Solving tomorrow’s barriers, today: Overcome the roadblocks in your asset finance programs
Solving tomorrow’s barriers, today: Overcome the roadblocks in your asset finance programsFeb 22, 2021
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Asset finance companies balance digital and manual processes to meet more complex customer needsIn 2021, asset finance companies will help to rebuild the global economy by kick-starting post-pandemic growth. The essential innovations of the past year have put digital at the heart of their operations and enabled companies to respond to the unprecedented demand they have faced. However, while digitalisation is transforming the speed at which some customers can be supported, the resource freed up by greater efficiency is allowing companies to provide a more personalised, supportive approach to those who need it.
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Ford looks to growth with new Google partnership to boost in-car connectivity and cloud servicesFord has announced a six-year partnership with Google to boost its in-vehicle connectivity, cloud computing and overall technology capabilities. The partnership is part of Ford’s $11 billion turnaround plan to restructure underperforming businesses within its automotive operations. The company has streamlined its operations, focusing more on key growth areas such as autonomous, electric and connected technologies.
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Onguard introduces machine learning to predict payment behaviourFintech 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.
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NETSOL secures $4 million contract with UK vehicle finance companyNETSOL 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.
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Asset finance companies balance digital and manual processes to meet more complex customer needs
Ford looks to growth with new Google partnership to boost in-car connectivity and cloud services
Onguard introduces machine learning to predict payment behaviour
NETSOL secures $4 million contract with UK vehicle finance companyGrowCap Resourcing expands its team as new roles demand new modes of recruitmentStuart Applewhite, former HR Director for White Oak UK, has joined GrowCap Resourcing, part of GrowCap Group. Welcoming Applewhite, Peter Hunt, MD of GrowCap Resourcing said: “Stuart’s knowledge of the industry and the experience he brings to the table will be invaluable to companies in our sector. Whether you are looking to outsource all or part of your HR functions or require support in areas such as induction of new recruits including development and delivery of training, we can offer a service tailored to meet your requirements.
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Automotive intelligence provider Autofutura acquires Chrysalis Loyalty to enhance services for finance providersAutofutura, the global business intelligence provider, has acquired Chrysalis Loyalty to expand its range of services to the automotive industry. Services across the two companies cover lead management, customer loyalty programmes, retention schemes, and risk management services. Chrysalis Loyalty has specialised in the retail sector, while Autofutura provides services to both fleet and retail. The newly-expanded business will be led by Autofutura’s chief executive officer Christian Erlandson.
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Arval launches raft of new services in Europe to boost sustainable mobilityArval Group, once of the world's biggest vehicle leasing and mobility solutions providers, has announced the launch of a new set of mobility services across Europe for its corporate clients in need of alternative mobility solutions for their employees. The new offering consists of three new solutions:
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How APIs drive a culture of innovation and growthApplication Programming Interfaces (APIs) may not be fundamentally new as a concept, but they are being used in innovative ways. As Martin Morris reports, gone are the days when they just enabled one application to ‘talk’ to another, usually within the same organisation.
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IDS reports record 20 ‘go-lives’ and launches pandemic-themed toolsAsset and equipment finance technology specialist IDS has reported a record 20 ‘go-lives’ – activation of its IT systems with clients – in 2020, as well as passing $36B of committed net asset value on its IDScloud platform. The company switched to remote implementation of its platforms during the pandemic to accommodate the greater number of employees working remotely, and launched a series of new services geared to assisting with issues related to Covid-19, which include:
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Arval UK targets personal leasing growth in partnership with Chinese tech giantMobility services provider Arval UK has teamed up with one of the world’s largest online car sales companies to offer personal leasing to consumers. The leasing company is working with YesAuto, the European arm of Autohome, which is the biggest online car sales portal in China, where it has an 80% market share and 750 million page views every day.
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Renault unveils Mobilize mobility brand with sustainability and the circular economy in mindGroupe Renault has announced the launch of a new mobility services subsidiary, Mobilize, to provide customers with sustainable forms of mobility as it targets carbon neutrality and promotes the circular economy. The venture aims to address changing sentiment towards sustainability and clean energy, and provide new ways of transporting people and goods by looking beyond the traditional use of cars.
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Re-molding leasing industry shapes: New trends, threats and possibilitiesAs financing comes as a supporting activity for the automotive and equipment manufacturing industries, asset finance software helps ease leasing operations and make them more efficient. Therefore, when the automotive or equipment industry goes through significant changes, for example, in purchasing models, it will create new financing models, affecting the development of leasing and asset finance software.
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NETSOL launches landing page to highlight their core and digital expertise within the auto finance industryAsset finance and leasing software provider, NETSOL Technologies, has unveiled a new landing page catered towards the automotive finance industry. Highlighting its numerous years of experience within the auto finance sector, NETSOL launched the page following the start-up landing page which was the first of the series. This can be accessed at the following link: https://netsoltech.com/startups/
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Auto finance firms not safe as Apple holds talks with Hyundai on EVs following banking breakthroughApple has entered talks with South Korean carmaker Hyundai, about forming a partnership centered around electric vehicles (EVs) and battery development. The possibility of a partnership between the two heralds the long-awaited arrival of large technology companies into the automotive industry. Whilst Apple declined to comment on the development, Hyundai’s statement may suggest that Apple is accelerating plans to launch a plug-in electric car.
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GrowCap Resourcing expands its team as new roles demand new modes of recruitment
Automotive intelligence provider Autofutura acquires Chrysalis Loyalty to enhance services for finance providers
Arval launches raft of new services in Europe to boost sustainable mobility
How APIs drive a culture of innovation and growth
IDS reports record 20 ‘go-lives’ and launches pandemic-themed tools
Arval UK targets personal leasing growth in partnership with Chinese tech giant
Renault unveils Mobilize mobility brand with sustainability and the circular economy in mind
Re-molding leasing industry shapes: New trends, threats and possibilities
NETSOL launches landing page to highlight their core and digital expertise within the auto finance industry
Auto finance firms not safe as Apple holds talks with Hyundai on EVs following banking breakthrough
