Kim Brien joins Hitachi Capital (UK) as new chief information officer

Hitachi Capital (UK) has appointed Kim Brien as chief information officer to drive forward digital development at the leading financial services provider. Brien brings more than 20 years’ experience in IT to the AF50 UK top-10 company and has joined from global research and advisory company Gartner, having previously held senior positions at HML, MDA and Armature. As CIO, Brien (pictured) will oversee IT strategy and play a key role in using data from across the group to drive informed decisions and improve customer experiences.

Kim Brien joins Hitachi Capital (UK) as new chief information officer

Jan 20, 2020

Hitachi Capital (UK) has appointed Kim Brien as chief information officer to drive forward digital development at the leading financial services provider. Brien brings more than 20 years’ experience in IT to the AF50 UK top-10 company and has joined from global research and advisory company Gartner, having previously held senior positions at HML, MDA and Armature. As CIO, Brien (pictured) will oversee IT strategy and play a key role in using data from across the group to drive informed decisions and improve customer experiences.

US equipment finance market outlook positive

The early 2020 outlook for the US equipment leasing market is upbeat, according to data from the Equipment Leasing and Finance Foundation, which says business confidence is on the rise for the third month in a row. The Foundation’s January monthly confidence index for the equipment finance industry (MCI-EFI) hit 59.9, an increase from the December index of 56.2. When asked about the outlook for the future, MCI-EFI survey respondent David Normandin, president and chief executive officer of Wintrust Specialty Finance said: “Demand for leasing in the segments we are involved in has remained strong with huge demand in Q4 2019. Credit quality has remained solid, and pull through has been good. Unemployment remains low and we see small business customers remaining optimistic.”

US equipment finance market outlook positive

Jan 20, 2020

The early 2020 outlook for the US equipment leasing market is upbeat, according to data from the Equipment Leasing and Finance Foundation, which says business confidence is on the rise for the third month in a row. The Foundation’s January monthly confidence index for the equipment finance industry (MCI-EFI) hit 59.9, an increase from the December index of 56.2. When asked about the outlook for the future, MCI-EFI survey respondent David Normandin, president and chief executive officer of Wintrust Specialty Finance said: “Demand for leasing in the segments we are involved in has remained strong with huge demand in Q4 2019. Credit quality has remained solid, and pull through has been good. Unemployment remains low and we see small business customers remaining optimistic.”

Demand for used vehicle finance increases

Used vehicles are grabbing a larger share of the US automotive finance market, according to data from Experian, which says the trend is driven by a number of factors, including more prime customers choosing used vehicles and the increased availability of late-model vehicles. The consultancy’s Q3 2019 State of the Automotive Finance Market report found used financing increased 2.4% year-over-year, reaching 55.15% in Q3 2019, compared to 53.86% in Q3 2018. Used leasing saw a slight increase from 3.88% in Q3 2018 to 4.07% in Q3 2019.

Demand for used vehicle finance increases

Jan 20, 2020

Used vehicles are grabbing a larger share of the US automotive finance market, according to data from Experian, which says the trend is driven by a number of factors, including more prime customers choosing used vehicles and the increased availability of late-model vehicles. The consultancy’s Q3 2019 State of the Automotive Finance Market report found used financing increased 2.4% year-over-year, reaching 55.15% in Q3 2019, compared to 53.86% in Q3 2018. Used leasing saw a slight increase from 3.88% in Q3 2018 to 4.07% in Q3 2019.

 

How Mobility-as-a-Service will transform fleet finance

New mobility models could transform fleet finance as a growing number of consumers adopt vehicle subscription services to pay for transport on demand. There will be a significant shift from private vehicle finance to corporate-funded fleets as drivers opt for bundled services, where they can receive all their motoring needs through a single service provider and payment plan. Demand for leasing or subscription will be accelerated by electric vehicles, as consumers opt for the protection of hiring vehicles rather than owning them as they test out new technology.

How Mobility-as-a-Service will transform fleet finance

Jan 07, 2020

New mobility models could transform fleet finance as a growing number of consumers adopt vehicle subscription services to pay for transport on demand. There will be a significant shift from private vehicle finance to corporate-funded fleets as drivers opt for bundled services, where they can receive all their motoring needs through a single service provider and payment plan. Demand for leasing or subscription will be accelerated by electric vehicles, as consumers opt for the protection of hiring vehicles rather than owning them as they test out new technology.

 
 
 

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Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

Dec 18, 2019

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

 
 

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Ally Financial recruits digital leader

Ally Financial has announced that Sathish Muthukrishnan has joined the company as chief information, data and digital officer, to lead its technology, data and digital transformation teams, with a focus on advanced technical capabilities including cyber security. Muthukrishnan has held a number of senior technology leadership roles, most recently as the chief digital and information officer for Honeywell Aerospace. Before that, he spent 10 years at American Express leading their digital transformation efforts.

Ally Financial recruits digital leader

Jan 20, 2020

Ally Financial has announced that Sathish Muthukrishnan has joined the company as chief information, data and digital officer, to lead its technology, data and digital transformation teams, with a focus on advanced technical capabilities including cyber security. Muthukrishnan has held a number of senior technology leadership roles, most recently as the chief digital and information officer for Honeywell Aerospace. Before that, he spent 10 years at American Express leading their digital transformation efforts.

Matt Rasul joins RedRidge Diligence Services as national director

Chicago-based financial diligence provider RedRidge Diligence Services has appointed Matt Rasul as national director, talent acquisition and employee relations. From his Dallas base, he will drive the company’s employment strategy and manage international employee relations.

Matt Rasul joins RedRidge Diligence Services as national director

Jan 17, 2020

Chicago-based financial diligence provider RedRidge Diligence Services has appointed Matt Rasul as national director, talent acquisition and employee relations. From his Dallas base, he will drive the company’s employment strategy and manage international employee relations.

FleetCor vows to “vigorously defend” itself against FTC plans for legal action

The US Federal Trade Commission (FTC) has indicated it plans to take legal action against fuel card services giant FleetCor alleging that it has charged customers at least hundreds of millions of dollars in hidden fees after making false promises about helping customers save on fuel costs. Headquartered in Atlanta, Georgia, FleetCor reported $2.4 billion in annual revenues in 2018. It markets its fuel card services in the US under its own ‘Fuelman’ brand name, as well as through co-branded cards, to businesses around the country.

FleetCor vows to “vigorously defend” itself against FTC plans for legal action

Jan 20, 2020

The US Federal Trade Commission (FTC) has indicated it plans to take legal action against fuel card services giant FleetCor alleging that it has charged customers at least hundreds of millions of dollars in hidden fees after making false promises about helping customers save on fuel costs. Headquartered in Atlanta, Georgia, FleetCor reported $2.4 billion in annual revenues in 2018. It markets its fuel card services in the US under its own ‘Fuelman’ brand name, as well as through co-branded cards, to businesses around the country.

 

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BVRLA enhances senior management team

The British Vehicle Rental and Leasing Association (BVRLA) has appointed two of its senior employees to new director-level roles. Toby Poston, formerly the director of communications and external relations for the BVRLA, has been promoted to director of corporate affairs.

BVRLA enhances senior management team

Jan 16, 2020

The British Vehicle Rental and Leasing Association (BVRLA) has appointed two of its senior employees to new director-level roles. Toby Poston, formerly the director of communications and external relations for the BVRLA, has been promoted to director of corporate affairs.

Silicon Valley Bank bolsters speciality finance team

Silicon Valley Bank (SVB) has chosen Emily Barron, former head of finance at Branch International, and Brian Foley, former managing director at Macquarie Group, to co-lead its warehouse credit solutions across the US. The company has also made appointments in the UK, with Folake Shasanya, former head of acquisition financing at RBS, now leading its warehouse credit solutions in the UK and EMEA.

Silicon Valley Bank bolsters speciality finance team

Jan 16, 2020

Silicon Valley Bank (SVB) has chosen Emily Barron, former head of finance at Branch International, and Brian Foley, former managing director at Macquarie Group, to co-lead its warehouse credit solutions across the US. The company has also made appointments in the UK, with Folake Shasanya, former head of acquisition financing at RBS, now leading its warehouse credit solutions in the UK and EMEA.

The complex future of the car leasing market

As car leasing companies embed telematics to improve cost efficiencies and markets remain healthy, the future for the industry looks positive. But is all as it seems? Martin Morris reports.

The complex future of the car leasing market

Jan 16, 2020

As car leasing companies embed telematics to improve cost efficiencies and markets remain healthy, the future for the industry looks positive. But is all as it seems? Martin Morris reports.

 

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Simply forms dedicated manufacturing team

SME funder Simply has formed a dedicated manufacturing unit to drive growth and better support existing customers. It will be spearheaded by Matt Graham (pictured left) and Liam Ryan (right), who join as national sales managers. Graham and Ryan have previously worked with Close Brothers Asset Finance, specialising in the support of manufacturing and engineering companies.

Simply forms dedicated manufacturing team

Jan 16, 2020

SME funder Simply has formed a dedicated manufacturing unit to drive growth and better support existing customers. It will be spearheaded by Matt Graham (pictured left) and Liam Ryan (right), who join as national sales managers. Graham and Ryan have previously worked with Close Brothers Asset Finance, specialising in the support of manufacturing and engineering companies.

Companies in the finance industry invited to support major research project into servitization

A major new research project will take a detailed look at how the sale of services linked to asset-backed financing can offer a compelling opportunity for auto and equipment finance companies so they can develop new income streams and profit growth. The servitization research project, developed by the International Asset Finance Network, in partnership with GrowCap, will look at how technology can increase customer satisfaction and encourage retention, while also building a competitive advantage over other more traditional finance organizations. It is looking for finance company partners to support the project. Participants will be able to use the results to develop their future business strategy.

Companies in the finance industry invited to support major research project into servitization

Jan 15, 2020

A major new research project will take a detailed look at how the sale of services linked to asset-backed financing can offer a compelling opportunity for auto and equipment finance companies so they can develop new income streams and profit growth. The servitization research project, developed by the International Asset Finance Network, in partnership with GrowCap, will look at how technology can increase customer satisfaction and encourage retention, while also building a competitive advantage over other more traditional finance organizations. It is looking for finance company partners to support the project. Participants will be able to use the results to develop their future business strategy.

Innovation Finance rolls out QuickFi mobile-first equipment finance solution to global acclaim

An industry-first smartphone-based equipment finance solution that can initiate and complete loans of up to $5 million in minutes has been launched. QuickFi has been developed by US-based Innovation Finance, which was started by chief executive officer Bill Verhelle, the former CEO and co-founder of First American Equipment Finance and a former chairman of the Equipment Leasing and Finance Association. Its digital-first approach led to QuickFi receiving the FinTech Innovator of the Year Award at the International Asset Finance Network awards ceremony in London in December 2019 and also receiving the PowerUP London Changemaker of the Year trophy.

Innovation Finance rolls out QuickFi mobile-first equipment finance solution to global acclaim

Jan 13, 2020

An industry-first smartphone-based equipment finance solution that can initiate and complete loans of up to $5 million in minutes has been launched. QuickFi has been developed by US-based Innovation Finance, which was started by chief executive officer Bill Verhelle, the former CEO and co-founder of First American Equipment Finance and a former chairman of the Equipment Leasing and Finance Association. Its digital-first approach led to QuickFi receiving the FinTech Innovator of the Year Award at the International Asset Finance Network awards ceremony in London in December 2019 and also receiving the PowerUP London Changemaker of the Year trophy.

Ultimate Finance sets annual lending record

Specialist asset-based lender Ultimate Finance broke its annual lending record last year, providing funds of more than £1.6 billion to SMEs in the UK. The company’s loan book also reached a record £265 million during 2019, while clients also increased. Other highlights included asset finance, where the loan book reached a record of £55 million.

Ultimate Finance sets annual lending record

Jan 14, 2020

Specialist asset-based lender Ultimate Finance broke its annual lending record last year, providing funds of more than £1.6 billion to SMEs in the UK. The company’s loan book also reached a record £265 million during 2019, while clients also increased. Other highlights included asset finance, where the loan book reached a record of £55 million.

IGF appoints Matt Shepherd as commercial director

Finance provider Independent Growth Finance (IGF) has appointed Matt Shepherd as commercial director. Shepherd will be responsible for expanding IGF’s customer base and increasing sales. IGF has operated in the UK since 1997 and is aiming to increasing its share of the UK SME market.

IGF appoints Matt Shepherd as commercial director

Jan 14, 2020

Finance provider Independent Growth Finance (IGF) has appointed Matt Shepherd as commercial director. Shepherd will be responsible for expanding IGF’s customer base and increasing sales. IGF has operated in the UK since 1997 and is aiming to increasing its share of the UK SME market.

How will fintechs fair in 2020?

The fintech sector will see new developments in regulatory technology (regtech) during 2020 as disruptive technologies continue to change the market, according to industry experts. In addition to developments in regtech, there will be improved payment options and enhanced customer service, according to Anton Zujev, head of business development at Fininbox. He said: “AI will be crucial for more convenient customer service and operation tracking. Blockchain is becoming relevant because of its wide appliance in various fintech areas, such as data protection, cybersecurity, trade finance.”

How will fintechs fair in 2020?

Jan 14, 2020

The fintech sector will see new developments in regulatory technology (regtech) during 2020 as disruptive technologies continue to change the market, according to industry experts. In addition to developments in regtech, there will be improved payment options and enhanced customer service, according to Anton Zujev, head of business development at Fininbox. He said: “AI will be crucial for more convenient customer service and operation tracking. Blockchain is becoming relevant because of its wide appliance in various fintech areas, such as data protection, cybersecurity, trade finance.”

 

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Finance industry warned to take action after Travelex cyber attack

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Why companies need to embrace digital transformation to drive competitive advantage

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GForces partners with Stripe to drive online car sales

Automotive ecommerce solutions provider GForces is partnering with online payments platform Stripe...

Jim Davis appointed managing director for construction finance at Bibby Financial Services

Bibby Financial Services has appointed Jim Davis as managing director for construction finance. H...

 

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