or consolidate. Some fleets are very much doubling down on their strategies for the future, especially around electrification, with some businesses looking to accelerate adoption, and push forward in areas such as EV-based salary sacrifice and handling increased amounts of grey fleet activity.

Pandemic reveals technology as key priority for US SMEs going forward, says new study from CIT

Middle market (MM) and small businesses (SB) based in the US are waking up to the value of technology investment, facilitating remote work and maintaining a tech-savvy workforce to make it all happen, says a new survey from CIT Group. According to the survey, some 89% of SBs and 97% of MMs remained open when the pandemic hit, albeit often in a limited capacity with reduced hours, or a reduced workforce as found by 47% of SBs and 62% of MMs. In addition, 61% of MMs in 2020 strongly agree that continuous technological investment is a business need compared to 47% in 2019. This sentiment is mirrored with SBs, where 81% agree technological investment is an ongoing business requirement.

Pandemic reveals technology as key priority for US SMEs going forward, says new study from CIT

Sep 17, 2020

Middle market (MM) and small businesses (SB) based in the US are waking up to the value of technology investment, facilitating remote work and maintaining a tech-savvy workforce to make it all happen, says a new survey from CIT Group. According to the survey, some 89% of SBs and 97% of MMs remained open when the pandemic hit, albeit often in a limited capacity with reduced hours, or a reduced workforce as found by 47% of SBs and 62% of MMs. In addition, 61% of MMs in 2020 strongly agree that continuous technological investment is a business need compared to 47% in 2019. This sentiment is mirrored with SBs, where 81% agree technological investment is an ongoing business requirement.

 

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British Business Bank boost business loans by 21% over 2020

At the end of March 2020, the British Business Bank (BBB) revealed that it had provided £8 billion...

NETSOL launches NFS Ascent for Start-ups in the UK and Europe with ‘pay as you grow’ pricing model

NETSOL Technologies, the global provider of IT solutions for the asset finance and leasing industr...

Pandemic to have long-term impact on US subprime auto market, says new report from Davis & Gilbert

With the subprime auto loan performance expected to deteriorate, many respondents to the latest Cr...

SMEs set to benefit from pay-as-you-go car and van financing from Leasys

Personal and business contract hire service provider Leasys, has unveiled a pay-as-you-go leasing ...

 

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