Making finance sourcing as simple as booking a flight

Innovative finance company iwoca is bringing radical change to the way small businesses source funding with its new digital platform. The tech-enabled lender was developed by chief executive officer Christoph Rieche after he saw how much SME’s struggled to obtain finance when they needed it because banks were reluctant to lend or tied them up in paperwork. In response, iwoca used digitalisation and new technology to drastically reduce the administration involved in sourcing finance, so now an SME can obtain a loan using a digital device in a matter of minutes. Rieche said: “Part of our mission is to make it as simple as booking a flight ticket, which really brings us to the DNA of the company; we see ourselves much more as a technology company than a bank or finance company.” You can see how the process works in this exclusive video, provided courtesy of global automotive, consumer and equipment finance software company White Clarke Group.

Making finance sourcing as simple as booking a flight

Mar 19, 2019

Northridge Finance achieves lending record following Marshall Leasing acquisition

Northridge Finance achieved record results last year as all areas of the newly-expanded business grew strongly. New asset finance lending leapt 31% to £1.1 billion, in part powered by Marshall Leasing in its first full year as part of Northridge. Marshall Leasing’s funded fleet grew by 16% to 8,000 vehicles last year.

Northridge Finance achieves lending record following Marshall Leasing acquisition

Mar 18, 2019

Partnership approach proves critical as IGF agrees £7.5m funding deal with SES Holdings Group

SES Holdings Group, one of the UK's leading railway and civil engineering providers, has secured £7.5 million in funding from Independent Growth Finance (IGF). The deal was agreed after negotiations between SES and a previous supplier broke down when the engineering company needed a rapid, bespoke solution to resolve a cashflow issue and overhaul its financial structure.

Partnership approach proves critical as IGF agrees £7.5m funding deal with SES Holdings Group

Mar 18, 2019

Arval prioritises digital focus as it targets growth with fleets and consumers

Global leasing giant Arval is focusing on digital innovation as a key driver of growth this year to build on the successful introduction of services in 2018. The company said that it would use insights from its data to develop new services, reflecting the success of its digital solution Arval for Me, launched last year. It provides customers in Italy and Spain with a database of information and value-added services that has attracted 12,000 members.

Arval prioritises digital focus as it targets growth with fleets and consumers

Mar 18, 2019

Act-On Software produces strategic guidance for clients

Marketing automation platform Act-On Software has launched new strategic guidance for its financial services clients. The guidance aims to help them maximise return on investment from marketing campaigns and reduce administration.

Act-On Software produces strategic guidance for clients

Mar 18, 2019

Jigsaw Finance upbeat about prospects following FCA announcement on motor finance

The recent Financial Conduct Authority (FCA) announcement on motor finance is set to challenge the traditional commission model, but any changes will be positive for the industry, according to executives at motor finance broker Jigsaw Finance. The FCA is seeking a higher level of transparency, which could lead to changes in the way commission payments are arranged and managed. Mel White (pictured), Jigsaw Finance’s business development director, said: “We have multiple product options from a portfolio of lenders to match a product to a customer’s needs and importantly we have direct access to the customer to help establish these needs and affordability parameters. It is a role we take very seriously.”

Jigsaw Finance upbeat about prospects following FCA announcement on motor finance

Mar 15, 2019

Founder of Zopa urges leaders at inaugural Leasing Foundation tech innovation debate to challenge the status quo

Leasing leaders have been urged to challenge the status quo and actively search for new business ideas as they define the future of finance, during a new forum designed to inspire innovation in the industry. James Alexander (pictured), co-founder of disruptive finance company Zopa, the world’s first peer-to-peer lender, said executives needed a single-minded drive to see ideas succeed. Speaking at the inaugural Leasing Foundation Innovation Initiative breakfast debate, he added that perspective is critical. “If you stand in the present and look forward, you can just see barriers and obstacles; if you stand in the future and look back, it becomes apparent what has to change,” he said.

Founder of Zopa urges leaders at inaugural Leasing Foundation tech innovation debate to challenge the status quo

Mar 15, 2019

Mining data: how successful is the asset finance industry at striking gold?

Changing customer expectations are reshaping the asset finance industry. As Jochen Jehmlich, CEO, Societe Generale Equipment Finance (SGEF), points out, the key trend is a strong move away from traditional acquisition of equipment towards a usage and service-based approach, supported by innovations in technology. Disruptive start-ups such as ride hailing service Uber have led the way on this, but the switch from a focus on owning equipment to wanting to pay for outcomes is spreading, facilitated by the use of data collected from connected devices as part of the Internet of Things (IoT). Having a network of devices fitted to equipment and vehicles allows vendors, users and lenders to connect, interact and exchange data.

Mining data: how successful is the asset finance industry at striking gold?

Feb 12, 2019

Call for leasing companies to look at blockchain

While most equipment leasing and finance executives believe blockchain technology is relevant and offers a competitive advantage, very few have acted on it, according to the findings of research by the Alta Group. The authors - Valerie Gerard and Shawn Halladay of Alta and Deborah Reuben, president of Reuben Creative, advise organisations that they should be learning more now and working together to take advantage of the benefits blockchain. Gerard said: “Blockchain is here, and the industry leaders needs to be proactive in deciding whether or not to adopt what’s looking like a revolutionizing technology.

Call for leasing companies to look at blockchain

Mar 15, 2019

Lyft hails public flotation

Lyft hails public flotationSan Francisco-based ride-hailing app Lyft is set to become the first of the new mobility companies to go public, and has filed for an IPO. Lyft, which was founded in 2012, operates in more than 300 cities in the US and Canada. Its number of active users has climbed to 18.6m in the past two-and-a-half year, while revenues doubled last year to $2.16bn.

Lyft hails public flotation

Mar 15, 2019

Alfa targets global growth amid focus on trusted partnerships with customers and suppliers

Financial software company Alfa has reported an increase in the number of customers requesting complex multi-country implementations of its systems and broader demand for cloud services that drive business efficiencies. While this means customer decision-making is becoming more complex, it also reflects the increasing value placed on trusted software suppliers that can manage complex international requirements as part of a focus on long-term partnerships, according to the company’s CEO Andy Denton.

Alfa targets global growth amid focus on trusted partnerships with customers and suppliers

Mar 12, 2019

BVRLA annual dinner honours Brian Back with lifetime achievement award

The British Vehicle Rental and Leasing Association has recognised the outstanding contribution to the industry of Brian Back with a major award. He received the inaugural Freddie Aldous Lifetime Achievement Award during its annual dinner in London. The award is named in honour of the BVRLA’s honorary life president, who passed away in 2017. Back (pictured centre with Judie Jones, left) has held a range of leadership positions in some of leading companies in the leasing industry, chaired a number of BVRLA committees and spent more than 20 years on the association’s board. He has also spent more than a decade on the board of industry charity BEN.

BVRLA annual dinner honours Brian Back with lifetime achievement award

Mar 12, 2019

Why the FCA’s consumer car finance review could change asset finance broking

Last week’s announcement by the FCA of the final findings of its long-running car finance review could have significant implications across the indirect channels of the asset finance market, and not only for regulated agreements. Here are three reasons why: 1. Lenders may have to conduct regular compliance checks on introducers In my view the biggest impact of the FCA’s report has attracted relatively little attention.

Why the FCA’s consumer car finance review could change asset finance broking

Mar 12, 2019

Sixt launches global mobility strategy powered by new smartphone app

Sixt has launched a new smartphone app offering vehicle rental, car sharing and taxi/transfer services on a single platform as part of its strategic expansion to become a global mobility services provider. Sixt claims the app, called One, is the first integrated mobility platform in the world and can be used to book its services along with a range of affiliated partners, so customers have access to 240,000 vehicles, 1,500 mobility suppliers and more than one million drivers. In a key development, Sixt’s own connected car fleet will become multi-use, so vehicles can be used either for car sharing or rental.

Sixt launches global mobility strategy powered by new smartphone app

Mar 12, 2019

UK asset finance market up by 9% in January

Asset finance new business (primarily leasing and hire purchase) grew by 9% in January, compared with the same month last year, according to new figures from the Finance and Leasing Association. The strongest new business growth came from the plant and machinery finance and IT equipment finance sectors, which rose 26% and 45% respectively, compared to the same month in 2018. Over the same period, commercial vehicle finance increased by 21%.

UK asset finance market up by 9% in January

Mar 08, 2019

Charity Bank partners with Apak Group to support its core banking platform

Apak Group, the Sopra Banking Software company, has been chosen as a preferred supplier for Charity Bank’s new core banking platform. Charity Bank is an ethical bank that uses its savers’ deposits to lend to charities and social enterprises. It has issued more than £250 million in loans over nearly two decades. The bank will use Apak’s Aurius banking platform to support management of funds and lending support.

Charity Bank partners with Apak Group to support its core banking platform

Mar 08, 2019

International Decision Systems rebrands as IDS

International Decision Systems (IDS), the global provider of technology solutions for asset and equipment finance, has changed its name to IDS. The change includes a new website that focuses on the company’s newest service, which is a Software as a Service (SaaS) solution using cloud-based technology.