Alfa whitepaper reveals impact of LIBOR reform on asset finance providers

Asset finance software and services provider Alfa has published a new whitepaper that provides in-depth guidance on LIBOR reform. LIBOR rates are used by auto and equipment finance businesses globally as a benchmark to determine customer interest rates. However, LIBOR, EURIBOR and other such rates carry inherent shortcomings that have led to their planned replacement by alternative risk-free rates such as SONIA and SOFR. In the whitepaper, called LIBOR Reform: The Impact for Auto and Equipment Finance Providers, Alfa analyses the changes, why they are happening and what impact they will have on asset finance providers.Issues covered include how asset finance company systems must be enhanced to accommodate the changes.

Alfa whitepaper reveals impact of LIBOR reform on asset finance providers

Jun 10, 2020

Asset finance software and services provider Alfa has published a new whitepaper that provides in-depth guidance on LIBOR reform. LIBOR rates are used by auto and equipment finance businesses globally as a benchmark to determine customer interest rates. However, LIBOR, EURIBOR and other such rates carry inherent shortcomings that have led to their planned replacement by alternative risk-free rates such as SONIA and SOFR. In the whitepaper, called LIBOR Reform: The Impact for Auto and Equipment Finance Providers, Alfa analyses the changes, why they are happening and what impact they will have on asset finance providers.Issues covered include how asset finance company systems must be enhanced to accommodate the changes.

Nine asset finance companies revealed as sector leaders in AF50 UK 2020

The annual Asset Finance 50 UK has revealed nine companies that are leading their sectors for growth or size in the £40 billion asset finance market. The AF50 list of industry leaders is based on data from the exclusive 2020 Asset Finance UK 50 report.

Nine asset finance companies revealed as sector leaders in AF50 UK 2020

Jun 01, 2020

The annual Asset Finance 50 UK has revealed nine companies that are leading their sectors for growth or size in the £40 billion asset finance market. The AF50 list of industry leaders is based on data from the exclusive 2020 Asset Finance UK 50 report.

AF50 UK 2020 reveals country’s biggest asset finance companies

The UK’s finance industry leaders have revealed their vision for the future as the market responds to the Coronavirus pandemic. The exclusive 2020 Asset Finance 50 report provides a unique ‘before and after’ perspective of the market, with detailed analysis of the industry carried out using last year’s financial data, ahead of the pandemic starting, while expert analysis looks at the potential long-term impact of the ongoing crisis. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £40.5 billion, a 7.1% increase from the previous year’s report.

AF50 UK 2020 reveals country’s biggest asset finance companies

May 22, 2020

The UK’s finance industry leaders have revealed their vision for the future as the market responds to the Coronavirus pandemic. The exclusive 2020 Asset Finance 50 report provides a unique ‘before and after’ perspective of the market, with detailed analysis of the industry carried out using last year’s financial data, ahead of the pandemic starting, while expert analysis looks at the potential long-term impact of the ongoing crisis. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £40.5 billion, a 7.1% increase from the previous year’s report.

Hampshire Trust Bank accelerates software launch with Alfa Start

Hampshire Trust Bank’s specialist business finance division has gone live with Alfa Systems after introducing the new Alfa Start solution to accelerate implementation. The rapid launch of the preconfigured Alfa Start solution meant the Alfa Systems platform was introduced in four months.

Hampshire Trust Bank accelerates software launch with Alfa Start

Mar 18, 2020

Hampshire Trust Bank’s specialist business finance division has gone live with Alfa Systems after introducing the new Alfa Start solution to accelerate implementation. The rapid launch of the preconfigured Alfa Start solution meant the Alfa Systems platform was introduced in four months.

Alfa reveals new preconfigured software platform for equipment finance as HTB becomes first customer

Global software giant Alfa has launched a new preconfigured solution that enables equipment finance companies to rapidly implement its award-winning software. The new offering, called Alfa Start, comes predesigned and ready to use, which largely removes the in-depth consultation process that the software company carries out with customers who are supplied with its full Alfa Systems solution. Sarah Taylor, senior project manager at Alfa, said: “We see it as a project accelerator. It is faster to implement, but Alfa Start still has the full power of Alfa Systems’ technology. “It is simplified to reflect the fact that some businesses, whether they are start-ups or major organisations, don’t require the complexity of the full system implementation. “It represents the best of both worlds for our customers. You get all the futureproof power of Alfa Systems and the benefits that brings, without incurring the costs of a bespoke implementation.”

Alfa reveals new preconfigured software platform for equipment finance as HTB becomes first customer

Mar 06, 2020

Global software giant Alfa has launched a new preconfigured solution that enables equipment finance companies to rapidly implement its award-winning software. The new offering, called Alfa Start, comes predesigned and ready to use, which largely removes the in-depth consultation process that the software company carries out with customers who are supplied with its full Alfa Systems solution. Sarah Taylor, senior project manager at Alfa, said: “We see it as a project accelerator. It is faster to implement, but Alfa Start still has the full power of Alfa Systems’ technology. “It is simplified to reflect the fact that some businesses, whether they are start-ups or major organisations, don’t require the complexity of the full system implementation. “It represents the best of both worlds for our customers. You get all the futureproof power of Alfa Systems and the benefits that brings, without incurring the costs of a bespoke implementation.”

Bank of America’s AI-driven assistant Erica adds new skills as it attracts 10m users

Bank of America’s artificial intelligence-driven virtual financial assistant Erica has reached 10 million users since its launch and completed 100 million client requests. In response to growing adoption, the smartphone-based service will offer new personalised, proactive guidance to help customers with finance. Enhancements include a new refund confirmation service, so clients are proactively notified when a merchant refund is posted and available to use.

Bank of America’s AI-driven assistant Erica adds new skills as it attracts 10m users

Feb 14, 2020

Bank of America’s artificial intelligence-driven virtual financial assistant Erica has reached 10 million users since its launch and completed 100 million client requests. In response to growing adoption, the smartphone-based service will offer new personalised, proactive guidance to help customers with finance. Enhancements include a new refund confirmation service, so clients are proactively notified when a merchant refund is posted and available to use.

Global growth beckons for Intrador as it builds on major award wins

Data specialist Intrador is planning global growth for its technology solutions for the equipment finance industry after securing two major industry awards for its work. The company won the PowerUp London Overall Innovation Award at the International Asset Finance Network Conference and Awards in London last year, along with the PowerUp London Techstar of the Year Award. Intrador analyses the data of more than 2.5 million machines for sale and has built up a wealth of data on more than 900 brands and 80,000 asset types. It has used this data to develop a range of products to support customers, covering audits, remarketing, market data and sales, including smartphone apps.

Global growth beckons for Intrador as it builds on major award wins

Feb 12, 2020

Data specialist Intrador is planning global growth for its technology solutions for the equipment finance industry after securing two major industry awards for its work. The company won the PowerUp London Overall Innovation Award at the International Asset Finance Network Conference and Awards in London last year, along with the PowerUp London Techstar of the Year Award. Intrador analyses the data of more than 2.5 million machines for sale and has built up a wealth of data on more than 900 brands and 80,000 asset types. It has used this data to develop a range of products to support customers, covering audits, remarketing, market data and sales, including smartphone apps.

Why the challenge of legacy systems must be addressed in 2020

The finance sector needs to embrace partnerships to cost effectively update its legacy systems and infrastructures to meet the future demands of consumers and businesses, industry experts warn. The comments follow industry analysis from GlobalData, which asked a range of experts about key finance trends for 2020.

Why the challenge of legacy systems must be addressed in 2020

Jan 20, 2020

The finance sector needs to embrace partnerships to cost effectively update its legacy systems and infrastructures to meet the future demands of consumers and businesses, industry experts warn. The comments follow industry analysis from GlobalData, which asked a range of experts about key finance trends for 2020.

Asia leads the way as fintech disruption changes finance markets

Fintech disruption in the services sector - ranging from pizza ordering through to car and computer equipment leasing - is not only likely to continue, it is also expected to accelerate over the coming years in response to the rapid digitalisation of the global economy, says Martin Morris.

Asia leads the way as fintech disruption changes finance markets

Jan 09, 2020

Fintech disruption in the services sector - ranging from pizza ordering through to car and computer equipment leasing - is not only likely to continue, it is also expected to accelerate over the coming years in response to the rapid digitalisation of the global economy, says Martin Morris.