Charity Bank replaces legacy core banking system with Apak Group software
Charity Bank replaces legacy core banking system with Apak Group softwareJul 15, 2019
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NETSOL completes acquisition of Virtual Lease ServicesSoftware solutions provider NETSOL Technologies has completed its acquisition of portfolio and risk management service company Virtual Lease Services (VLS). NETSOL has acquired the final 49% of the business after initially investing in a 51% stake in 2011, as part of a joint venture with banking and asset management group, Investec. VLS is a UK-based portfolio and risk management servicing partner for a range of business and consumer finance providers in the industry. It provides a back-office solution supporting complex, middle and large ticket leases, SME instalment credit, and consumer loans, with nearly £500 million receivables under management.
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IDS asset finance technology supports customer service development at Diversified Financial ServicesUS equipment finance provider Diversified Financial Services (DFS) has introduced two asset finance solutions from global technology provider IDS to support business growth. DFS selected the IDS InfoLease portfolio management system and the IDS Rapport origination platform. Headquartered in Nebraska, DFS provides retail financing, leasing, and insurance programs for the agricultural industry.
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NETSOL completes acquisition of Virtual Lease Services
IDS asset finance technology supports customer service development at Diversified Financial ServicesUS car-buying platform Roadster expands into UKRoadster, the US e-commerce solutions provider for dealerships, has expanded into the UK market, with pilot programmes already underway with dealers. Asset Finance International's Miles Rogerson spoke to Rob Abrahams, UK lead for Roadster, to find out more about the company’s expansion plans and how it took inspiration from the fashion industry for its development.
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Chinese consumers embrace technology to power finance boomTechnologies that offer immediate access to buy-now-pay-later services are leading to a boom in demand for consumer finance in China as buyers maximise their spending power. For example, Wang Qianqian, a high school administrator in Shanghai, earns CHY6,000 ($871) a month, but still owns the new iPhone XS, which retails at around $1,000. Qianqian is a regular user of Huabei, a consumer credit service, that is spreading the cost of the phone over 24 monthly instalments. Qianqian’s views on borrowing reflect the changing attitudes of Chinese consumers: “Borrowing money is no longer a matter of survival but the financial awareness to enjoy life in advance. If you can get a loan, just get it."
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NFS Ascent Goes Live in JapanGlobal finance software solutions provider NETSOL Technologies has implemented its NFS Ascent wholesale finance system in Japan for a leading German auto captive. The launch marks the seventh country where it has successfully deployed the next-generation NFS Ascent system as part of a $110 Million, 12-country contract, originally signed in 2015. The contract includes implementations, licenses, maintenance, services and expected customisation fees for the deployment, which represents the largest contract in NETSOL’s history.
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NVM Private Equity invests £2.2m in QuotevineQuotevine, the provider of Software-as-a-Service solutions for the asset and automotive finance industries, has received £2.2 million in funding from private-equity firm, NVM. The UK based investors’ backing of Quotevine will support UK growth over the next three years and will be used to invest in developer and operations workforces as it expands. Quotevine helps asset and automotive finance companies modernise operations and create opportunities from disruptive technologies such as the Internet of Things and artificial intelligence.
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North Star Leasing powers growth with introduction of cloud-based software from IDSUS equipment finance company North Star Leasing has introduced a new software-as-a-service (SaaS) platform from asset finance and origination software provider IDS. The leasing business has been a customer of IDS since 1987 and the introduction of IDScloud makes it the software company’s first customer to migrate its on-premise InfoLease portfolio to the cloud-based system. IDScloud offers the full capability of the company’s Rapport origination and InfoLease portfolio management solutions along with integrations to an ecosystem of third-party services including credit bureaus, e-signature, CRM, sales tax, insurance and payments.
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iVendi moves closer to Europe with BDK dealIn February, Asset Finance International reported on e-commerce solutions provider iVendi’s first forays into the German motor finance industry. Now, James Tew, CEO of iVendi has spoken with AFI in an exclusive interview about their new deal with Bank Deutsches Kraftfahrzeuggewerbe. iVendi’s first international deal is a major one - a complete online marketplace for Hamburg-based Bank Deutsches Kraftfahrzeuggewerbe (BDK), a subsidiary of Société Générale. BDK, which serves around one-quarter of all car dealers in Germany, offers a product range including dealer financing, retail loans and retail leasing for new and used cars, along with insurance and warranty products.
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European Startup Prize for Mobility reveals 10 champions of change in transportThe second European Startup Prize for Mobility (EUSP) has revealed the 10 winning companies in its 2019 awards that are creating a new transport landscape for European travellers. Companies that received the prize in the presence of awards sponsor Prince Albert of Monaco ranged from e-cargo bike manufacturers to autonomous vehicle technology providers. The EUSP was launched by Karima Delli, chairwoman of the European Parliament Committee on Transport and Tourism, and co-founded by Boston Consulting Group and Via ID.
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Finaptix launches with a pledge of securing value for its customers’ technology investmentA new company, Finaptix, has been launched in the UK – headed by four highly-experienced software executives. The four co-founders, Steve Taplin, Michael Mayes, Lucy Matthews and Ralph Neuff, have the aim of working with asset and auto finance companies and assisting in navigating the software vendor marketplace - while at the same time providing leadership towards adopting digital technologies. The co-founders, who are all ex-Alfa Financial Software executives, will apply their extensive technology experience in selecting, initiating and delivering systems and business-change projects to provide value-focused products to their clients.
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Bynx new mobility management platform “paves the way for the mobility landscape of the future”Bynx has released v12.8 of its fleet and mobility management platform (also called Bynx). The new platform supports a number of important operational, legal and fiscal changes in various markets.
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Jaguar Land Rover expands circular economy programme to support future of shared electric vehiclesJaguar Land Rover is investing in a closed loop strategy for its vehicles to maximise recycling of materials into its next generation models. The REALITY project supports the circular economy by recovering aluminium from existing Jaguar and Land Rover vehicles and is being tested on early, pre-production prototypes of the Jaguar I-Pace electric vehicle.
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US car-buying platform Roadster expands into UK
Chinese consumers embrace technology to power finance boom
NFS Ascent Goes Live in Japan
NVM Private Equity invests £2.2m in Quotevine
North Star Leasing powers growth with introduction of cloud-based software from IDS
iVendi moves closer to Europe with BDK deal
European Startup Prize for Mobility reveals 10 champions of change in transport
Finaptix launches with a pledge of securing value for its customers’ technology investment
Bynx new mobility management platform “paves the way for the mobility landscape of the future”
Jaguar Land Rover expands circular economy programme to support future of shared electric vehicles