JLR develops futuristic smart city hub in Ireland to test self-driving tech

Automotive giant Jaguar Land Rover (JLR) is set to develop a smart city hub to enable the real-world testing of connected technology. This includes the simulation of a variety of road environments and traffic scenarios where self-driving vehicles will share the streets with cars, pedestrians and cyclists. Based in Ireland, the hub will provide research opportunities for autonomous, connected, electrified and shared vehicles.

JLR develops futuristic smart city hub in Ireland to test self-driving tech

Nov 27, 2020

Automotive giant Jaguar Land Rover (JLR) is set to develop a smart city hub to enable the real-world testing of connected technology. This includes the simulation of a variety of road environments and traffic scenarios where self-driving vehicles will share the streets with cars, pedestrians and cyclists. Based in Ireland, the hub will provide research opportunities for autonomous, connected, electrified and shared vehicles.

CrediCar platform wins latest in succession of awards

CrediCar has won another plaudit in a line of awards since its inception in 2019, bagging Digital Innovation of the Year: Consumer Finance at the Motor Finance Awards in London. The innovative platform puts customers at the heart of the car finance journey, giving them the information and tools to configure accurate car finance quotes based on their actual credit risk and affordability profile, allowing a customer to consider correct finance quotes as they choose between cars on offer at dealerships.

CrediCar platform wins latest in succession of awards

Nov 26, 2020

CrediCar has won another plaudit in a line of awards since its inception in 2019, bagging Digital Innovation of the Year: Consumer Finance at the Motor Finance Awards in London. The innovative platform puts customers at the heart of the car finance journey, giving them the information and tools to configure accurate car finance quotes based on their actual credit risk and affordability profile, allowing a customer to consider correct finance quotes as they choose between cars on offer at dealerships.

V12 expands its stock funding product with Wilsons Auctions

V12 Vehicle Finance (V12) has partnered with Wilsons Auctions, the UK and Ireland’s largest independent auction company, and launched WilPay a stock funding product. Wilsons Auctions is the third national auction company with whom V12 Vehicle Finance has partnered and offered its dealer stocking plan - the others being Aston Barclay and City Auction Group.

V12 expands its stock funding product with Wilsons Auctions

Nov 25, 2020

V12 Vehicle Finance (V12) has partnered with Wilsons Auctions, the UK and Ireland’s largest independent auction company, and launched WilPay a stock funding product. Wilsons Auctions is the third national auction company with whom V12 Vehicle Finance has partnered and offered its dealer stocking plan - the others being Aston Barclay and City Auction Group.

Onguard introduces machine learning to predict payment behaviour

Fintech company Onguard is collaborating on a new service to be launched next year that will use machine learning to predict customer payment behaviour. The new platform will combine historical data from Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and a machine-learning based scorecard from Quantforce, based on invoice and payment history. Debtors can be ranked in order of the risk of non-payment, which enables finance companies to introduce planning at an early stage using automated workflows.

Onguard introduces machine learning to predict payment behaviour

Dec 02, 2019

Fintech company Onguard is collaborating on a new service to be launched next year that will use machine learning to predict customer payment behaviour. The new platform will combine historical data from Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and a machine-learning based scorecard from Quantforce, based on invoice and payment history. Debtors can be ranked in order of the risk of non-payment, which enables finance companies to introduce planning at an early stage using automated workflows.

NETSOL secures $4 million contract with UK vehicle finance company

NETSOL Technologies has signed a new multi-million-dollar contract with a large independent used vehicle finance company in the UK. The UK contract will include the implementation of NETSOL's NFS Ascent wholesale finance platform and is expected to be worth $4 million. The name of the client is not being made public.

NETSOL secures $4 million contract with UK vehicle finance company

Jul 29, 2019

NETSOL Technologies has signed a new multi-million-dollar contract with a large independent used vehicle finance company in the UK. The UK contract will include the implementation of NETSOL's NFS Ascent wholesale finance platform and is expected to be worth $4 million. The name of the client is not being made public.

Strategies for sustainable growth after COVID-19

Agile strategies and a digital-first approach will continue to reshape the asset finance industry long after the COVID-19 crisis has subsided, according to industry experts. During an online seminar organised by the International Asset Finance Network, business leaders revealed how processes have been fundamentally change by the pandemic, with little chance of a return to historic business structures.Digitalisation has driven positive change in several ways, including reduced administration, quicker response times and improved customer service.

Strategies for sustainable growth after COVID-19

Nov 23, 2020

Agile strategies and a digital-first approach will continue to reshape the asset finance industry long after the COVID-19 crisis has subsided, according to industry experts. During an online seminar organised by the International Asset Finance Network, business leaders revealed how processes have been fundamentally change by the pandemic, with little chance of a return to historic business structures.Digitalisation has driven positive change in several ways, including reduced administration, quicker response times and improved customer service.

Connectivity to spark fleet revolution, says r2c Online, as Ford reveals connected fleet tools

The ability to gather information in real time provided by the increased data connectivity in electric trucks will offer significant operational advantages for fleet managers, forecasted r2c Online. According to the commercial vehicle compliance and maintenance software provider, the information available through connected vehicles could cover all major areas that affect operational fleet management – safety, maintenance, range, payload etc. If interrogated correctly, this form of data would result in much better-informed decisions being made.

Connectivity to spark fleet revolution, says r2c Online, as Ford reveals connected fleet tools

Nov 23, 2020

The ability to gather information in real time provided by the increased data connectivity in electric trucks will offer significant operational advantages for fleet managers, forecasted r2c Online. According to the commercial vehicle compliance and maintenance software provider, the information available through connected vehicles could cover all major areas that affect operational fleet management – safety, maintenance, range, payload etc. If interrogated correctly, this form of data would result in much better-informed decisions being made.

FICO reveals how to fight £15-26 billion of bounce back loan fraud

In a recent announcement, the UK National Audit Office (NAO) announced that the while the bounce back loan scheme succeeded in providing much needed cash injections into SMEs, the government now faces a potential loss of £15-£26 billion through businesses not being able to repay the loans and fraud.

FICO reveals how to fight £15-26 billion of bounce back loan fraud

Nov 17, 2020

In a recent announcement, the UK National Audit Office (NAO) announced that the while the bounce back loan scheme succeeded in providing much needed cash injections into SMEs, the government now faces a potential loss of £15-£26 billion through businesses not being able to repay the loans and fraud.

Use cases for Robotic Process Automation (RPA) in equipment and auto finance

Leading asset finance companies have revealed how Robotic Process Automation can make repetitive manual processes a thing of the past to improve business performance. The introduction of RPA can free staff from low-value manual tasks so they can focus their skills on generating business growth while improving customer loyalty and satisfaction. Speaking during an International Asset Finance Network Online seminar, sponsored by VIP Apps Consulting, industry leaders revealed how RPA could transform business performance.

Use cases for Robotic Process Automation (RPA) in equipment and auto finance

Nov 11, 2020

Leading asset finance companies have revealed how Robotic Process Automation can make repetitive manual processes a thing of the past to improve business performance. The introduction of RPA can free staff from low-value manual tasks so they can focus their skills on generating business growth while improving customer loyalty and satisfaction. Speaking during an International Asset Finance Network Online seminar, sponsored by VIP Apps Consulting, industry leaders revealed how RPA could transform business performance.

GrowCap launches its specialist resourcing business

As part of its continued expansion in supporting the Asset and Motor Financing sector, consulting and services firm GrowCap has launched a specialist recruitment arm, GrowCap Resourcing. In addition to offering the traditional search and selection service for permanent hires, GrowCap Resourcing is also very much focused on an increasing demand for interim staff and fulfilling specific project requirements.

GrowCap launches its specialist resourcing business

Nov 09, 2020

As part of its continued expansion in supporting the Asset and Motor Financing sector, consulting and services firm GrowCap has launched a specialist recruitment arm, GrowCap Resourcing. In addition to offering the traditional search and selection service for permanent hires, GrowCap Resourcing is also very much focused on an increasing demand for interim staff and fulfilling specific project requirements.

Mycardirect removes the “pain points” in new auto subscription model launch

Mycardirect has launched its innovative auto subscription plan at an opportune time. Opportune, because at a time of momentous change in the car industry the likelihood is that those trends that have been emerging gradually in the auto finance industry for some time will be propelled forward in short order. One of those trends that has been evolving slowly is the use of vehicles by subscription and mycardirect has, in its business model, moved the acquisition of cars by subscription finance forward significantly.

Mycardirect removes the “pain points” in new auto subscription model launch

Nov 02, 2020

Mycardirect has launched its innovative auto subscription plan at an opportune time. Opportune, because at a time of momentous change in the car industry the likelihood is that those trends that have been emerging gradually in the auto finance industry for some time will be propelled forward in short order. One of those trends that has been evolving slowly is the use of vehicles by subscription and mycardirect has, in its business model, moved the acquisition of cars by subscription finance forward significantly.

Ebbon Group set to develop new fleet products with innovation think tank

The fleet sector has recently been joined by a new think tank and product incubator named Ebbon Innovation (EI) with the aim of developing innovative new products and solutions to tackle issues facing the fleet community. EI is set to be focused on conducting research, experimentation and innovation in the fleet market, seeking to address the next real-world problems and turn them into open-market solutions.

Ebbon Group set to develop new fleet products with innovation think tank

Oct 27, 2020

The fleet sector has recently been joined by a new think tank and product incubator named Ebbon Innovation (EI) with the aim of developing innovative new products and solutions to tackle issues facing the fleet community. EI is set to be focused on conducting research, experimentation and innovation in the fleet market, seeking to address the next real-world problems and turn them into open-market solutions.

NETSOL deploys NFS Ascent® Retail Platform for major global auto captive in China

Global asset finance and leasing IT solutions provider NETSOL Technologies, has announced the successful implementation of its NFS Ascent® retail platform with a tier-one German auto captive finance company in China. According to NETSOL, the customer has a strong presence in China and the rest of the APAC region and the deployment marks the second phase of a $30 million (£23 million) contract.

NETSOL deploys NFS Ascent® Retail Platform for major global auto captive in China

Oct 26, 2020

Global asset finance and leasing IT solutions provider NETSOL Technologies, has announced the successful implementation of its NFS Ascent® retail platform with a tier-one German auto captive finance company in China. According to NETSOL, the customer has a strong presence in China and the rest of the APAC region and the deployment marks the second phase of a $30 million (£23 million) contract.

Alphera boasts 75% surge in digital car finance customers

According to Alphera Financial Services, some 75% more customers have begun using its online platform to sign and manage their motor finance agreements online in 2020, as the pandemic has incentivised digitalisation trends. With more than a quarter of the company’s UK customers currently managing their finance agreements online, there has also been a 67% monthly increase in the number of applications completed using its e-Retail platform since March.

Alphera boasts 75% surge in digital car finance customers

Oct 21, 2020

According to Alphera Financial Services, some 75% more customers have begun using its online platform to sign and manage their motor finance agreements online in 2020, as the pandemic has incentivised digitalisation trends. With more than a quarter of the company’s UK customers currently managing their finance agreements online, there has also been a 67% monthly increase in the number of applications completed using its e-Retail platform since March.

Adapting to a complex forbearance environment

As forbearance support in the UK enters its final month for applications, asset finance lenders are facing a more complex business environment. Current guidance on forbearance formally comes to an end on October 31, but finance customers have been helping companies to return to normal for months. Since the forbearance extension was announced in July, the focus has been on providing customers with a range of settlement options, only one of which is a payment deferral, to ensure arrangements meet their unique requirements.

Adapting to a complex forbearance environment

Oct 14, 2020

As forbearance support in the UK enters its final month for applications, asset finance lenders are facing a more complex business environment. Current guidance on forbearance formally comes to an end on October 31, but finance customers have been helping companies to return to normal for months. Since the forbearance extension was announced in July, the focus has been on providing customers with a range of settlement options, only one of which is a payment deferral, to ensure arrangements meet their unique requirements.