Quotevine launches new loan solution in response to urgent calls for support from SMEs

UK-based fintech cloud solutions provider Quotevine has developed a business process management package to help asset finance brokers respond to the heightened demand in the marketplace. Although High Street banks were able to pump £2 billion into the economy in just 24 hours at the start of the crisis to support big business, it became clear to Quotevine that the volume of applications from SMEs could overwhelm their systems, leading to applications being declined in error or payments delayed.

Quotevine launches new loan solution in response to urgent calls for support from SMEs

Jul 02, 2020

UK-based fintech cloud solutions provider Quotevine has developed a business process management package to help asset finance brokers respond to the heightened demand in the marketplace. Although High Street banks were able to pump £2 billion into the economy in just 24 hours at the start of the crisis to support big business, it became clear to Quotevine that the volume of applications from SMEs could overwhelm their systems, leading to applications being declined in error or payments delayed.

Bynx aims to drive increased productivity & new revenue opportunities for its customers with release 12.12

Bynx has launched release 12.12 of its flagship fleet, leasing and mobility management platform Bynx, which will be available to both existing and new customers as of July 2020. The new version builds on the industry’s drive away from data-centric paradigms to process oriented systems that deliver greater efficiency, productivity, flexibility and superior customer experience.

Bynx aims to drive increased productivity & new revenue opportunities for its customers with release 12.12

Jul 01, 2020

Bynx has launched release 12.12 of its flagship fleet, leasing and mobility management platform Bynx, which will be available to both existing and new customers as of July 2020. The new version builds on the industry’s drive away from data-centric paradigms to process oriented systems that deliver greater efficiency, productivity, flexibility and superior customer experience.

Singapore ride sharing app Ryde introduces bitcoin payments signalling the future of cryptocurrency

Ryde, a ride-sharing service provider operating in several large cities across the globe, has announced that its customers based in Singapore will now be able to pay for rides with bitcoin. The company’s users will be able to convert bitcoin into its own ‘RydeCoin’ with zero transaction costs, and in a single payment, customers are able to top up a digital wallet named ‘RydePay’ to a total of SGD999 ($716.46) in bitcoin to pay for rides.

Singapore ride sharing app Ryde introduces bitcoin payments signalling the future of cryptocurrency

Jun 29, 2020

Ryde, a ride-sharing service provider operating in several large cities across the globe, has announced that its customers based in Singapore will now be able to pay for rides with bitcoin. The company’s users will be able to convert bitcoin into its own ‘RydeCoin’ with zero transaction costs, and in a single payment, customers are able to top up a digital wallet named ‘RydePay’ to a total of SGD999 ($716.46) in bitcoin to pay for rides.

Auto Trader chooses Ebbon-Dacs software to manage new vehicle collection and delivery platform

Auto Trader is to manage all vehicle collections and deliveries on its new Vehicle Moves platform through Ebbon-Dacs’ moDel software. Around 300 logistics companies that currently access vehicle movements through the Auto Trader Vehicle Moves platform will automatically use moDel to record all vehicle deliveries and collections. Auto Trader Vehicle Moves handles around 10,000 vehicle movements per month on behalf of retail dealer groups wanting to move vehicles between different locations, as well as direct to end-user customers. Around 20% of the current volume is fleet, primarily with major leasing companies.

Auto Trader chooses Ebbon-Dacs software to manage new vehicle collection and delivery platform

Jun 24, 2020

Auto Trader is to manage all vehicle collections and deliveries on its new Vehicle Moves platform through Ebbon-Dacs’ moDel software. Around 300 logistics companies that currently access vehicle movements through the Auto Trader Vehicle Moves platform will automatically use moDel to record all vehicle deliveries and collections. Auto Trader Vehicle Moves handles around 10,000 vehicle movements per month on behalf of retail dealer groups wanting to move vehicles between different locations, as well as direct to end-user customers. Around 20% of the current volume is fleet, primarily with major leasing companies.

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.

TysonCooper launches fleet management service in partnership with ODO

Finance broker TysonCooper is launching new fleet management services after introducing the ODO platform from DRIVE Software Solutions. ODO provides a fleet management ecosystem to support the management of client fleets, which TysonCooper will use to underpin its expanded services.

TysonCooper launches fleet management service in partnership with ODO

Jun 24, 2020

Finance broker TysonCooper is launching new fleet management services after introducing the ODO platform from DRIVE Software Solutions. ODO provides a fleet management ecosystem to support the management of client fleets, which TysonCooper will use to underpin its expanded services.

Sofico and BattMobility launch electric car-sharing app

Fleet and mobility software provider Sofico has created a reservation app for electric vehicle sharing specialist BattMobility that customers can use to select, book and drive vehicles from a fleet of zero-emission cars, bikes or scooters. There is growing demand for software to manage mobility services amid the ongoing move from vehicle ownership to usership, which Sofico expects to become a key part of its product development programme. BattMobility provides mobility options for both private and business customers in the local community. Each vehicle has a fixed charging point and a community of ‘primary users’, typically four to six people, but it also remains accessible to other network members.

Sofico and BattMobility launch electric car-sharing app

Jun 18, 2020

Fleet and mobility software provider Sofico has created a reservation app for electric vehicle sharing specialist BattMobility that customers can use to select, book and drive vehicles from a fleet of zero-emission cars, bikes or scooters. There is growing demand for software to manage mobility services amid the ongoing move from vehicle ownership to usership, which Sofico expects to become a key part of its product development programme. BattMobility provides mobility options for both private and business customers in the local community. Each vehicle has a fixed charging point and a community of ‘primary users’, typically four to six people, but it also remains accessible to other network members.

Evezy plans future growth for electric vehicle subscription service

Electric vehicle specialist Evezy aims to reshape the auto finance market with a dedicated subscription service that is geared up for future growth once the lockdown caused by the COVID-19 pandemic is lifted. The company already has a fleet of more than 1,000 vehicles and stakes a claim as the UK’s largest EV provider with its service, which offers an alternative to ownership or leasing for customers. Subscription services are a key part of the growth in servitisation in auto finance, with customers signing up for access to a vehicle without a long-term commitment.

Evezy plans future growth for electric vehicle subscription service

May 11, 2020

Electric vehicle specialist Evezy aims to reshape the auto finance market with a dedicated subscription service that is geared up for future growth once the lockdown caused by the COVID-19 pandemic is lifted. The company already has a fleet of more than 1,000 vehicles and stakes a claim as the UK’s largest EV provider with its service, which offers an alternative to ownership or leasing for customers. Subscription services are a key part of the growth in servitisation in auto finance, with customers signing up for access to a vehicle without a long-term commitment.

Synergy Car Leasing partners with ODO to launch fleet management service

Synergy Car Leasing is introducing the ODO fleet management platform to its business to provide an extended range of services to customers. Under the agreement, Synergy will be able to offer an end-to-end fleet management service that complements its award-winning broker offering. ODO is part of DRIVE Software Solutions, a leading provider of fleet management technology for the leasing, broker and dealer sectors.

Synergy Car Leasing partners with ODO to launch fleet management service

Jun 08, 2020

Synergy Car Leasing is introducing the ODO fleet management platform to its business to provide an extended range of services to customers. Under the agreement, Synergy will be able to offer an end-to-end fleet management service that complements its award-winning broker offering. ODO is part of DRIVE Software Solutions, a leading provider of fleet management technology for the leasing, broker and dealer sectors.

Major US equipment supplier set to benefit from Innovation Finance’s QuickFi software

Innovation Finance USA has formed a partnership with Johnson Controls for the use of its equipment lending software, QuickFi. Johnson Controls is a US-based provider of HVAC (heating, ventilation and air conditioning) systems as well as fire detection and energy storage units. QuickFi enables business equipment purchasers to originate and complete fixed-rate, term equipment financing transactions in a time period of “only three minutes”.

Major US equipment supplier set to benefit from Innovation Finance’s QuickFi software

Jun 18, 2020

Innovation Finance USA has formed a partnership with Johnson Controls for the use of its equipment lending software, QuickFi. Johnson Controls is a US-based provider of HVAC (heating, ventilation and air conditioning) systems as well as fire detection and energy storage units. QuickFi enables business equipment purchasers to originate and complete fixed-rate, term equipment financing transactions in a time period of “only three minutes”.

Hitachi Capital reports 400% increase in digital ID verification as it accelerates financial support during Coronavirus crisis

Remote identity verification has become a critical element in supporting finance company efforts to keep funds flowing during the Coronavirus crisis. Among the companies seeing a massive increase in use of the technology is Hitachi Capital, which experienced a 400% increase in demand for remote identity verification in the first four weeks of lockdown. Its use of the Nomidio remote identity verification service was originally designed to support the finance company’s direct channel, but since the virus outbreak began in March, remote ID checks were rolled out for Hitachi Capital’s much larger indirect business, where loans are arranged via brokers and other introducers.

Hitachi Capital reports 400% increase in digital ID verification as it accelerates financial support during Coronavirus crisis

Jun 13, 2020

Remote identity verification has become a critical element in supporting finance company efforts to keep funds flowing during the Coronavirus crisis. Among the companies seeing a massive increase in use of the technology is Hitachi Capital, which experienced a 400% increase in demand for remote identity verification in the first four weeks of lockdown. Its use of the Nomidio remote identity verification service was originally designed to support the finance company’s direct channel, but since the virus outbreak began in March, remote ID checks were rolled out for Hitachi Capital’s much larger indirect business, where loans are arranged via brokers and other introducers.

Automotive Software Solutions buys majority share in Clear Vehicle Data

Digital specialist Automotive Software Solutions has acquired a majority share in Clear Vehicle Data. Clear Vehicle Data provides information services for systems, websites and apps in the automotive industry, including fleets, leasing and rental companies, dealer groups and media firms. Its services include data on new vehicles and on all registered vehicles, along with information on maintenance costs, residual values and wholelife costs. The acquisition brings additional expertise and insight to Automotive Software Solutions’ range of services to support future business expansion.

Automotive Software Solutions buys majority share in Clear Vehicle Data

Jun 13, 2020

Digital specialist Automotive Software Solutions has acquired a majority share in Clear Vehicle Data. Clear Vehicle Data provides information services for systems, websites and apps in the automotive industry, including fleets, leasing and rental companies, dealer groups and media firms. Its services include data on new vehicles and on all registered vehicles, along with information on maintenance costs, residual values and wholelife costs. The acquisition brings additional expertise and insight to Automotive Software Solutions’ range of services to support future business expansion.

Used car retail pricing in good health following lockdown, argues Cazana

The UK used vehicle market saw sales levels drop by around 80% during the lockdown, as dealers closed their doors and turned to online sales to encourage business. According to automotive insight provider Cazana, the retail price increased for all but diesel-powered used cars, and the price decline for diesel cars came in the high mileage ex-fleet vehicle profile. This can be seen in the chart below, which tracks the retail price movement from March 23 to May 25.

Used car retail pricing in good health following lockdown, argues Cazana

Jun 10, 2020

The UK used vehicle market saw sales levels drop by around 80% during the lockdown, as dealers closed their doors and turned to online sales to encourage business. According to automotive insight provider Cazana, the retail price increased for all but diesel-powered used cars, and the price decline for diesel cars came in the high mileage ex-fleet vehicle profile. This can be seen in the chart below, which tracks the retail price movement from March 23 to May 25.

Propel drives new business expansion with ASPIRE platform from LTi Technology Solutions

Asset finance software solutions provider LTi Technology Solutions, an international provider of asset finance software solutions, is introducing its ASPIRE cloud-based system to Propel, one of the UK’s largest independent finance houses. Using the technology enables Propel to drive operational efficiencies and meet future growth objectives. Propel, formerly Henry Howard Finance Group, will automate core business processes and improve decision-making through real-time insights and reporting.

Propel drives new business expansion with ASPIRE platform from LTi Technology Solutions

Jun 11, 2020

Asset finance software solutions provider LTi Technology Solutions, an international provider of asset finance software solutions, is introducing its ASPIRE cloud-based system to Propel, one of the UK’s largest independent finance houses. Using the technology enables Propel to drive operational efficiencies and meet future growth objectives. Propel, formerly Henry Howard Finance Group, will automate core business processes and improve decision-making through real-time insights and reporting.

European Startup Prize for Mobility announces 50 finalists in 2020

The European Startup Prize for Mobility (EUSP), an accelerator scheme for startups focused on developing sustainable mobility innovations, has revealed the names of the 50 finalists in its latest programme. This year’s launch initially received 550 applications from across Europe, and the organisation’s panel of 50 evaluators proceeded to whittle the list down, with the results giving an overview of the future of mobility. The EUSP is a joint venture run by the European Parliament’s Transport and Tourism Committee, Boston Consulting Group and Via ID that invites mobility startups from around Europe to submit ideas for the future of transport.

European Startup Prize for Mobility announces 50 finalists in 2020

Jun 10, 2020

The European Startup Prize for Mobility (EUSP), an accelerator scheme for startups focused on developing sustainable mobility innovations, has revealed the names of the 50 finalists in its latest programme. This year’s launch initially received 550 applications from across Europe, and the organisation’s panel of 50 evaluators proceeded to whittle the list down, with the results giving an overview of the future of mobility. The EUSP is a joint venture run by the European Parliament’s Transport and Tourism Committee, Boston Consulting Group and Via ID that invites mobility startups from around Europe to submit ideas for the future of transport.