There is no denying it is a very interesting time to be involved in the automotive F&I marketplace.
Through regular contact with UK lenders, dealers and brokers to discuss the impact of the Financial Conduct Authority’s review into the motor finance sector, it is clear there is a great deal of internal discussion as how best to respond to the FCA’s report findings. Change is coming. However, a consensus on exactly what the revolution will look like, is yet to emerge.
Clearly, those lenders currently operating with conventional DiC and Reducing DiC commission models will need to adopt a new approach. They must also work with dealers and brokers to ensure that customers are provided with adequate and timely explanations.
May 07, 2019
There is no denying it is a very interesting time to be involved in the automotive F&I marketplace.
Through regular contact with UK lenders, dealers and brokers to discuss the impact of the Financial Conduct Authority’s review into the motor finance sector, it is clear there is a great deal of internal discussion as how best to respond to the FCA’s report findings. Change is coming. However, a consensus on exactly what the revolution will look like, is yet to emerge.
Clearly, those lenders currently operating with conventional DiC and Reducing DiC commission models will need to adopt a new approach. They must also work with dealers and brokers to ensure that customers are provided with adequate and timely explanations.
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DNB is strengthening its commitment to sustainable investments with an ambition to fund renewable energy and infrastructure projects worth $52 billion (NOK450 billion) by 2025.
In addition, it aims to finance green property development worth $15 billion (NOK130 billion) over the same period.
Rune Bjerke, group chief executive of DNB, said: “Some see the 'green shift' as a big risk, but we choose to look at it as an opportunity.
“We know that new winning industries will emerge both at sea and on land. We believe that infrastructure and renewable energy will be two such industries. They constitute great business opportunities for DNB if we manage to combine banking products with industry knowledge.”
May 03, 2019
DNB is strengthening its commitment to sustainable investments with an ambition to fund renewable energy and infrastructure projects worth $52 billion (NOK450 billion) by 2025.
In addition, it aims to finance green property development worth $15 billion (NOK130 billion) over the same period.
Rune Bjerke, group chief executive of DNB, said: “Some see the 'green shift' as a big risk, but we choose to look at it as an opportunity.
“We know that new winning industries will emerge both at sea and on land. We believe that infrastructure and renewable energy will be two such industries. They constitute great business opportunities for DNB if we manage to combine banking products with industry knowledge.”
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Business lenders White Oak UK and Spotcap are to work in partnership to improve access to finance for UK companies.
White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee.
The two companies will work on a mutual referral basis, recommending each other to support a larger number of businesses with a wider range of needs.
May 01, 2019
Business lenders White Oak UK and Spotcap are to work in partnership to improve access to finance for UK companies.
White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee.
The two companies will work on a mutual referral basis, recommending each other to support a larger number of businesses with a wider range of needs.
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Cambridge & Counties Bank (CCB) has reported strong demand for classic car finance after it entered the market last year.
It loaned £5.3 million to fund classic car acquisitions during 2018, exceeding business forecasts.
As part of its new venture, it became an official partner of the Federation of British Historic Vehicle Clubs (FBHVC), providing £10,000 in student bursaries to support the Federation’s Heritage Engineering apprenticeship scheme.
CCB reported record results overall last year, with total assets rising to £1.03 billion, up 17% year-on-year, while pre-tax profit increased 14% to £27.9 million. Loans and advances to customers increased from £690 million to £769 million.
May 03, 2019
Cambridge & Counties Bank (CCB) has reported strong demand for classic car finance after it entered the market last year.
It loaned £5.3 million to fund classic car acquisitions during 2018, exceeding business forecasts.
As part of its new venture, it became an official partner of the Federation of British Historic Vehicle Clubs (FBHVC), providing £10,000 in student bursaries to support the Federation’s Heritage Engineering apprenticeship scheme.
CCB reported record results overall last year, with total assets rising to £1.03 billion, up 17% year-on-year, while pre-tax profit increased 14% to £27.9 million. Loans and advances to customers increased from £690 million to £769 million.
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Aldermore, the specialist bank, has announced that Carl D’Ammassa, its group managing director for business finance, will leave the bank after five and a half years to become the new chief executive officer of White Oak UK.
D’Ammassa joined Aldermore in October 2013, having previously held the position of managing director of Hitachi Capital Business Finance.
He joined the Aldermore executive team in 2015 to lead the bank’s business finance operation and built a team that played a key role in the brand’s recent success.
His senior management role included being part of the team that successfully steered Aldermore through its acquisition by First Rand Group in 2018.
May 01, 2019
Aldermore, the specialist bank, has announced that Carl D’Ammassa, its group managing director for business finance, will leave the bank after five and a half years to become the new chief executive officer of White Oak UK.
D’Ammassa joined Aldermore in October 2013, having previously held the position of managing director of Hitachi Capital Business Finance.
He joined the Aldermore executive team in 2015 to lead the bank’s business finance operation and built a team that played a key role in the brand’s recent success.
His senior management role included being part of the team that successfully steered Aldermore through its acquisition by First Rand Group in 2018.
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Two key players in the Japanese automotive industry, Toyota Motor Corporation and DENSO Corporation, along with startup funder SoftBank Vision Fund (SVF), are to invest $1 billion in the advanced technologies division of ride-hailing giant Uber in a bid to speed up work on driverless cars.
The investment, in a newly-formed Advanced Technologies Group corporate entity, aims to accelerate the development and commercialization of automated ridesharing services.
Toyota and DENSO will together invest $667 million and SVF will invest $333 million, valuing the new Uber ATG entity at $7.25 billion.
May 01, 2019
Two key players in the Japanese automotive industry, Toyota Motor Corporation and DENSO Corporation, along with startup funder SoftBank Vision Fund (SVF), are to invest $1 billion in the advanced technologies division of ride-hailing giant Uber in a bid to speed up work on driverless cars.
The investment, in a newly-formed Advanced Technologies Group corporate entity, aims to accelerate the development and commercialization of automated ridesharing services.
Toyota and DENSO will together invest $667 million and SVF will invest $333 million, valuing the new Uber ATG entity at $7.25 billion.
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Strong first quarter for Mexican HGV sales
Nissan launches online sales in Mexico
Canada to outlaw petrol and diesel cars by 2040 as it launches EV grant scheme
Equipment finance could benefit from mirroring digital consumer services
