Aston Barclay moves up a gear in drive to reshape vehicle remarketing sector

Remarketing companies play a critical role in the asset finance journey, underpinning the profitability of millions of leasing deals each year by extracting the maximum residual value from an asset at the end of a contract. The sector is seen as a perfect platform for digital innovation, but for executives at fast-expanding UK vehicle remarketing company Aston Barclay, the focus is on balancing change with tradition in delivering their vision for the future of the industry. Alongside extensive investment in smartphone apps, sophisticated digital services and websites, it is creating a growing nationwide network of physical auction centres around the country.

Aston Barclay moves up a gear in drive to reshape vehicle remarketing sector

Jan 16, 2019

Remarketing companies play a critical role in the asset finance journey, underpinning the profitability of millions of leasing deals each year by extracting the maximum residual value from an asset at the end of a contract. The sector is seen as a perfect platform for digital innovation, but for executives at fast-expanding UK vehicle remarketing company Aston Barclay, the focus is on balancing change with tradition in delivering their vision for the future of the industry. Alongside extensive investment in smartphone apps, sophisticated digital services and websites, it is creating a growing nationwide network of physical auction centres around the country.

Financial institutions “to be transformed into IT businesses within 10 years”

Finance professionals are predicting radical market changes as financial institutions are transformed into IT businesses within a decade. According to a survey of more than 1,000 finance professionals, many executives are already finding the speed of change so rapid that they find it hard to keep pace. The Onguard FinTech Barometer revealed that although the vast majority of professionals in financial services believe that their current employer will still exist in ten years' time (74%), 47% anticipate that new technologies, such as robotization and digitalisation, will result in far fewer jobs in the financial sector.

Financial institutions “to be transformed into IT businesses within 10 years”

Jan 10, 2019

Finance professionals are predicting radical market changes as financial institutions are transformed into IT businesses within a decade. According to a survey of more than 1,000 finance professionals, many executives are already finding the speed of change so rapid that they find it hard to keep pace. The Onguard FinTech Barometer revealed that although the vast majority of professionals in financial services believe that their current employer will still exist in ten years' time (74%), 47% anticipate that new technologies, such as robotization and digitalisation, will result in far fewer jobs in the financial sector.

Volkswagen targets €1bn revenue from connected car services

Vehicle manufacturer Volkswagen is creating a cloud-based marketplace to sell extra vehicle functions and online services that could generate revenues of more than €1 billion by 2025. It wants to connect its entire fleet to the digital service so drivers – and eventually autonomous vehicle passengers – will be able to source services while on the move. Proposed services will range from parking to deliveries and car sharing.

Volkswagen targets €1bn revenue from connected car services

Jan 09, 2019

Vehicle manufacturer Volkswagen is creating a cloud-based marketplace to sell extra vehicle functions and online services that could generate revenues of more than €1 billion by 2025. It wants to connect its entire fleet to the digital service so drivers – and eventually autonomous vehicle passengers – will be able to source services while on the move. Proposed services will range from parking to deliveries and car sharing.

Linedata expands services with acquisition of Loansquare

Global technology solutions and services company Linedata has acquired French digital lending platform Loansquare. Loansquare is a start-up that provides a solution for setting up and managing commercial loans and streamlining exchanges between borrowers and financial institutions.

Linedata expands services with acquisition of Loansquare

Jan 08, 2019

Global technology solutions and services company Linedata has acquired French digital lending platform Loansquare. Loansquare is a start-up that provides a solution for setting up and managing commercial loans and streamlining exchanges between borrowers and financial institutions.

Financial institutions in search for talent to drive digitalisation initiatives

More than half of financial institutions have difficulty recruiting the right people to support work on Open Banking initiatives. Software development, data analysis, API product management and business operations are the areas where skills are most lacking, companies say. The findings come from Fiserv, a global provider of financial services technology solutions, which spoke to more than 400 executives in Australia, France, Poland and the UK representing retail banks with asset values of up to $300 billion.

Financial institutions in search for talent to drive digitalisation initiatives

Jan 08, 2019

More than half of financial institutions have difficulty recruiting the right people to support work on Open Banking initiatives. Software development, data analysis, API product management and business operations are the areas where skills are most lacking, companies say. The findings come from Fiserv, a global provider of financial services technology solutions, which spoke to more than 400 executives in Australia, France, Poland and the UK representing retail banks with asset values of up to $300 billion.

New wholesale finance floorplanning software goes live at Macquarie Leasing Australia

Macquarie Leasing Australia has introduced Apak Group’s Wholesale Finance Solution, WFSv6. The wholesale finance software solution is designed to be adaptable to quickly meet the changing needs of clients and their floorplan customers. James Powell, executive vice-president, Apak Group, said: “We are delighted to have successfully implemented WFSv6 with Macquarie Leasing and look forward to facilitating their customer-focused relationships.”

New wholesale finance floorplanning software goes live at Macquarie Leasing Australia

Jan 07, 2019

Macquarie Leasing Australia has introduced Apak Group’s Wholesale Finance Solution, WFSv6. The wholesale finance software solution is designed to be adaptable to quickly meet the changing needs of clients and their floorplan customers. James Powell, executive vice-president, Apak Group, said: “We are delighted to have successfully implemented WFSv6 with Macquarie Leasing and look forward to facilitating their customer-focused relationships.”

Car subscription company Fair raises $385 million in new funding round led by SoftBank

Fintech start-up Fair has raised $385 million in its latest funding round, led by SoftBank, which will enable global expansion of its vehicle subscription business. SoftBank has investments in a number of disruptive businesses in the automotive sector, including Uber, China’s Didi Chuxing and south-east Asia’s biggest ride-hailing firm Grab.

Car subscription company Fair raises $385 million in new funding round led by SoftBank

Dec 21, 2018

Fintech start-up Fair has raised $385 million in its latest funding round, led by SoftBank, which will enable global expansion of its vehicle subscription business. SoftBank has investments in a number of disruptive businesses in the automotive sector, including Uber, China’s Didi Chuxing and south-east Asia’s biggest ride-hailing firm Grab.

Shared knowledge vital to tackling cyber-crime in financial sector

Cyber attacks on financial institutions are becoming increasingly frequent, so organisations must invest in continuous development of protection against threats, including shared knowledge, experts warn. The danger is that current developments in security may create an overly-optimistic view in the financial sector, which could lead to a spike in data breaches in future, warns Vyacheslav Kasimov, director for information security at Credit Bank of Moscow.

Shared knowledge vital to tackling cyber-crime in financial sector

Dec 14, 2018

Cyber attacks on financial institutions are becoming increasingly frequent, so organisations must invest in continuous development of protection against threats, including shared knowledge, experts warn. The danger is that current developments in security may create an overly-optimistic view in the financial sector, which could lead to a spike in data breaches in future, warns Vyacheslav Kasimov, director for information security at Credit Bank of Moscow.

Nordic Finance partners with Tieto to disrupt leasing market

Swedish leasing broker Nordic Finance is expanding into asset finance with a focus on digitalisation and automation in partnership with software and services company Tieto. Nordic Finance, one of Sweden's fastest growing financial companies, will launch its asset finance offering at the end of Q1 2019 and expects to have reached SEK1.5 billion (€146 million) in funding by the end of the year, expanding to SEK6 billion (€582 million) by the end of 2022. A core part of its growth plan will be the Emric leasing platform from Tieto, with which it aims to disrupt conventional processes and provide a smoother customer experience, through digitalisation and automation.

Nordic Finance partners with Tieto to disrupt leasing market

Dec 13, 2018

Swedish leasing broker Nordic Finance is expanding into asset finance with a focus on digitalisation and automation in partnership with software and services company Tieto. Nordic Finance, one of Sweden's fastest growing financial companies, will launch its asset finance offering at the end of Q1 2019 and expects to have reached SEK1.5 billion (€146 million) in funding by the end of the year, expanding to SEK6 billion (€582 million) by the end of 2022. A core part of its growth plan will be the Emric leasing platform from Tieto, with which it aims to disrupt conventional processes and provide a smoother customer experience, through digitalisation and automation.

EE brings power of big data and connected cars to UK SMEs

EE, part of BT Group, one of the world’s biggest communications companies, is targeting millions of UK SMEs with a new connected car service that goes live this week. EE Auto Mate uses a plug-in telematics device combined with the BT Group’s ‘big data’ analysis capabilities to provide automated, cost-effective insights to companies about vehicle use and performance.

EE brings power of big data and connected cars to UK SMEs

Dec 12, 2018

EE, part of BT Group, one of the world’s biggest communications companies, is targeting millions of UK SMEs with a new connected car service that goes live this week. EE Auto Mate uses a plug-in telematics device combined with the BT Group’s ‘big data’ analysis capabilities to provide automated, cost-effective insights to companies about vehicle use and performance.

Aston Barclay develops industry-first Alexa-based auction briefing

UK remarketing company Aston Barclay has developed a new auction briefing service for users of Alexa, the cloud-based digital assistant from online retail giant Amazon. Customers can obtain details of the UK auction company’s programme by asking the digital assistant for a ‘flash briefing’, after setting up the auction alerts feature. Alexa will automatically announce auction activity at key sites over the next 24 hours either via the Amazon Echo smart speaker or via smartphone when the Alexa app is installed. Aston Barclay believes the innovation is a first in the remarketing industry.

Aston Barclay develops industry-first Alexa-based auction briefing

Dec 10, 2018

UK remarketing company Aston Barclay has developed a new auction briefing service for users of Alexa, the cloud-based digital assistant from online retail giant Amazon. Customers can obtain details of the UK auction company’s programme by asking the digital assistant for a ‘flash briefing’, after setting up the auction alerts feature. Alexa will automatically announce auction activity at key sites over the next 24 hours either via the Amazon Echo smart speaker or via smartphone when the Alexa app is installed. Aston Barclay believes the innovation is a first in the remarketing industry.

Finance group 1pm plans business expansion following fintech partnership with Quotevine

A strategic plan to create a single vision from a portfolio of separate businesses has prompted a major investment in technology at UK finance company 1pm. The AIM-listed business (the name is derived from ‘one payment monthly’) has grown significantly in recent years following a series of acquisitions covering asset finance, invoice finance, loans and vehicle finance. In addition to One pm Finance, its brands include Academy Leasing (acquired in 2015), Bradgate Business Finance (acquired in 2016); and several businesses acquired in 2017, Positive Cashflow Finance, Gener8 Finance, Intelligent Loans and Car Finance 2U.

Finance group 1pm plans business expansion following fintech partnership with Quotevine

Nov 12, 2018

A strategic plan to create a single vision from a portfolio of separate businesses has prompted a major investment in technology at UK finance company 1pm. The AIM-listed business (the name is derived from ‘one payment monthly’) has grown significantly in recent years following a series of acquisitions covering asset finance, invoice finance, loans and vehicle finance. In addition to One pm Finance, its brands include Academy Leasing (acquired in 2015), Bradgate Business Finance (acquired in 2016); and several businesses acquired in 2017, Positive Cashflow Finance, Gener8 Finance, Intelligent Loans and Car Finance 2U.

Funding Options pioneers use of Open Banking to source finance for small business

A beauty salon in Kent, UK, is one of the first businesses to successfully source a small business loan using Open Banking data. The company, which hasn’t been named, sourced £10,000 via Funding Options, the loan comparison marketplace for small business lending, with the process taking less than 90 minutes from application to approval.

Funding Options pioneers use of Open Banking to source finance for small business

Nov 26, 2018

A beauty salon in Kent, UK, is one of the first businesses to successfully source a small business loan using Open Banking data. The company, which hasn’t been named, sourced £10,000 via Funding Options, the loan comparison marketplace for small business lending, with the process taking less than 90 minutes from application to approval.