Asset Finance Solutions’ new Finance Broker Academy primed to tackle broker succession crisis

Asset Finance Solutions (AFS) is set to launch a bespoke training and mentoring scheme to encourage an influx of younger professionals into the broker industry as the sector continues to face the growing broker succession crisis. Aptly named The Finance Broker Academy, the scheme will offer structured support and training programmes comprising several overarching topics and a mixture of learning interventions to provide members with everything they need to become the next generation of finance brokers.

Asset Finance Solutions’ new Finance Broker Academy primed to tackle broker succession crisis

Oct 29, 2020

Asset Finance Solutions (AFS) is set to launch a bespoke training and mentoring scheme to encourage an influx of younger professionals into the broker industry as the sector continues to face the growing broker succession crisis. Aptly named The Finance Broker Academy, the scheme will offer structured support and training programmes comprising several overarching topics and a mixture of learning interventions to provide members with everything they need to become the next generation of finance brokers.

Well Remembered: Gavin Wraith-Carter 1966 – 2020

Asset Finance International, like the entire asset finance industry, was shocked to hear of the sudden death of Gavin Wraith-Carter, managing director of Hitachi Capital Business Finance (HCBF), on 24 September. The immense quantity of condolences and appreciative comments entered upon the Kudoboard online record of appreciation set up by Hitachi Capital bears telling testimony to the outstanding popularity of the man. For Gavin made friends across the breadth of the asset finance industry ranging from past to present fellow-workers and even including competitors.

Well Remembered: Gavin Wraith-Carter 1966 – 2020

Oct 28, 2020

Asset Finance International, like the entire asset finance industry, was shocked to hear of the sudden death of Gavin Wraith-Carter, managing director of Hitachi Capital Business Finance (HCBF), on 24 September. The immense quantity of condolences and appreciative comments entered upon the Kudoboard online record of appreciation set up by Hitachi Capital bears telling testimony to the outstanding popularity of the man. For Gavin made friends across the breadth of the asset finance industry ranging from past to present fellow-workers and even including competitors.

Arval sets out new 2025 business plan

Arval sets out new 2025 business planrval has announced a new business plan known as Arval Beyond, which will see the company target two million leased vehicles by 2025, 500,000 of which it hopes will be electric. The initiative also involves a planned 30% reduction in CO2 emissions from 2020 levels, maintaining its status as a carbon-neutral company, a 10% reduction in its overall accident rate, adopting broader mobility services and establishing more corporate partnerships.

Arval sets out new 2025 business plan

Oct 28, 2020

Arval sets out new 2025 business planrval has announced a new business plan known as Arval Beyond, which will see the company target two million leased vehicles by 2025, 500,000 of which it hopes will be electric. The initiative also involves a planned 30% reduction in CO2 emissions from 2020 levels, maintaining its status as a carbon-neutral company, a 10% reduction in its overall accident rate, adopting broader mobility services and establishing more corporate partnerships.

 

Technology and talent: the keys to the future of asset finance

Technology and talented employees will be essential elements in driving future asset finance growth within a more complex business environment, according to a panel of industry chief executives and leaders. Although digitalisation has the potential to transform business processes and speed up customer service, they agreed that asset finance “will always be a people business”. Mark Picken, CEO at Shire Leasing, said: “Technology is a huge enabler. It is expensive, but it is essential. I believe that this will always be a people business and people will buy from people; they just need the process when they are not interacting with a person to be much slicker and technology-led.”

Technology and talent: the keys to the future of asset finance

Oct 12, 2020

Technology and talented employees will be essential elements in driving future asset finance growth within a more complex business environment, according to a panel of industry chief executives and leaders. Although digitalisation has the potential to transform business processes and speed up customer service, they agreed that asset finance “will always be a people business”. Mark Picken, CEO at Shire Leasing, said: “Technology is a huge enabler. It is expensive, but it is essential. I believe that this will always be a people business and people will buy from people; they just need the process when they are not interacting with a person to be much slicker and technology-led.”

 
 
 

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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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Leaseurope reveals new business down 30% in Q2 2020

New leasing business shrank by almost 30% year-on-year to €20.6 billion in the second quarter of 2020, according to Leaseurope’s latest index. The organisation, which tracks the results of 23 European lessors on a quarterly basis, said most companies’ KPIs “considerably deteriorated” with the exception of median cost/income ratio, which rose by 1.3% to 45.3% as a result of lower operating expenses.

Leaseurope reveals new business down 30% in Q2 2020

Oct 26, 2020

New leasing business shrank by almost 30% year-on-year to €20.6 billion in the second quarter of 2020, according to Leaseurope’s latest index. The organisation, which tracks the results of 23 European lessors on a quarterly basis, said most companies’ KPIs “considerably deteriorated” with the exception of median cost/income ratio, which rose by 1.3% to 45.3% as a result of lower operating expenses.

British SMEs fear second-wave over Brexit, reveals Nucleus Commercial Finance

Some 48% of British SMEs fear the impact of a second wave of the pandemic more than the impact of Brexit, says Nucleus Commercial Finance in latest research. During the height of ‘Brexit-fever’, many businesses expressed great concern over how the uncertain future of the country would impact them. However, fast-forwarding just a short while to today and only 24% of British SMEs fear the impact of Brexit the most.

British SMEs fear second-wave over Brexit, reveals Nucleus Commercial Finance

Oct 26, 2020

Some 48% of British SMEs fear the impact of a second wave of the pandemic more than the impact of Brexit, says Nucleus Commercial Finance in latest research. During the height of ‘Brexit-fever’, many businesses expressed great concern over how the uncertain future of the country would impact them. However, fast-forwarding just a short while to today and only 24% of British SMEs fear the impact of Brexit the most.

Ebbon Group set to develop new fleet products with innovation think tank

The fleet sector has recently been joined by a new think tank and product incubator named Ebbon Innovation (EI) with the aim of developing innovative new products and solutions to tackle issues facing the fleet community. EI is set to be focused on conducting research, experimentation and innovation in the fleet market, seeking to address the next real-world problems and turn them into open-market solutions.

Ebbon Group set to develop new fleet products with innovation think tank

Oct 27, 2020

The fleet sector has recently been joined by a new think tank and product incubator named Ebbon Innovation (EI) with the aim of developing innovative new products and solutions to tackle issues facing the fleet community. EI is set to be focused on conducting research, experimentation and innovation in the fleet market, seeking to address the next real-world problems and turn them into open-market solutions.

 

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NETSOL deploys NFS Ascent® Retail Platform for major global auto captive in China

Global asset finance and leasing IT solutions provider NETSOL Technologies, has announced the successful implementation of its NFS Ascent® retail platform with a tier-one German auto captive finance company in China. According to NETSOL, the customer has a strong presence in China and the rest of the APAC region and the deployment marks the second phase of a $30 million (£23 million) contract.

NETSOL deploys NFS Ascent® Retail Platform for major global auto captive in China

Oct 26, 2020

Global asset finance and leasing IT solutions provider NETSOL Technologies, has announced the successful implementation of its NFS Ascent® retail platform with a tier-one German auto captive finance company in China. According to NETSOL, the customer has a strong presence in China and the rest of the APAC region and the deployment marks the second phase of a $30 million (£23 million) contract.

Europcar Mobility Group launches medium-term lease for brokers

Europcar Mobility Group has launched a medium-term lease product known as Flex+ for Business in the UK. Available to broker members of the Leasing Broker Federation, it offers new vehicles on three-month-plus contracts including maintenance at a fixed rate and is designed for fleets keen to avoid long-term commitments, as the company claimed there were “no long-term contracts to sign”. Vehicles are available with four mileage options of between 1,000 to 2,800 miles per 28 days.

Europcar Mobility Group launches medium-term lease for brokers

Oct 23, 2020

Europcar Mobility Group has launched a medium-term lease product known as Flex+ for Business in the UK. Available to broker members of the Leasing Broker Federation, it offers new vehicles on three-month-plus contracts including maintenance at a fixed rate and is designed for fleets keen to avoid long-term commitments, as the company claimed there were “no long-term contracts to sign”. Vehicles are available with four mileage options of between 1,000 to 2,800 miles per 28 days.

Demand doubles for low deposit lease deals, according to Leasing.com

Consumers looking to buy new cars are reluctant to spend large sums of money and are opting for lease deals with lower initial payments as a result of the pandemic, reveals new research from leasing comparison site, Leasing.com. According to the research, enquiries on two-year lease deals with a one-month initial payment are up 98% year on year during the period between 23 March and 23 September 2020. In comparison, three-year deal enquiries are up 80%, and four-year deal enquiries are up 114% over last year’s figures.

Demand doubles for low deposit lease deals, according to Leasing.com

Oct 23, 2020

Consumers looking to buy new cars are reluctant to spend large sums of money and are opting for lease deals with lower initial payments as a result of the pandemic, reveals new research from leasing comparison site, Leasing.com. According to the research, enquiries on two-year lease deals with a one-month initial payment are up 98% year on year during the period between 23 March and 23 September 2020. In comparison, three-year deal enquiries are up 80%, and four-year deal enquiries are up 114% over last year’s figures.

 

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Alphera boasts 75% surge in digital car finance customers

According to Alphera Financial Services, some 75% more customers have begun using its online platform to sign and manage their motor finance agreements online in 2020, as the pandemic has incentivised digitalisation trends. With more than a quarter of the company’s UK customers currently managing their finance agreements online, there has also been a 67% monthly increase in the number of applications completed using its e-Retail platform since March.

Alphera boasts 75% surge in digital car finance customers

Oct 21, 2020

According to Alphera Financial Services, some 75% more customers have begun using its online platform to sign and manage their motor finance agreements online in 2020, as the pandemic has incentivised digitalisation trends. With more than a quarter of the company’s UK customers currently managing their finance agreements online, there has also been a 67% monthly increase in the number of applications completed using its e-Retail platform since March.

Metro Bank appoints new asset finance director, as Nathan Mollett leaves for United Trust Bank

Metro Bank has announced that Nova Everidge (pictured above) is set to be appointed as the new director of asset finance, replacing Nathan Mollett. Previously the head of operations and sales support for the Bank’s asset finance team, Everidge joined the company in 2016 reporting directly to Mollett. Having been part of the asset finance division for more than four years already, Everidge is set to continue to grow the function in her new role. Everidge began her career at GE Capital European Equipment Finance, from 1993-2000, as the new business manager Scottish & Broker where she was primarily responsible for proposal management, sales support and back office processing.

Metro Bank appoints new asset finance director, as Nathan Mollett leaves for United Trust Bank

Oct 20, 2020

Metro Bank has announced that Nova Everidge (pictured above) is set to be appointed as the new director of asset finance, replacing Nathan Mollett. Previously the head of operations and sales support for the Bank’s asset finance team, Everidge joined the company in 2016 reporting directly to Mollett. Having been part of the asset finance division for more than four years already, Everidge is set to continue to grow the function in her new role. Everidge began her career at GE Capital European Equipment Finance, from 1993-2000, as the new business manager Scottish & Broker where she was primarily responsible for proposal management, sales support and back office processing.

Global consultancy EY reveals how your customer base has been changed by the COVID-19 pandemic

Experts from global consultancy EY will reveal at an exclusive online seminar this week how the finance industry must adapt in response to changing customer behaviour caused by the pandemic. The event, called Next is Now, will detail why financial service businesses are struggling to respond effectively to the rapid pace of change within their customer base and identify strategies to adapt more quickly. Experts will also explain how behavioural science can play a key role in creating new strategies that could be implemented by asset finance companies.

Global consultancy EY reveals how your customer base has been changed by the COVID-19 pandemic

Oct 20, 2020

Experts from global consultancy EY will reveal at an exclusive online seminar this week how the finance industry must adapt in response to changing customer behaviour caused by the pandemic. The event, called Next is Now, will detail why financial service businesses are struggling to respond effectively to the rapid pace of change within their customer base and identify strategies to adapt more quickly. Experts will also explain how behavioural science can play a key role in creating new strategies that could be implemented by asset finance companies.

DF Capital primed to aid in liquidity crisis as it hits major milestone with new banking licence

Following the resubmission of its banking licence application last year, Distribution Finance Capital (DF Capital) has received confirmation from the PRA and FCA that it has been authorised as a bank. This news represents a significant milestone for the company as it raises them to the next level when it comes to their ability to raise funds and to lend. Also, the arrival of another lender with significant funds to place is certain to aid in the response to the numerous liquidity issues facing the industry in the wake of the pandemic.

DF Capital primed to aid in liquidity crisis as it hits major milestone with new banking licence

Oct 14, 2020

Following the resubmission of its banking licence application last year, Distribution Finance Capital (DF Capital) has received confirmation from the PRA and FCA that it has been authorised as a bank. This news represents a significant milestone for the company as it raises them to the next level when it comes to their ability to raise funds and to lend. Also, the arrival of another lender with significant funds to place is certain to aid in the response to the numerous liquidity issues facing the industry in the wake of the pandemic.

UK hits record low new car registrations in September

New car registrations in September fell by 4.4% compared to the same month in 2019 with only 328,041 passenger cars hitting the roads, marking the worst September for new car registrations since the UK adopted a two-plate system in 1999, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The reduced number of passenger car registrations stood against hopes that buyers were waiting for the country’s September plate-change to release further pent-up demand caused by the pandemic. The SMMT’s figures show a decline of 15.8% on the 10-year September average, and a 33.2% fall in UK registrations this year-to-date, equalling a 615,000-unit shortfall.

UK hits record low new car registrations in September

Oct 15, 2020

New car registrations in September fell by 4.4% compared to the same month in 2019 with only 328,041 passenger cars hitting the roads, marking the worst September for new car registrations since the UK adopted a two-plate system in 1999, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The reduced number of passenger car registrations stood against hopes that buyers were waiting for the country’s September plate-change to release further pent-up demand caused by the pandemic. The SMMT’s figures show a decline of 15.8% on the 10-year September average, and a 33.2% fall in UK registrations this year-to-date, equalling a 615,000-unit shortfall.

Multi-bid vehicle funding clear winner, says fleet veteran Keith Allen

CBVC Vehicle Management recently announced the release of a whitepaper discussing the various methods of procuring business contract hire funding for vehicles, and the benefits and drawbacks of each method. Entitled ‘The Benefits of Multi-Bid Vehicle Funding’, the paper concluded that the multi-bid acquisition method is the clear winner in terms of cost savings and ease-of-administration. For fleet operators looking at contract hire as the primary funding approach, there are three ways to procure one:

Multi-bid vehicle funding clear winner, says fleet veteran Keith Allen

Oct 14, 2020

CBVC Vehicle Management recently announced the release of a whitepaper discussing the various methods of procuring business contract hire funding for vehicles, and the benefits and drawbacks of each method. Entitled ‘The Benefits of Multi-Bid Vehicle Funding’, the paper concluded that the multi-bid acquisition method is the clear winner in terms of cost savings and ease-of-administration. For fleet operators looking at contract hire as the primary funding approach, there are three ways to procure one:

 

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Adapting to a complex forbearance environment

As forbearance support in the UK enters its final month for applications, asset finance lenders ar...

LeasePlan shuts used car platform in UK as Arval steps in to fill the gap

LeasePlan’s used car platform, CarNext.com, is set to close operations in the UK as it’s underlyin...

 

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