DLL has marked five decades of growth since its launch that have seen it expand from a three-employee company in a small Dutch village to a global vendor finance business with 5,000 employees in more than 30 countries.
In a review of the company’s progress, Bill Stephenson (pictured), chief executive officer and chairman of the executive board at DLL, praised its “entrepreneurial, forward-looking culture”.
He said: “In 1969, we started by paving the way with innovative solutions for local Dutch farmers. Today, we provide custom financing solutions for businesses around the world and are leading the development of pay-per-use solutions to address the growing trend of usage over ownership.
“We have accomplished this by carefully listening to our customers and anticipating their needs, which will continue to be a key to our success in the future.
“Our unrelenting focus on disruptive innovation and customer experience, combined with our people and products, will continue to differentiate DLL and ensure continued success for another 50 years and beyond.”
This year, DLL revealed its flagship global business unit, named Direct Solutions, to drive its innovative approach on usage-based consumption products and continue development on a direct business model that complements its vendor finance business.
It will also focus on strategic acquisitions for DLL, particularly those that bring expanded product and service capabilities or specialised knowledge to the business.
The unit will be run by its president, Steve Riggs, an industry veteran with more than 35 years equipment finance industry experience, including 15 years in the DLL leadership team.
In his new position, Riggs will provide usage-based financing solutions to end-user customers.
Riggs said: “Our industry continues to evolve, and the pace of change is accelerating. Buying habits are shifting and placing new requirements on the financial services sector.
“Businesses want the flexibility to pay for their equipment and technology as they use it, rather than owning the assets outright. I’m excited to develop a business that is focused on getting in front of these trends and delivering innovative solutions and incremental value to our customers.”
Direct Solutions will be tasked with developing new consumption-based models such as pay-per-use and managed solutions and expanding the customer base to new industry sectors.
Tom Meredith, chief commercial officer at DLL, added: “Being a pioneer means that we must be willing and able to do things differently—to be disruptive in a deliberate and meaningful way that allows new ideas to be tested and flourish.
“Forming a new GBU reflects this approach and Steve brings a wealth of experience and energy to his new role. I am confident the Direct Solutions GBU will achieve success under his leadership.”
DLL is part of Rabobank Group, the Netherlands-based international financial services provider, which operates in 41 countries and was placed fourth in the annual Asset Finance Europe 50 last year.
In the 2019 edition of the AF50 UK, which tracks the country’s largest asset finance companies, DLL was listed in sixth, with a 14% increase in its net investment in business equipment leasing.
The impact of servitisation on the asset finance sector was one of the headline topics of the International Asset Finance Network conference that took place in London during June.
