Alphabet enters Norwegian market in partnership with AUTO PLAN

Alphabet International is entering the Norwegian vehicle leasing market through a new partnership with AUTO PLAN. The partnership introduce Alphabet’s full range of products and services, including fuel cards, replacement vehicles, roadside assistance, and legal insurance.

Alphabet enters Norwegian market in partnership with AUTO PLAN

Nov 15, 2019

Alphabet International is entering the Norwegian vehicle leasing market through a new partnership with AUTO PLAN. The partnership introduce Alphabet’s full range of products and services, including fuel cards, replacement vehicles, roadside assistance, and legal insurance.

Simply expands team in Northern Ireland

UK-based lender Simply has appointed Sean Darcy as area sales manager for the south-west of Northern Ireland. With more than 30 years’ experience in the commercial banking and asset finance sector in Northern Ireland, Darcy started his career with NatWest Business and has also worked for First Trust Bank and most recently Close Brothers Commercial Finance.

Simply expands team in Northern Ireland

Nov 15, 2019

UK-based lender Simply has appointed Sean Darcy as area sales manager for the south-west of Northern Ireland. With more than 30 years’ experience in the commercial banking and asset finance sector in Northern Ireland, Darcy started his career with NatWest Business and has also worked for First Trust Bank and most recently Close Brothers Commercial Finance.

BBI supports PCF Bank with £15 million capital facility

British Business Investments is providing a new £15 million capital facility to specialist bank PCF Bank to increase the supply and diversity of finance for the UKs smaller businesses. The facility is part of BBI’s investment programme which has supplied more than £900 million to finance providers in the UK SME market since its launch in 2013. BBI is a subsidiary of British Business Bank, the UK government’s economic development bank, and invests mainly in smaller businesses and small mid-caps through a network of finance providers.

BBI supports PCF Bank with £15 million capital facility

Nov 15, 2019

British Business Investments is providing a new £15 million capital facility to specialist bank PCF Bank to increase the supply and diversity of finance for the UKs smaller businesses. The facility is part of BBI’s investment programme which has supplied more than £900 million to finance providers in the UK SME market since its launch in 2013. BBI is a subsidiary of British Business Bank, the UK government’s economic development bank, and invests mainly in smaller businesses and small mid-caps through a network of finance providers.

 

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The journey to pay-per-mile and beyond

Leasing companies will have to prioritise partnerships if they are to deliver the connected services that consumers will expect in future. As customer interest in servitization grows, demand for broader mobility services beyond the car will also increase, so finance providers will need to offer joined up services that support a seamless switch from one transport option to another. This means providing smartphone-based applications that offer a bundle of services through a single solution, so customers can arrange cars, parking or public transport on the same platform.

The journey to pay-per-mile and beyond

Oct 15, 2019

Leasing companies will have to prioritise partnerships if they are to deliver the connected services that consumers will expect in future. As customer interest in servitization grows, demand for broader mobility services beyond the car will also increase, so finance providers will need to offer joined up services that support a seamless switch from one transport option to another. This means providing smartphone-based applications that offer a bundle of services through a single solution, so customers can arrange cars, parking or public transport on the same platform.

 
 
 

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Call for fleets to reconsider role of SUVs amid rising emissions

In the past few years, SUV popularity has been rising, becoming a far more common sight on Europe’s streets. The global market share of new car sales taken by SUVs has risen from 17% in 2010 to 39% according to the latest manufacturer data. However, a new report from the International Energy Agency suggests that this surge in demand for SUVs – ranging from smaller lifestyle ‘soft-roaders’ to full-size 4x4s – is a major contributing factor to rising automotive CO2 emissions. The report warns that SUV demand is second only to power generation as an increasing source of CO2 emissions.

Call for fleets to reconsider role of SUVs amid rising emissions

Nov 15, 2019

In the past few years, SUV popularity has been rising, becoming a far more common sight on Europe’s streets. The global market share of new car sales taken by SUVs has risen from 17% in 2010 to 39% according to the latest manufacturer data. However, a new report from the International Energy Agency suggests that this surge in demand for SUVs – ranging from smaller lifestyle ‘soft-roaders’ to full-size 4x4s – is a major contributing factor to rising automotive CO2 emissions. The report warns that SUV demand is second only to power generation as an increasing source of CO2 emissions.

ING invests in regtech company to develop AI-driven compliance

Global bank ING is investing in US-based regulatory technology (regtech) company Ascent. The multi-million Euro investment is intended to accelerate the bank’s development of machine learning and natural language processing to manage and automate regulatory compliance. The investment, made through ING’s venture capital arm, is part of a $19.3 million Series B funding round for Ascent, which also included Wells Fargo, Alsop Louie and The University of Chicago.

ING invests in regtech company to develop AI-driven compliance

Nov 15, 2019

Global bank ING is investing in US-based regulatory technology (regtech) company Ascent. The multi-million Euro investment is intended to accelerate the bank’s development of machine learning and natural language processing to manage and automate regulatory compliance. The investment, made through ING’s venture capital arm, is part of a $19.3 million Series B funding round for Ascent, which also included Wells Fargo, Alsop Louie and The University of Chicago.

New CEO takes helm at Fair as Scott Painter steps aside

A new chief executive has been appointed at mobility app Fair after co-founder Scott Painter stepped down in the face of mounting pressures on the business. Painter recently announced plans to cut up to 40% of the workforce as the disruptive start-up tries to generate profits following a series of investment rounds that raised hundreds of millions of dollars. In addition to expanding its core app-based business, Fair also bought the assets of Ford Motor Credit’s subscription service Canvas in September and Uber’s Xchange leasing portfolio in January 2018.

New CEO takes helm at Fair as Scott Painter steps aside

Nov 13, 2019

A new chief executive has been appointed at mobility app Fair after co-founder Scott Painter stepped down in the face of mounting pressures on the business. Painter recently announced plans to cut up to 40% of the workforce as the disruptive start-up tries to generate profits following a series of investment rounds that raised hundreds of millions of dollars. In addition to expanding its core app-based business, Fair also bought the assets of Ford Motor Credit’s subscription service Canvas in September and Uber’s Xchange leasing portfolio in January 2018.

 

New position paper suggests AI offers both risks and rewards for asset finance

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

New position paper suggests AI offers both risks and rewards for asset finance

Oct 09, 2019

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

 
 
 
 

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Consumers cool on self-driving and EVs

Despite auto manufacturers investing billions to bring self-driving vehicles to market and increase choice in battery-electric vehicles, many consumers still lack confidence in the technologies, according to research by J.D. Power. The consultancy is tracking progress in both areas via a quarterly mobility confidence index.

Consumers cool on self-driving and EVs

Nov 13, 2019

Despite auto manufacturers investing billions to bring self-driving vehicles to market and increase choice in battery-electric vehicles, many consumers still lack confidence in the technologies, according to research by J.D. Power. The consultancy is tracking progress in both areas via a quarterly mobility confidence index.

Hampshire Trust Bank invests in Alfa Systems to deliver digital strategy

Hampshire Trust Bank’s specialist business finance division has invested in Alfa Systems, the leading asset finance software provided by Alfa. The investment in Alfa’s cloud-based platform will be integral to Hampshire Trust Bank’s digital strategy to deploy ‘best in breed’ software and services, bank executives say. The asset finance specific leasing administration system streamlines operations through automation and enables both high-volume transactions and complex leases.

Hampshire Trust Bank invests in Alfa Systems to deliver digital strategy

Nov 13, 2019

Hampshire Trust Bank’s specialist business finance division has invested in Alfa Systems, the leading asset finance software provided by Alfa. The investment in Alfa’s cloud-based platform will be integral to Hampshire Trust Bank’s digital strategy to deploy ‘best in breed’ software and services, bank executives say. The asset finance specific leasing administration system streamlines operations through automation and enables both high-volume transactions and complex leases.

Give drivers more control over their own connected car data

As the EU’s General Data Protection Regulation (GDPR) becomes part and parcel of everyday life, it feels as though cars are set to be next battleground in the debate on the collection and use of personal data, argues Michel Alsemgeest, chief digital officer of LeasePlan.

Give drivers more control over their own connected car data

Nov 08, 2019

As the EU’s General Data Protection Regulation (GDPR) becomes part and parcel of everyday life, it feels as though cars are set to be next battleground in the debate on the collection and use of personal data, argues Michel Alsemgeest, chief digital officer of LeasePlan.

 

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Bibby Financial Services appoints head of business centre for trade finance

Global SME finance provider Bibby Financial Services (BFS) has appointed Karl Leitelmayer as its head of business centre for trade finance in the UK. He joins BFS after 19 years at Lloyds Banking Group, most recently as head of broker channel sales - invoice finance, where he was instrumental in the redesign and launch of Lloyds’ broker offering to the invoice finance market.

Bibby Financial Services appoints head of business centre for trade finance

Nov 08, 2019

Global SME finance provider Bibby Financial Services (BFS) has appointed Karl Leitelmayer as its head of business centre for trade finance in the UK. He joins BFS after 19 years at Lloyds Banking Group, most recently as head of broker channel sales - invoice finance, where he was instrumental in the redesign and launch of Lloyds’ broker offering to the invoice finance market.

Aldermore launches new online broker portal

This year’s IAFN European SME Finance Provider of the Year, Aldermore, has launched an online portal to simplify transactions between small businesses and their funding providers. Called Asset Backer, the new platform lets brokers manage their portfolio in one place, calculate and deliver quotes, submit new business proposals, generate documentation and electronically sign agreement documents. New proposals are sent directly to Aldermore’s credit underwriters for review and progress can be tracked in real-time, through desktop or mobile device.

Aldermore launches new online broker portal

Nov 08, 2019

This year’s IAFN European SME Finance Provider of the Year, Aldermore, has launched an online portal to simplify transactions between small businesses and their funding providers. Called Asset Backer, the new platform lets brokers manage their portfolio in one place, calculate and deliver quotes, submit new business proposals, generate documentation and electronically sign agreement documents. New proposals are sent directly to Aldermore’s credit underwriters for review and progress can be tracked in real-time, through desktop or mobile device.

Invigors EMEA bolsters asset finance team with appointment of Nick Feasey

The former director of funding and strategy at Lenovo Financial Services, Nick Feasey, has joined consulting and services company Invigors EMEA to strengthen its operations in Europe. Feasey (pictured) has more than 20 years’ experience in the technology asset finance sector and during his time at Lenovo he was responsible for establishing ‘data-as-a-service’ (DaaS) and on-demand financing capabilities. Prior to this, he spent more than 10 years with equipment lessor CIT in various roles, which included growing the Dell Financial Services program in EMEA and APAC regions.

Invigors EMEA bolsters asset finance team with appointment of Nick Feasey

Nov 07, 2019

The former director of funding and strategy at Lenovo Financial Services, Nick Feasey, has joined consulting and services company Invigors EMEA to strengthen its operations in Europe. Feasey (pictured) has more than 20 years’ experience in the technology asset finance sector and during his time at Lenovo he was responsible for establishing ‘data-as-a-service’ (DaaS) and on-demand financing capabilities. Prior to this, he spent more than 10 years with equipment lessor CIT in various roles, which included growing the Dell Financial Services program in EMEA and APAC regions.

Average value of UK new car finance reaches record high

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

Average value of UK new car finance reaches record high

Nov 06, 2019

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

UK asset finance market posts strong Q3 results as businesses stockpile in anticipation of Brexit

Asset finance new business (primarily leasing and hire purchase) grew 5% during Q3 2019 compared to the same period last year, according to figures from the Finance & Leasing Association (FLA). The association also reported 5% year-on-year growth during September. The strongest September growth came from finance for plant and machinery and business cars, while aircraft, ships and rolling stock finance leapt 78%, but from a relatively low base.

UK asset finance market posts strong Q3 results as businesses stockpile in anticipation of Brexit

Nov 06, 2019

Asset finance new business (primarily leasing and hire purchase) grew 5% during Q3 2019 compared to the same period last year, according to figures from the Finance & Leasing Association (FLA). The association also reported 5% year-on-year growth during September. The strongest September growth came from finance for plant and machinery and business cars, while aircraft, ships and rolling stock finance leapt 78%, but from a relatively low base.

Unicorns of asset finance balance high growth and low cost of risk

Making a substantial impact on the UK business leasing market isn’t easy. A quick review of the Asset Finance 50, the ranking survey of lessors published by Asset Finance International and Asset Finance Policy, shows: None of the top 30 companies were established less than 10 years ago (disregarding changes in ownership). Looking at companies established in the past 10 years, all sit in positions from 31 to 50 of the rankings. In the last reported financial year, as many lost volume as gained it (in a few cases, reflecting the selling down of portfolios rather than new business levels). Some of the fastest growing companies have reported substantial write-offs and provisions in the past three years. There are a few exceptions - the ‘unicorns' of asset finance. These are companies that are climbing up the Asset Finance 50 without displaying higher than average cost of risk, to date at least. These firms are demonstrating an impressive ability to manage the sometimes conflicting targets of fast growth and low cost of risk.

Unicorns of asset finance balance high growth and low cost of risk

Nov 06, 2019

Making a substantial impact on the UK business leasing market isn’t easy. A quick review of the Asset Finance 50, the ranking survey of lessors published by Asset Finance International and Asset Finance Policy, shows: None of the top 30 companies were established less than 10 years ago (disregarding changes in ownership). Looking at companies established in the past 10 years, all sit in positions from 31 to 50 of the rankings. In the last reported financial year, as many lost volume as gained it (in a few cases, reflecting the selling down of portfolios rather than new business levels). Some of the fastest growing companies have reported substantial write-offs and provisions in the past three years. There are a few exceptions - the ‘unicorns' of asset finance. These are companies that are climbing up the Asset Finance 50 without displaying higher than average cost of risk, to date at least. These firms are demonstrating an impressive ability to manage the sometimes conflicting targets of fast growth and low cost of risk.

 

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In-car connectivity powers new financial ecosystem

The rise of the connected car has opened new horizons for the finance industry; cars can be turned...

MarketInvoice turns its attention to larger businesses

Having already provided a significant amount in invoice finance and business loans to a wealth of ...

 

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