Leumi ABL completes £30m facility with Simply

Leumi ABL has provided a £30m revolving facility, a hybrid between a traditional block discounting facility and a warehouse facility, for asset finance specialists Simply. The deal will allow Simply to provide additional funding to small and medium-sized business across the country.

Leumi ABL completes £30m facility with Simply

Sep 22, 2021

Open Banking’s potential to enhance consumer access to credit hampered by lack of knowledge

Consumer understanding of the potential offered by Open Banking remains low, but there is substantial untapped demand for Open Banking to provide improved access to credit during and post the Covid-19 pandemic, according to research from digital bank Zopa.

Open Banking’s potential to enhance consumer access to credit hampered by lack of knowledge

Sep 22, 2021

Hitachi Capital Business Finance to rebrand as Novuna Business Finance

Hitachi Capital Business Finance is rebranding as Novuna Business Finance, meaning ‘new together’. The change in name follows the merger earlier in 2021 of Mitsubishi UFJ Lease and Finance Company Ltd and Hitachi Capital Corporation forming Mitsubishi HC Capital, one of the world’s largest and most diversified financial groups, and marks the next phase of growth for the business.

Hitachi Capital Business Finance to rebrand as Novuna Business Finance

Sep 21, 2021

Report reveals future path to profit for green asset finance

Asset finance companies will be key to the ambitions of world leaders who want to ‘build back better’ as part of the economic recovery from COVID-19, according to a report published today by the International Asset Finance Network. The new report, produced in association with global asset finance software specialist Alfa, is called ‘Sustainability and Servitisation: Building a path to profit for green asset finance’ and reveals that asset finance companies have a vital role to play as they will provide the funding that will trigger growth, but the operating environment is changing when it comes to customers, markets and legislation.

Report reveals future path to profit for green asset finance

Sep 06, 2021

Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

A new auto finance ecosystem is needed in which funders work with dealers and suppliers, including software providers, to build the processes and systems that support a digitalised, flexible finance journey for customers, according to a report published today by the International Asset Finance Network, in association with White Clarke Group (an IDS company). The report, called ‘Auto Finance Leaders Strategic Plan 2021’, reveals unique insights from auto finance industry leaders on the importance of changing the traditional business cycle to create products that drive revenue through renewal and long-term customer loyalty.

Auto Finance Leaders Strategic Plan 2021 – building lifetime customer value

Aug 18, 2021

FXE Technologies launches SmartFinanceHub for brokers

FXE Technologies has launched SmartFinanceHub, a digital tool designed to connect brokers and funders and provide tools and links to Open Banking. The SME specialist said the aim was to offer support as firms feel the pressure to “future proof” their operations and to address growing regulatory pressures.

FXE Technologies launches SmartFinanceHub for brokers

Sep 21, 2021

MotoNovo Finance MD Joins the Automotive 30% Club

MotoNovo Finance managing director Karl Werner has become the latest business leader to join the Automotive 30% Club, the voluntary network of managing directors and CEOs from UK based automotive manufacturing, retailing and supplier companies. In joining the senior executives who are members, Werner said he was signalling his commitment to supporting and encouraging diversity and inclusion across the business and to promoting the value of such an approach.

MotoNovo Finance MD Joins the Automotive 30% Club

Sep 17, 2021

Lee Thompson joins Falcon Group in global asset-as-a-service role

Falcon Group, a provider of inventory management working capital solutions, has appointed Lee Thompson to head up its global asset-as-a-service (AaaS) offering. Thompson joins from DLL where he was vice-president, pay-per-use solutions, with responsibility for Europe and Australasia.

Lee Thompson joins Falcon Group in global asset-as-a-service role

Sep 17, 2021

Cazoo expands reconditioning and logistics capability with SMH Fleet Solutions acquisition

UK online car retailer Cazoo has made a second acquisition following its recent debut on the New York stock exchange, paying £70m in cash to acquire SMH Fleet Solutions (SMH), one of the UK’s leading vehicle preparation, logistics and storage businesses. The deal sees Cazoo double its reconditioning and logistics capability and storage infrastructure.

Cazoo expands reconditioning and logistics capability with SMH Fleet Solutions acquisition

Sep 17, 2021

Why the asset finance ecosystem needs to collaborate to realise the potential of servitization

A new briefing paper from the International Asset Finance Network’s European equipment finance community takes a look at the strategic issues the sector needs to address as the focus pivots from asset ownership towards a service-based approach.

Why the asset finance ecosystem needs to collaborate to realise the potential of servitization

Sep 16, 2021

Holding assets for longer – towards a flexible future in auto finance

Empowered customers are driving a transformation at the heart of the auto finance industry. As customers look for more flexible solutions and OEMs search for revenue growth, captives will have to expand their product portfolio and evolve their traditional go-to-market model. There is growing interest within the auto finance industry in the opportunity to hold assets on the balance sheet for longer than their first life-stage and use that time to offer a range of innovative, flexible products.

Holding assets for longer – towards a flexible future in auto finance

Sep 13, 2021

IDS enters IDC FinTech Top 100 Rankings List

IDS, a leading provider of mission-critical enterprise solutions for secured finance, has been named one of the top 100 financial technology providers in the world, ranking 69th on the 2021 IDC FinTech Rankings. This is the first time IDS has been included in the annual vendor listing from IDC Financial Insights, which recognizes the world's leading hardware, software, and service providers to the financial services industry.

IDS enters IDC FinTech Top 100 Rankings List

Sep 14, 2021

Pandemic device crisis prompts demand for technology as-a-service

Changing working patterns as a result of Covid-19 are fuelling demand for new ownership models for IT in businesses of all sizes, according to a pan-European survey carried out by 3stepIT. While three-quarters of those polled reported IT was pivotal to their survival during the pandemic, there are growing concerns about the increased risks and environmental impact of dispersed workplaces. The research was conducted in July 2021 by OnePoll on behalf of 3stepIT and surveyed 1000 IT decision-makers (200 from each territory) from the UK, France, Germany, Sweden and Finland.

Pandemic device crisis prompts demand for technology as-a-service

Sep 13, 2021

James George Recruitment launches in asset finance market as vacancies soar to highest for a decade

Experienced asset finance recruitment expert Adam Sommerville has launched his own agency to support the financial services sector. James George Recruitment, named after his two sons, will specialise in sourcing roles for asset finance executives alongside those looking for employment in accounting, banking, and supporting roles throughout finance. As managing director, Sommerville (pictured right) he will work alongside talent acquisition partner Victoria Rua (pictured left) from their offices in North Essex, UK.

James George Recruitment launches in asset finance market as vacancies soar to highest for a decade

Sep 13, 2021

Sharon Bryden joins Time Finance in new role as director of commercial loans & ABL

Time Finance has named Sharon Bryden as director of commercial loans and asset based lending (ABL) with immediate effect. The newly created role reflects the firm’s commitment to delivering a market leading portfolio of funding solutions to UK businesses as they recover and grow.

Sharon Bryden joins Time Finance in new role as director of commercial loans & ABL

Sep 13, 2021

Asset finance market recovering but supply constraints remain an issue

New business volumes in the consumer car finance market fell 20% in July 2021 compared with the same month in 2020, while the value of new business decreased by 19%. new figures from the Finance & Leasing Association (FLA) have revealed. In the first seven months of 2021, new business volumes were 20% higher than in the same period last year.

Asset finance market recovering but supply constraints remain an issue

Sep 13, 2021

Sopra Banking Software invests in Sopra Financing Platform with the launch of the New Freehand Connect API

Sopra Banking Software has announced its Sopra Financing Platform (SFP) pricing engine, Freehand, which is widely regarded as a reference point for asset finance pricing engines in the UK asset finance industry, is now available as a software-as-a-service API. The new Freehand Connect API is currently live with a major asset finance lender.