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

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

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 names Mithu Bhargava as president

Global fintech software specialist Solifi has named Mithu Bhargava as its first president, a newly created position on the executive team. Bhargava, formerly with NCR, brings more than 20 years of operational leadership to drive the delivery of scalable, sustainable, high-performing software-as-a-service (SaaS) products for the secured finance industry, as Solifi, formed of IDS, William Stucky and Associates and White Clarke Group, builds on its growth momentum.

Solifi names Mithu Bhargava as president

Jul 12, 2022

Solifi partners with EQ Riskfactor to offer integrated risk-management technology

Solifi has announced its latest technology partnership with EQ Riskfactor, a leading global provider of risk management software for the commercial finance market. Together, the two companies will offer asset-based lending (ABL) customers direct line of sight into collateral risk and performance in real-time. Rather than relying on historical trends and physical audits, ABL lenders can now see what’s happening to their loan or risk exposure online daily and take proactive steps to protect and manage their business.

Solifi partners with EQ Riskfactor to offer integrated risk-management technology

Jun 16, 2022

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 green recovery prompts investments in greener asset finance

By 2030, the world will look very different from today – and asset finance must act to keep up with the growth in green outlooks, a newly-launched report concludes. In a new whitepaper, ‘Green growth for asset finance companies’, SaaS (software-as-a-service) open finance technology company Solifi reveals how asset finance companies can redefine the business landscape over the next decade by making a conscious effort to support greener assets for their customers.

A green recovery prompts investments in greener asset finance

Mar 02, 2022

Solifi contract renewed by Exeter Finance

Global finance technology supplier Solifi has seen Exeter Finance extend its agreement to use the Solifi (formerly IDS and White Clarke Group) platform in more than 11,000 US auto dealerships. The indirect automotive finance provider first selected Solifi Originations software in 2013 for its ability to efficiently process high volumes of loan applications, which have now grown to more than 500,000 per month.

Solifi contract renewed by Exeter Finance

Feb 17, 2022

Solifi closes record year of growth with new global website

Global finance technology company Solifi is celebrating a transformational year of growth in 2021, which saw the business bring together three leading companies, and has launched a new website showcasing its portfolio of solutions. The cloud-based company now serves more than 300 secured finance customers in the automotive, equipment, wholesale, and working capital finance markets.

Solifi closes record year of growth with new global website

Feb 03, 2022

Solifi joins BlackBerry IVY Advisory Council to enhance connected vehicle future

Solifi has become the first automotive finance technology provider to join the BlackBerry IVY Advisory Council. The collaboration will integrate BlackBerry IVY with Solifi’s open finance platform to provide a reliable and secure way to access a broad catalogue of vehicle sensor data to enhance existing value-added services, optimize business operations, and power a new wave of innovative products and services for OEMs and auto finance providers.

Solifi joins BlackBerry IVY Advisory Council to enhance connected vehicle future

Jan 28, 2022

Potential new ‘Golden Age’ of asset finance ahead

The disruption caused by the pandemic has reinforced the need for the asset finance sector to be agile and reactive, and lenders who built strong bonds with their customers and vendor partners have reaped the benefits. Now the industry needs to adopt the same approach to deal with the challenges presented by the sustainability agenda, according to Jochen Jehmlich, CEO at Société Generale Equipment Finance (SGEF). Speaking at an Asset Finance Connect Senior Executives Fireside Chat, sponsored by Solifi, Jehmlich predicted a potential “golden age for asset finance to come”, pointing out that the urgent need for businesses and the whole economy to adopt climate-friendly ways of operating means that all assets will need to become greener.

Potential new ‘Golden Age’ of asset finance ahead

Dec 10, 2021

Solifi builds Q3 momentum with Pan-European growth in asset and automotive finance

Solifi (formerly IDS, William Stucky & Associates, and White Clarke Group) has announced several key successes across Europe, with leading equipment and automotive finance companies opting to work with the global fintech software specialist for secured finance to transform their business operations and expand their geographical reach with multi-country implementations.

Solifi builds Q3 momentum with Pan-European growth in asset and automotive finance

Nov 18, 2021

Launch of Solifi creates major new global finance software technology platform

Three major finance software companies, IDS, William Stucky and Associates and White Clarke Group, have been renamed as Solifi to provide a range of industry solutions on a single technology platform. The rebrand follows the acquisition by IDS of both William Stucky and Associates and White Clarke Group in the past year.

Launch of Solifi creates major new global finance software technology platform

Oct 12, 2021

IDS enters IDC FinTech Top 100 Rankings List

IDS, a leading provider of mission-critical enterprise solutions for secured finance, has been named one of the top 100 financial technology providers in the world, ranking 69th on the 2021 IDC FinTech Rankings. This is the first time IDS has been included in the annual vendor listing from IDC Financial Insights, which recognizes the world's leading hardware, software, and service providers to the financial services industry.

IDS enters IDC FinTech Top 100 Rankings List

Sep 14, 2021

Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

A new auto finance ecosystem is needed in which funders work with dealers and suppliers, including software providers, to build the processes and systems that support a digitalised, flexible finance journey for customers, according to a report published today by the International Asset Finance Network, in association with White Clarke Group (an IDS company). The report, called ‘Auto Finance Leaders Strategic Plan 2021’, reveals unique insights from auto finance industry leaders on the importance of changing the traditional business cycle to create products that drive revenue through renewal and long-term customer loyalty.

Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

Aug 18, 2021

IDS partners with digital transformation specialist Tamarack to drive IDScloud adoption

Secured finance technology provider IDS has signed a strategic partnership agreement with Tamarack Technologies, a leading provider of digital transformation services and solutions for equipment finance, as demand builds from firms looking to migrate to its end-to-end SaaS solution IDScloud.

IDS partners with digital transformation specialist Tamarack to drive IDScloud adoption

Jul 20, 2021

IDS extends ABL offering on IDScloud

Secured finance technology provider IDS is providing asset-based lenders with easy access to real-time portfolio insights following the migration of IDS ABL to IDScloud, its Software-as-a-Service-based solution. The move provides a more intuitive experience for customers and enables self-service funding requests and document submission.

IDS extends ABL offering on IDScloud

Jul 08, 2021

Learning lessons from Nike – Daniela Weitmann, head of global digital transformation, DLL

The new head of global digital transformation at DLL has revealed how her extensive experience outside the industry will help reshape the asset finance journey for customers. Daniela Weitmann, head of global digital transformation at DLL, spoke during a Fireside Chat hosted by the International Asset Finance Network, in association with White Clarke Group, an IDS company.

Learning lessons from Nike – Daniela Weitmann, head of global digital transformation, DLL

Jun 20, 2021

Future of asset finance in focus during IAFN debate with Richard Jones, Lloyds Banking Group’s motor finance and leasing MD

An in-depth discussion with Richard Jones, managing director of motor finance and leasing at Lloyds Banking Group, has revealed six key trends in asset finance that could shape the industry's future development. You can download a detailed summary of the debate using the form below. During the discussion, hosted by the International Asset Finance Network, in association with global asset finance software specialist White Clarke Group (an IDS company), he provided insights on issues including the future of subscription services, how growing demand for plug-in cars may affect the used car market and why a co-ordinated approach is vital to achieving a review of the Consumer Credit Act.

Future of asset finance in focus during IAFN debate with Richard Jones, Lloyds Banking Group’s motor finance and leasing MD

Jun 09, 2021

Brendan Gleeson appointed chief strategy officer to drive innovation at IDS

Secured finance software provider, IDS, has announced the appointment of Brendan Gleeson (pictured above) as chief strategy officer. Gleeson’s primary responsibility in the newly-created position will be to drive innovation. As the former group chief executive officer of White Clarke Group, Gleeson’s appointment marks the latest stage in IDS’ acquisition of the company. The merger of the two companies has formed a technology powerhouse that provides a range of software for the equipment, automotive and working capital finance sectors.

Brendan Gleeson appointed chief strategy officer to drive innovation at IDS

Jun 03, 2021

IDS completes acquisition of White Clarke Group to form software tech powerhouse

IDS Group, a secured finance software provider, has announced it the successful acquisition of White Clarke Group, a provider of retail, fleet, wholesale and asset finance software solutions for the automotive and equipment finance markets. The combination creates a multi-asset class secured finance technology powerhouse to support banks, independents, OEM captive and independent finance firms globally.

IDS completes acquisition of White Clarke Group to form software tech powerhouse

Jun 01, 2021

White Clarke Group to sell to IDS

UK headquartered White Clarke Group is to be acquired by US-headquartered IDS in a deal due to complete by the end of quarter 2, 2021, it was announced this Wednesday. The acquisition was the second to be announced in as many months by IDS, who also acquired ABL and factoring software providers William Stucky and Associates in February. The resulting business will offer a comprehensive range of asset finance solutions, including equipment finance, automotive finance, and working capital solutions globally.

White Clarke Group to sell to IDS

Apr 08, 2021

How SGEF is Navigating through the post-Covid landscape

The impact of digitalisation and sustainability on the future of asset finance were the focus of the first session in a major new seminar series organised by the International Asset Finance Network Online. In a series of ‘Fireside Chats’ throughout 2021, industry leaders will share their thoughts on the key trends that are affecting the auto and equipment finance markets and reveal their expert views on how the market is changing. The first of the sessions, supported by global asset finance software specialist White Clarke Group, featured Florence Roussel-Pollet, chief commercial officer of Societe Generale Equipment Finance (SGEF).

How SGEF is Navigating through the post-Covid landscape

Mar 11, 2021

How circular economy principles will drive asset finance growth

Asset finance companies have been urged to focus on the fundamentals of business when assessing how the circular economy can drive future growth. The circular economy is based around sustainability by promoting repair, refurbishment, and recycling above the ‘take, make, waste’ approach that has driven economic growth for decades. Carmen Ene, CEO of specialist IT provider 3StepIT, told delegates at the International Asset Finance Network conference that a focus on the economic principles of the circular economy was important to drive growth.

How circular economy principles will drive asset finance growth

Jan 05, 2021

Using new technology and Open Banking to increase lending and reduce the risk of defaults

Asset finance companies can transform the way they approach risk by embracing digitalisation and the power of open banking to turn data into effective insights. Fred Kelly, chief executive officer of Credit Kudos has built its credit reference agency platform around the in-depth customer knowledge that open banking can generate, enhanced by the ‘secret sauce’ of its own analytics engine. He told an International Asset Finance Network conference that data was changing the way businesses measure affordability and risk.

Using new technology and Open Banking to increase lending and reduce the risk of defaults

Nov 23, 2020

White Clarke Group unveil raft of new updates to finance application portal

UK-based finance software provider, White Clarke Group, have revealed the latest version of its CALMS Customer Direct module which aims to better support finance companies in the process of digitalising their online finance services. Designed to simplify and automate the complete end-to-end finance application journey, White Clarke Group explained that the core concept of the module is to enable customers to select finance options online, at their own pace and from the comfort of their own home.

White Clarke Group unveil raft of new updates to finance application portal

Nov 09, 2020

White Clarke Group launches Swiss leasing market report

Global finance technology company White Clarke Group has released a new country survey for the Swiss leasing market. Produced in association with the World Leasing Yearbook, the annual survey provides an assessment of the national leasing markets of Switzerland, focusing on the period up to mid-2019. Comprised of in-depth research conducted on behalf of Schweizerischer Leasingverband SLV/Association Suisse des Sociétés de Leasing ASSL, the survey offers a wealth of Switzerland’s leasing industry insights.

White Clarke Group launches Swiss leasing market report

Nov 02, 2020

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

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

Industry leaders reveal strategic plan for asset finance

More than 100 asset finance leaders have revealed their vision for the future of asset finance in a post-Covid world. In the special report, business leaders, including senior executives from some of Europe’s largest asset finance companies, assess industry changes caused by the pandemic and how they will reshape the long-term asset finance landscape. Since the Coronavirus crisis first appeared on the world stage, it has driven change at an unprecedented pace, as communities and companies have been forced to adapt.

Industry leaders reveal strategic plan for asset finance

Sep 03, 2020

Seven steps to servitisation in auto lending

The move towards servitisation will require companies to explore new business models, which has significant implications for auto finance leaders. Research carried out by global automotive, consumer and equipment finance software company White Clarke Group found that concerns around servitisation and the circular economy were a key area of focus during its discussions with industry leaders. The majority expected rapid growth in subscription services within the next five years, but they questioned the future growth of the pay-per use market, with key concerns including complex payment structures for customers.

Seven steps to servitisation in auto lending

Aug 19, 2020

World Finance introduces White Clarke Group’s loan origination software to drive growth

World Finance has implemented White Clarke Group’s CALMS loan origination software to drive growth and enhance efficiency. The partnership follows an industry-wide search for the best system by World Finance. CALMS will automate loan origination and improve transaction speed to enhance customer service and business processing. US-based World Finance initially selected White Clarke Group to complete trials of CALMS at three branches, with the system proving its value in 90 days, leading to its implementation across the business.

World Finance introduces White Clarke Group’s loan origination software to drive growth

Aug 13, 2020

White Clarke Group introduces subscription service capabilities in partnership with Wagonex

Finance technology provider White Clarke Group has partnered with automotive subscription services company Wagonex to extend a pay-to-use car provision strategy to its customer base. Wagonex offers a wide range of vehicles to customers through a number of manufacturer partners, which are all offered for an all-inclusive monthly fee. The new integration with White Clarke Group allows the global software company to bring subscription-based capabilities to its clients throughout Europe.

White Clarke Group introduces subscription service capabilities in partnership with Wagonex

Aug 03, 2020

Renault’s partnership with Google Cloud aims to accelerate digitalisation in auto market

Renault and Google Cloud have announced a new partnership to fast-track the digitization of the automaker’s industrial system, and perfect it’s data management platform. With some experience developing its own digital platform, Renault focused on using the platform to connect and aggregate industrial data from 22 sites worldwide representing 76% of its vehicle production. The integration of Google Cloud’s solutions and experience in smart analytics, machine learning and artificial intelligence (AI) is hoped to boost Renault’s supply chain and manufacturing efficiency and production quality, while reducing the environmental impact.

Renault’s partnership with Google Cloud aims to accelerate digitalisation in auto market

Jul 17, 2020

Coronavirus: a crisis for asset finance operations or a catalyst for technological change?

Business leaders have largely embraced the rapid introduction of home working and digital processes as an inevitable necessity. Though the global lockdown has rapidly accelerated trends in digitalisation, seeing many asset finance businesses moving their operations entirely online in a contracted timescale, the direction of these developments is not a new concept for the industry. As a result, the past three months of Zoom, Teams, and Slack meetings, shopping exclusively online, and a new appreciation for IT infrastructure staff, have defined a new – though not unexpected –future for how businesses will operate, long after office doors reopen.

Coronavirus: a crisis for asset finance operations or a catalyst for technological change?

Jul 16, 2020

How augmented intelligence can unlock growth in auto finance

User experience will prove critical to extracting the most valuable insights from data as companies generate ever-greater quantities of complex information about their businesses and their customers. Although robotic process automation, analytics, and artificial intelligence can generate a wealth of valuable business data, it will never become actionable insight unless it is transformed into a usable format that executives can understand. If data is not easy to digest and interpret, then it will not provide the benefits that companies need, according to Alex Plenty, vice-president, data and analytics, Genpact. He warned: “I hear a lot of times of people building ‘data lakes’ but the data is not getting out to the business fast enough.”

How augmented intelligence can unlock growth in auto finance

Jun 22, 2020

White Clarke Group reveals changing shape of USA leasing market

Leading finance technology company White Clarke Group has launched a new USA leasing market report that profiles a robust industry well-placed to manage the economic challenges ahead. The annual survey, produced in association with the World Leasing Yearbook, assesses the performance of the national leasing market in the USA up to mid-2019. It uses in-depth research conducted on behalf of the Equipment Leasing & Finance Foundation by Keybridge Research and offers a wealth of economic and industry insights, including the size of the equipment finance market before the impact of the Coronavirus pandemic.

White Clarke Group reveals changing shape of USA leasing market

Jun 10, 2020

Creating Mobility-as-a-Service Models

Leasing companies are focusing on their core strengths as they adapt to meet the new mobility needs of consumers. In carving a new role in the Mobility as a Service landscape, leasing companies can excel as specialist providers of vehicles to other mobility services, including global technology platforms such as Uber, in addition to their traditional role of providing vehicles direct to end-user customers. This plays to the strengths of leasing companies as vehicle management experts, particularly when it comes to serving the complex needs of large fleets.

Creating Mobility-as-a-Service Models

Jun 01, 2020

Invisible assets - managing the rise of servitization in asset finance

The asset finance industry is changing as customers look to fund ‘invisible assets’ that fall outside traditional product boundaries. Historically, the industry used the mantra ‘you can only finance it if it has wheels on the corner’ to identify assets that could be financed, but this is no longer the case. Growing interest in servitization means companies are looking to fund access to products and services rather than owning assets themselves.

Invisible assets - managing the rise of servitization in asset finance

Apr 28, 2020

German Leasing Market Update Released

The German leasing sector reported a robust market ahead of the disruption caused by the Coronavirus, with growth in total volume to more than €60 billion, according to a new market report. The report has been released by White Clarke Group in association with the World Leasing Yearbook and provides an assessment of markets in the period up to mid-2019. It reveals that in 2018 the total volume of new business acquired in Germany was €60.7bn (as compared with €58.8bn in the preceding year).

German Leasing Market Update Released

Apr 27, 2020

Breaking the 9-to-5: The rise of “anytime, anywhere” service in auto finance

Auto finance providers must be prepared to provide on-demand service to deliver the experience that customers now expect in return for their loyalty. The provision of a seamless, high quality and personalised service will be vital to future growth as there is an increasing focus on supporting customer interactions at any time of day. Nick Smith, partner with Deloitte Consulting, stated: “Customer centricity is absolutely vital; people expect an anytime, anywhere customer experience; it is not just 9-to-5.”

Breaking the 9-to-5: The rise of “anytime, anywhere” service in auto finance

Apr 07, 2020

FCA partners with Amazon to deliver cars by subscription

Car manufacturers are developing innovative new finance models as customers expect to move away from ownership towards usership. Among the leading innovators is FCA Bank, which is powering a range of new services for car users, including pay per kilometre and cars by subscription through its mobility arm Leasys. Marcella Merli, head of sales and marketing for FCA Bank, said: “Mobility services are really paramount for the future of our sector and the revolution is also coming from the customer.”

FCA partners with Amazon to deliver cars by subscription

Mar 16, 2020

White Clarke Group partners with Solutions by Text to enhance customer communications

Global finance technology company White Clarke Group is partnering with SMS software company Solutions by Text to support better communication between lenders, dealerships and customers. The integration coordinates White Clarke Group’s existing CALMS loan origination software with Solutions by Text’s automated outbound messaging services. This enables lenders to send SMS notifications on the progress of ongoing applications.

White Clarke Group partners with Solutions by Text to enhance customer communications

Mar 16, 2020

White Clarke Group appoints Wayne Ross as group chief technical officer

White Clarke Group has appointed Wayne Ross as its group chief technical officer. Ross (pictured) has worked in engineering, technology development and business management for 25 years and will be supporting White Clarke Group’s executive board to lead the company’s strategic development of innovative technology.

White Clarke Group appoints Wayne Ross as group chief technical officer

Mar 13, 2020

Using AI to innovate and drive loyalty through remarkable customer experiences

Artificial intelligence can play a key role in improving levels of customer service and satisfaction in auto finance to increase loyalty and revenue, according to a leading industry expert. Bob Beatty, executive vice-president, customer experience, at GM Financial has revealed how AI can revolutionise how thousands of customer interactions are handled, giving team members more time to manage more complex customer enquiries. “The mandate I was given was to innovate to drive loyalty through remarkable customer experiences from the dealer front and the customer front,” Beatty said. “I looked at what our customers were telling us and instead of taking it as exactly what they were saying, when I looked at it from a different perspective, they were saying, ‘make this easy, give me my time back.’ Time has become our customers’ greatest asset now.”

Using AI to innovate and drive loyalty through remarkable customer experiences

Feb 25, 2020

Digitalisation