Digitalisation

Apple’s giant leap into fintech – what Apple Card means for the future of finance

Global tech giant Apple aims to rewrite the rules of finance with the release of Apple Card, its first major move into banking services. The launch of the card illustrates the disruptive power that tech giants can wield and highlights how their direct access to customers through technology, such as smartphones, can accelerate take-up.

Apple’s giant leap into fintech – what Apple Card means for the future of finance

Apr 16, 2019

Global tech giant Apple aims to rewrite the rules of finance with the release of Apple Card, its first major move into banking services. The launch of the card illustrates the disruptive power that tech giants can wield and highlights how their direct access to customers through technology, such as smartphones, can accelerate take-up.

How new AI capabilities are opening up opportunities for finance companies

The financial services sector exists in a disrupted and highly uncertain space. In the decade since the 2008 financial crash, there has been a fundamental shift in how it is regulated, how we think about finance, and how players compete. For instance, the UK has led the way with initiatives such as Open Banking and the Financial Conduct Authority’s Regulatory Sandbox to encourage and fast-track product innovation.

How new AI capabilities are opening up opportunities for finance companies

Apr 16, 2019

The financial services sector exists in a disrupted and highly uncertain space. In the decade since the 2008 financial crash, there has been a fundamental shift in how it is regulated, how we think about finance, and how players compete. For instance, the UK has led the way with initiatives such as Open Banking and the Financial Conduct Authority’s Regulatory Sandbox to encourage and fast-track product innovation.

White Clarke Group announced as Headline Sponsor at IAFN 2019

This year’s International Asset Finance Network (IAFN) conference and awards is proudly sponsored by asset finance technology leader White Clarke Group. On the 13th June, at 155 Bishopsgate in London, key industry leaders and specialists will gather at the IAFN conference to consider the findings of a major new study conducted by Professor Tim Baines of Aston Business School on the changing roles of fleet, auto retail and equipment finance providers as digitalisation and servitisation begins to transform the auto and equipment finance industry. This conference is based on a Delphi study, conducted amongst twelve leading global banks and manufacturer captives, supported by White Clarke Group, as new service-focussed finance models including pay-per-mile, power-by-the-hour, device-as-a-service and even (in the case of one robot manufacturer) pay-per-pick start to emerge.

White Clarke Group announced as Headline Sponsor at IAFN 2019

Apr 09, 2019

This year’s International Asset Finance Network (IAFN) conference and awards is proudly sponsored by asset finance technology leader White Clarke Group. On the 13th June, at 155 Bishopsgate in London, key industry leaders and specialists will gather at the IAFN conference to consider the findings of a major new study conducted by Professor Tim Baines of Aston Business School on the changing roles of fleet, auto retail and equipment finance providers as digitalisation and servitisation begins to transform the auto and equipment finance industry. This conference is based on a Delphi study, conducted amongst twelve leading global banks and manufacturer captives, supported by White Clarke Group, as new service-focussed finance models including pay-per-mile, power-by-the-hour, device-as-a-service and even (in the case of one robot manufacturer) pay-per-pick start to emerge.

Blockchain innovation in mobility - how smart contracts can power the new mobility economy

Blockchain technology has the potential to revolutionise the way mobility solutions are delivered and financed, drastically reducing the cost of providing services. Vehicle-based services such as ride-hailing could have their finance processing costs slashed to a fraction of their current level using the technology and it could transform the type of payments being made, according to Chris Ballinger, chief executive officer and founder of the Mobility Open Blockchain Initiative. MOBI is a global consortium that works with companies throughout the industry to establish common standards for the use of blockchain in the mobility industry. It aims to build a worldwide network of cities, infrastructure providers, consumers, and producers of mobility services in order to accelerate the adoption of the technology.

Blockchain innovation in mobility - how smart contracts can power the new mobility economy

Apr 08, 2019

Blockchain technology has the potential to revolutionise the way mobility solutions are delivered and financed, drastically reducing the cost of providing services. Vehicle-based services such as ride-hailing could have their finance processing costs slashed to a fraction of their current level using the technology and it could transform the type of payments being made, according to Chris Ballinger, chief executive officer and founder of the Mobility Open Blockchain Initiative. MOBI is a global consortium that works with companies throughout the industry to establish common standards for the use of blockchain in the mobility industry. It aims to build a worldwide network of cities, infrastructure providers, consumers, and producers of mobility services in order to accelerate the adoption of the technology.

Tomorrow’s Journey partners with LeasePlan UK ahead of mobility pilot

Global mobility start-up Tomorrow’s Journey has announced a partnership with LeasePlan UK to deliver a ground-breaking trial of its technology to maximise fleet utilisation. The company’s JRNY platform supports the use of shared assets, including fleet vehicles, to spread the benefits of new mobility options. The UK arm of LeasePlan, one of the world’s biggest leasing companies, has become the first partner in a live trial of the company’s technology by supplying vehicles for the pilot.

Tomorrow’s Journey partners with LeasePlan UK ahead of mobility pilot

Apr 05, 2019

Global mobility start-up Tomorrow’s Journey has announced a partnership with LeasePlan UK to deliver a ground-breaking trial of its technology to maximise fleet utilisation. The company’s JRNY platform supports the use of shared assets, including fleet vehicles, to spread the benefits of new mobility options. The UK arm of LeasePlan, one of the world’s biggest leasing companies, has become the first partner in a live trial of the company’s technology by supplying vehicles for the pilot.

Drivers to be offered mobility credits to give up cars in local authority scheme

Drivers in a UK trial are to be offered thousands of pounds in ‘mobility credits’ in return for giving up their cars to help tackle congestion and pollution. The scheme is part of a wide-ranging Future Mobility programme approved by West Midlands Combined Authority (WMCA) last week. Transport for West Midlands (TfWM), part of the WMCA, aims to encourage drivers to give up their private vehicles and opt for on-demand mobility solutions, such as car sharing, public transport and electric vehicle hire schemes.

Drivers to be offered mobility credits to give up cars in local authority scheme

Mar 28, 2019

Drivers in a UK trial are to be offered thousands of pounds in ‘mobility credits’ in return for giving up their cars to help tackle congestion and pollution. The scheme is part of a wide-ranging Future Mobility programme approved by West Midlands Combined Authority (WMCA) last week. Transport for West Midlands (TfWM), part of the WMCA, aims to encourage drivers to give up their private vehicles and opt for on-demand mobility solutions, such as car sharing, public transport and electric vehicle hire schemes.

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.

Experimenting with Automated Intelligence in asset finance

Finance providers should embrace the potential for intelligent software to transform their business operations by automating manual tasks and allowing employees to focus more on customer service excellence. Through an iterative process, suppliers can work with their customers to quickly develop digitalised services that could transform the way enquiries are managed, according to Morgan Owen, innovation consultant at White Clarke Group. As part of an innovation lab experiment at White Clarke Group, Owen looked at how a basic enquiry, such as settlement quote, could be answered automatically utilising natural language processing and artificial intelligence, leaving employees in a finance company to tackle more complex customer enquiries.

Experimenting with Automated Intelligence in asset finance

Jan 23, 2019

Finance providers should embrace the potential for intelligent software to transform their business operations by automating manual tasks and allowing employees to focus more on customer service excellence. Through an iterative process, suppliers can work with their customers to quickly develop digitalised services that could transform the way enquiries are managed, according to Morgan Owen, innovation consultant at White Clarke Group. As part of an innovation lab experiment at White Clarke Group, Owen looked at how a basic enquiry, such as settlement quote, could be answered automatically utilising natural language processing and artificial intelligence, leaving employees in a finance company to tackle more complex customer enquiries.

BNP Paribas Personal Finance UK partners with White Clarke Group to create new car finance offering

BNP Paribas Personal Finance UK has collaborated with global equipment and auto finance software company White Clarke Group to create a new motor finance solution. The finance company worked with specialist teams at White Clarke Group to create the new digital solution, which includes investment in enhanced IT platforms. A wide range of auto financing products will be offered through the service, including hire purchase, personal loans, stock financing, personal contract purchase and personal contract hire.

BNP Paribas Personal Finance UK partners with White Clarke Group to create new car finance offering

Jan 22, 2019

BNP Paribas Personal Finance UK has collaborated with global equipment and auto finance software company White Clarke Group to create a new motor finance solution. The finance company worked with specialist teams at White Clarke Group to create the new digital solution, which includes investment in enhanced IT platforms. A wide range of auto financing products will be offered through the service, including hire purchase, personal loans, stock financing, personal contract purchase and personal contract hire.

The future for equipment finance – pay for outcomes not assets

“Asset finance companies face a stark challenge as digital disruption changes the shape of the market.” This is the message from Jonathan Andrew, former global CEO commercial finance, Siemens Financial Services, who says changing customer expectations are reshaping the industry. In a speech before he left his role, he argued that businesses are becoming less interested in financing assets; instead, they want to pay for outcomes. For example, in industries such as healthcare there is less desire to pay for equipment such as an imaging machine. Instead, the focus is on paying for the positive results that are required from the equipment. This could include funding and supporting diagnostics, imaging, processes, people and facilities, all provided as a bundled service. Andrew said: “Somebody is taking a risk here to provide solutions, because the customer does not want to pay for the assets or the people or the diagnostics or the real estate that they’re using. They just want to pay for the outcome.” His vision of the future for equipment finance is covered in more detail in the following video, provided courtesy of global equipment and auto finance software company White Clarke Group.

The future for equipment finance – pay for outcomes not assets

Jan 16, 2019

“Asset finance companies face a stark challenge as digital disruption changes the shape of the market.” This is the message from Jonathan Andrew, former global CEO commercial finance, Siemens Financial Services, who says changing customer expectations are reshaping the industry. In a speech before he left his role, he argued that businesses are becoming less interested in financing assets; instead, they want to pay for outcomes. For example, in industries such as healthcare there is less desire to pay for equipment such as an imaging machine. Instead, the focus is on paying for the positive results that are required from the equipment. This could include funding and supporting diagnostics, imaging, processes, people and facilities, all provided as a bundled service. Andrew said: “Somebody is taking a risk here to provide solutions, because the customer does not want to pay for the assets or the people or the diagnostics or the real estate that they’re using. They just want to pay for the outcome.” His vision of the future for equipment finance is covered in more detail in the following video, provided courtesy of global equipment and auto finance software company White Clarke Group.

CIT point-of-sale digital platform wins global award

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

CIT point-of-sale digital platform wins global award

May 22, 2018

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

Digital transformation powers finance innovation in manufacturing sector

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Digital transformation powers finance innovation in manufacturing sector

May 22, 2018

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Safeguarding data is vital for sustainable digital financial services

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Safeguarding data is vital for sustainable digital financial services

May 21, 2018

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Unleash the Iron Man in your auto finance customer service team

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

Unleash the Iron Man in your auto finance customer service team

May 17, 2018

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

Ford and GM among partners in global mobility blockchain initiative

Ford, General Motors, Groupe Renault and several other high-profile players in the automotive market have signed up to join the Mobility Open Blockchain Initiative (MOBI). The newly-formed alliance is dedicated to exploring blockchain for use in a new digital mobility ecosystem.

Ford and GM among partners in global mobility blockchain initiative

May 11, 2018

Ford, General Motors, Groupe Renault and several other high-profile players in the automotive market have signed up to join the Mobility Open Blockchain Initiative (MOBI). The newly-formed alliance is dedicated to exploring blockchain for use in a new digital mobility ecosystem.

White Clarke Group and Toyota Financial Services (UK) win award for digital innovation

Leading finance technology company, White Clarke Group, and Toyota Financial Services have received a joint accolade for their work on a digital innovation. The award is based on White Clarke Group’s CALMS Digital Processing Solution that went live with Toyota in October 2017. The CALMS Digital Processing Solution, including e-signature and e-identity capability, provides advanced digital processing capabilities for document generation and management, as well as helping streamline the customer experience and reduce operating costs.

White Clarke Group and Toyota Financial Services (UK) win award for digital innovation

May 04, 2018

Leading finance technology company, White Clarke Group, and Toyota Financial Services have received a joint accolade for their work on a digital innovation. The award is based on White Clarke Group’s CALMS Digital Processing Solution that went live with Toyota in October 2017. The CALMS Digital Processing Solution, including e-signature and e-identity capability, provides advanced digital processing capabilities for document generation and management, as well as helping streamline the customer experience and reduce operating costs.