Digitalisation

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

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.”

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

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.”

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

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.

 

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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

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.”

Simply completes first deal powered by open banking technology

SME funder Simply has completed its first deal enabled through open banking technology that accelerates the funding process by providing quick, secure access to customer data. The customer was talking to Simply about a funding package and provided permission for the finance provider to electronically view banking data. Simply could then digitally access statements, removing the need for the customer to email or print them. Data was then analysed using software to speed decision-making.

Simply completes first deal powered by open banking technology

Feb 10, 2020

SME funder Simply has completed its first deal enabled through open banking technology that accelerates the funding process by providing quick, secure access to customer data. The customer was talking to Simply about a funding package and provided permission for the finance provider to electronically view banking data. Simply could then digitally access statements, removing the need for the customer to email or print them. Data was then analysed using software to speed decision-making.

Ransomware gangs increase raids as car parts company Gedia becomes latest cyber-attack victim

German car parts manufacturer Gedia has shut down its IT systems after a cyber-attack. Industry experts are blaming the attack on the same hackers who crippled global travel money giant Travelex, which is still offline nearly a month after it was hit. The car parts manufacturer said it couldn’t comment on the source of the attack and said it had called in the police, while an emergency plan has been put in place to maintain deliveries. Gedia Automotive Group employs 4,300 people in seven countries and initially warned the attack could have far-reaching consequences.

Ransomware gangs increase raids as car parts company Gedia becomes latest cyber-attack victim

Jan 28, 2020

German car parts manufacturer Gedia has shut down its IT systems after a cyber-attack. Industry experts are blaming the attack on the same hackers who crippled global travel money giant Travelex, which is still offline nearly a month after it was hit. The car parts manufacturer said it couldn’t comment on the source of the attack and said it had called in the police, while an emergency plan has been put in place to maintain deliveries. Gedia Automotive Group employs 4,300 people in seven countries and initially warned the attack could have far-reaching consequences.

UK strengthens role as fintech leader

The UK has strengthened its role as a European leader in fintech through a flexible regulatory regime, supportive government policy and strong investment, new research reveals. As a European hub of the fintech ecosystem, it received total funding of $3.9 billion 2018, out of total investment of $6.9 billion across Europe. A new study by Accenture Strategy and Assifact, the Italian Factoring Association, analysed more than 250 companies in seven countries, with the aim of identifying the most innovative solutions and business models in supply chain finance.

UK strengthens role as fintech leader

Jan 27, 2020

The UK has strengthened its role as a European leader in fintech through a flexible regulatory regime, supportive government policy and strong investment, new research reveals. As a European hub of the fintech ecosystem, it received total funding of $3.9 billion 2018, out of total investment of $6.9 billion across Europe. A new study by Accenture Strategy and Assifact, the Italian Factoring Association, analysed more than 250 companies in seven countries, with the aim of identifying the most innovative solutions and business models in supply chain finance.

V12 Vehicle Finance partners with Click Dealer to create seamless sales and finance process for dealers

V12 Vehicle Finance and Click Dealer have launched a major partnership to streamline the way cars are sold and financed. It will banish key ‘pain points’ for dealers by integrating the process of sourcing, financing and selling vehicles into a single integrated platform. David Mercer (pictured top), managing director of V12 Vehicle Finance, said: “Our joint vision is to take friction out of all dealer processes to provide confidence and value to dealers, as well as benefit the consumer customer journey.“Our partnership will help address the challenge of locating and buying used stock more efficiently and then converting the car into a retail sale, whatever a customers’ credit profile, whilst working within FCA compliance regulations.”

V12 Vehicle Finance partners with Click Dealer to create seamless sales and finance process for dealers

Jan 21, 2020

V12 Vehicle Finance and Click Dealer have launched a major partnership to streamline the way cars are sold and financed. It will banish key ‘pain points’ for dealers by integrating the process of sourcing, financing and selling vehicles into a single integrated platform. David Mercer (pictured top), managing director of V12 Vehicle Finance, said: “Our joint vision is to take friction out of all dealer processes to provide confidence and value to dealers, as well as benefit the consumer customer journey.“Our partnership will help address the challenge of locating and buying used stock more efficiently and then converting the car into a retail sale, whatever a customers’ credit profile, whilst working within FCA compliance regulations.”

Nordea offers carbon footprint summaries to 3 million digital banking customers

Leading Nordic bank Nordea is using its digital banking services to offer customers an individual summary of their carbon footprint. The new service gives an insight into the environmental impact of daily consumption behaviour when using a payment card, to help customers make greener choices.

Nordea offers carbon footprint summaries to 3 million digital banking customers

Jan 20, 2020

Leading Nordic bank Nordea is using its digital banking services to offer customers an individual summary of their carbon footprint. The new service gives an insight into the environmental impact of daily consumption behaviour when using a payment card, to help customers make greener choices.

Finance industry warned to take action after Travelex cyber attack

As a cyber attack continues to cause severe disruption to global currency dealer Travelex, chief executives and CIOs in the finance industry face a stark question in 2020 – will we be next? In a special report, John Maslen talks to industry experts about what business leaders must do to prevent successful attacks.

Finance industry warned to take action after Travelex cyber attack

Jan 13, 2020

As a cyber attack continues to cause severe disruption to global currency dealer Travelex, chief executives and CIOs in the finance industry face a stark question in 2020 – will we be next? In a special report, John Maslen talks to industry experts about what business leaders must do to prevent successful attacks.

Why companies need to embrace digital transformation to drive competitive advantage

Companies should take a “think big, start small, scale fast” approach as they incorporate the Internet of Things into their operations, says Anthony Casciano, president and chief executive officer of Siemens Financial Services. He explains why this involves driving IoT from a business case, not pushing a technology into operations simply because of its fascinating potential.

Why companies need to embrace digital transformation to drive competitive advantage

Jan 13, 2020

Companies should take a “think big, start small, scale fast” approach as they incorporate the Internet of Things into their operations, says Anthony Casciano, president and chief executive officer of Siemens Financial Services. He explains why this involves driving IoT from a business case, not pushing a technology into operations simply because of its fascinating potential.

Why 2020 is the year of subscriptions

The subscription model is the largest trend in retail, offering a new way to source goods and services that gives customers the flexibility to switch to new products as their needs change. As more businesses, big and small, roll out a subscription offering, Wagonex chief executive officer Toby Kernon explains why it is the largest trend in retail.

Why 2020 is the year of subscriptions

Jan 07, 2020

The subscription model is the largest trend in retail, offering a new way to source goods and services that gives customers the flexibility to switch to new products as their needs change. As more businesses, big and small, roll out a subscription offering, Wagonex chief executive officer Toby Kernon explains why it is the largest trend in retail.

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.

Banking in the future will combine technology and the personal touch

Over the past decade, banking apps on smartphones have given people the freedom to manage their finances when and how they want. But even bigger benefits are just around the corner, says Josh Bottomley, global head of digital, data and development at HSBC.

Banking in the future will combine technology and the personal touch

Dec 04, 2019

Over the past decade, banking apps on smartphones have given people the freedom to manage their finances when and how they want. But even bigger benefits are just around the corner, says Josh Bottomley, global head of digital, data and development at HSBC.

Oodle Car Finance CEO Jonny Clayton prepares to accelerate growth as company rolls out new technology

IAFN Award-winning funder Oodle Car Finance is developing innovative new technology to power the next stage of its rapid growth, led by chief executive officer and founder Jonny Clayton. Miles Rogerson reports.

Oodle Car Finance CEO Jonny Clayton prepares to accelerate growth as company rolls out new technology

Nov 27, 2019

IAFN Award-winning funder Oodle Car Finance is developing innovative new technology to power the next stage of its rapid growth, led by chief executive officer and founder Jonny Clayton. Miles Rogerson reports.

Making finance sourcing as simple as booking a flight

Innovative finance company iwoca is bringing radical change to the way small businesses source funding with its new digital platform. The tech-enabled lender was developed by chief executive officer Christoph Rieche after he saw how much SME’s struggled to obtain finance when they needed it because banks were reluctant to lend or tied them up in paperwork. In response, iwoca used digitalisation and new technology to drastically reduce the administration involved in sourcing finance, so now an SME can obtain a loan using a digital device in a matter of minutes. Rieche said: “Part of our mission is to make it as simple as booking a flight ticket, which really brings us to the DNA of the company; we see ourselves much more as a technology company than a bank or finance company.” You can see how the process works in this exclusive video, provided courtesy of global automotive, consumer and equipment finance software company White Clarke Group.

Making finance sourcing as simple as booking a flight

Mar 19, 2019

Innovative finance company iwoca is bringing radical change to the way small businesses source funding with its new digital platform. The tech-enabled lender was developed by chief executive officer Christoph Rieche after he saw how much SME’s struggled to obtain finance when they needed it because banks were reluctant to lend or tied them up in paperwork. In response, iwoca used digitalisation and new technology to drastically reduce the administration involved in sourcing finance, so now an SME can obtain a loan using a digital device in a matter of minutes. Rieche said: “Part of our mission is to make it as simple as booking a flight ticket, which really brings us to the DNA of the company; we see ourselves much more as a technology company than a bank or finance company.” You can see how the process works in this exclusive video, provided courtesy of global automotive, consumer and equipment finance software company White Clarke Group.

Sixt launches global mobility strategy powered by new smartphone app

Sixt has launched a new smartphone app offering vehicle rental, car sharing and taxi/transfer services on a single platform as part of its strategic expansion to become a global mobility services provider. Sixt claims the app, called One, is the first integrated mobility platform in the world and can be used to book its services along with a range of affiliated partners, so customers have access to 240,000 vehicles, 1,500 mobility suppliers and more than one million drivers. In a key development, Sixt’s own connected car fleet will become multi-use, so vehicles can be used either for car sharing or rental.

Sixt launches global mobility strategy powered by new smartphone app

Mar 12, 2019

Sixt has launched a new smartphone app offering vehicle rental, car sharing and taxi/transfer services on a single platform as part of its strategic expansion to become a global mobility services provider. Sixt claims the app, called One, is the first integrated mobility platform in the world and can be used to book its services along with a range of affiliated partners, so customers have access to 240,000 vehicles, 1,500 mobility suppliers and more than one million drivers. In a key development, Sixt’s own connected car fleet will become multi-use, so vehicles can be used either for car sharing or rental.

Volkswagen reveals progress on strategic partnership with Microsoft as it aims to transform into software-driven mobility provider

Volkswagen will extend the reach of its major Automotive Cloud project to China and the US as part of its partnership with Microsoft, as the manufacturer transforms into a software-driven mobility provider. Initially, the project was focused on Europe, but the expansion reflects Volkswagen’s ambition to reinvent the business on a global scale. It also reflects the chosen markets for the future full-electric, fully connected ID. model family.

Volkswagen reveals progress on strategic partnership with Microsoft as it aims to transform into software-driven mobility provider

Mar 06, 2019

Volkswagen will extend the reach of its major Automotive Cloud project to China and the US as part of its partnership with Microsoft, as the manufacturer transforms into a software-driven mobility provider. Initially, the project was focused on Europe, but the expansion reflects Volkswagen’s ambition to reinvent the business on a global scale. It also reflects the chosen markets for the future full-electric, fully connected ID. model family.

Fintech lender iwoca raises £150m to accelerate expansion

Innovative small business lender iwoca has raised £150m in new equity and debt capital, bringing its total funding to £350m. Its most recent fundraising included investment from Augmentum Fintech, the specialist fintech venture capital investor, NIBC Bank and Prime Ventures, along with other funders. The capital raised will be used to fund small business owners across iwoca’s markets in UK, Germany and Poland; iwoca reached profitability in 2018, while doubling its revenue in each of the last three years.

Fintech lender iwoca raises £150m to accelerate expansion

Feb 18, 2019

Innovative small business lender iwoca has raised £150m in new equity and debt capital, bringing its total funding to £350m. Its most recent fundraising included investment from Augmentum Fintech, the specialist fintech venture capital investor, NIBC Bank and Prime Ventures, along with other funders. The capital raised will be used to fund small business owners across iwoca’s markets in UK, Germany and Poland; iwoca reached profitability in 2018, while doubling its revenue in each of the last three years.

BMW hosts first European meeting for Mobility Open Blockchain Initiative

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

BMW hosts first European meeting for Mobility Open Blockchain Initiative

Feb 14, 2019

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

How BMW is delivering a new era of urban mobility solutions

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.

How BMW is delivering a new era of urban mobility solutions

Feb 13, 2019

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.