Digital transformation powers finance innovation in manufacturing sector

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Digital transformation powers finance innovation in manufacturing sector

May 22, 2018

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Safeguarding data is vital for sustainable digital financial services

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Safeguarding data is vital for sustainable digital financial services

May 21, 2018

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

New York dealership launches car subscription service

Keeler Motor Car Company, a New York state auto dealership, has moved into the vehicle subscription market with an alternative program to traditional vehicle purchases or leases. The service will allow drivers to "flip" between a wide selection of cars, SUVs, trucks and minivans.

New York dealership launches car subscription service

May 18, 2018

Keeler Motor Car Company, a New York state auto dealership, has moved into the vehicle subscription market with an alternative program to traditional vehicle purchases or leases. The service will allow drivers to "flip" between a wide selection of cars, SUVs, trucks and minivans.

Unleash the Iron Man in your auto finance customer service team

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

Unleash the Iron Man in your auto finance customer service team

May 17, 2018

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

 
 

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UK’s Bonfield to be CFO Caterpillar FS

Caterpillar financial services has hired a senior British executive, Andrew Bonfield, to be its next chief financial officer, taking over from Brad Halverson, who has retired. Bonfield, who joins the lender on September 1, brings more than three decades of financial expertise to the role, most recently serving as group CFO and board member of UK power network provider National Grid.

UK’s Bonfield to be CFO Caterpillar FS

May 18, 2018

Caterpillar financial services has hired a senior British executive, Andrew Bonfield, to be its next chief financial officer, taking over from Brad Halverson, who has retired. Bonfield, who joins the lender on September 1, brings more than three decades of financial expertise to the role, most recently serving as group CFO and board member of UK power network provider National Grid.

AF50 UK reveals strong growth in asset finance market

The total net investment of the UK’s biggest asset finance firms has increased by nearly £3 billion, according to the 2018 AF50. The AF50, the UK’s most influential annual survey of business and equipment lessors, shows market growth of 8.3% as total net investment has risen to £37.1 billion from £34.2 billion, according to this year’s study. The AF50, sponsored by Alfa, is published by Asset Finance International and prepared by Asset Finance Policy’s director Julian Rose, the author of the A to Z of Asset Finance and Leasing.

AF50 UK reveals strong growth in asset finance market

May 17, 2018

The total net investment of the UK’s biggest asset finance firms has increased by nearly £3 billion, according to the 2018 AF50. The AF50, the UK’s most influential annual survey of business and equipment lessors, shows market growth of 8.3% as total net investment has risen to £37.1 billion from £34.2 billion, according to this year’s study. The AF50, sponsored by Alfa, is published by Asset Finance International and prepared by Asset Finance Policy’s director Julian Rose, the author of the A to Z of Asset Finance and Leasing.

Women’s Leadership Forum fosters increased diversity in equipment finance

The first-ever Women’s Leadership Forum organised by the Equipment Leasing and Financing Association (ELFA) in the US focused on tangible steps to improve performance and grow leadership skills. Among speakers at the event were Lori Frasier, chair of the ELFA Women’s Council and senior vice-president of strategy and performance management for Key Equipment Finance (pictured); Dr. Terri Boyer, the founding director of the Anne Welsh McNulty Institute for Women’s Leadership at Villanova University; Robbie Samuels, author of Croissants vs. Bagels: Strategic, Effective, and Inclusive Networking at Conferences; Amanda Dooley, digital communications and content partner for DLL; and Tanya Menon, associate professor at the Fisher College of Business at Ohio State.

Women’s Leadership Forum fosters increased diversity in equipment finance

May 17, 2018

The first-ever Women’s Leadership Forum organised by the Equipment Leasing and Financing Association (ELFA) in the US focused on tangible steps to improve performance and grow leadership skills. Among speakers at the event were Lori Frasier, chair of the ELFA Women’s Council and senior vice-president of strategy and performance management for Key Equipment Finance (pictured); Dr. Terri Boyer, the founding director of the Anne Welsh McNulty Institute for Women’s Leadership at Villanova University; Robbie Samuels, author of Croissants vs. Bagels: Strategic, Effective, and Inclusive Networking at Conferences; Amanda Dooley, digital communications and content partner for DLL; and Tanya Menon, associate professor at the Fisher College of Business at Ohio State.

AF50 2018

Former senior Tesla executive Diarmuid O’Connell joins Fair to lead expansion

Former senior Tesla executive Diarmuid O'Connell has joined used car subscription app Fair as chief strategy officer ahead of its expansion throughout the US this year. O'Connell will help direct Fair's organisational and market activities and joins after 11 years at Tesla, where he served across multiple functions in his capacity as vice-president of business development.

Former senior Tesla executive Diarmuid O’Connell joins Fair to lead expansion

May 17, 2018

Former senior Tesla executive Diarmuid O'Connell has joined used car subscription app Fair as chief strategy officer ahead of its expansion throughout the US this year. O'Connell will help direct Fair's organisational and market activities and joins after 11 years at Tesla, where he served across multiple functions in his capacity as vice-president of business development.

Ford appoints Jeff Lemmer as chief information officer

Ford has announced the appointment of Jeff Lemmer as vice-president and chief information officer. He takes responsibility for information technology services for the company’s operations globally and oversees Ford’s global IT business applications, architecture, data centres, engineering and infrastructure services. He reports to Marcy Klevorn, executive vice-president and president of mobility at Ford.

Ford appoints Jeff Lemmer as chief information officer

May 14, 2018

Ford has announced the appointment of Jeff Lemmer as vice-president and chief information officer. He takes responsibility for information technology services for the company’s operations globally and oversees Ford’s global IT business applications, architecture, data centres, engineering and infrastructure services. He reports to Marcy Klevorn, executive vice-president and president of mobility at Ford.

How robotic process automation can empower CIOs

Proactive business leaders in the asset finance sector should assess the impact of robotic process automation (RPA) and its potential to revolutionise traditionally manual processes. RPA involves the use of software to replace business tasks that are repeatable, effectively mimicking the employee, who can then be deployed on tasks that provide more value to a business. Roles suitable for RPA might include gathering data from different sources or producing reports; replacing manual work with automated processes helps to manage business process complexity, increase efficiencies, and dramatically reduce costs.

How robotic process automation can empower CIOs

May 15, 2018

Proactive business leaders in the asset finance sector should assess the impact of robotic process automation (RPA) and its potential to revolutionise traditionally manual processes. RPA involves the use of software to replace business tasks that are repeatable, effectively mimicking the employee, who can then be deployed on tasks that provide more value to a business. Roles suitable for RPA might include gathering data from different sources or producing reports; replacing manual work with automated processes helps to manage business process complexity, increase efficiencies, and dramatically reduce costs.

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New leasing association helps unlock Africa’s $80 billion leasing market

The International Finance Corporation, a member of the World Bank Group, has formally launched Africalease, a new association to promote leasing in sub-Saharan Africa. Also known as the African Leasing Association, the association was launched at a major leasing conference in Accra, Ghana, organised by IFC and SECO, the Swiss state secretariat for economic affairs.

New leasing association helps unlock Africa’s $80 billion leasing market

May 14, 2018

The International Finance Corporation, a member of the World Bank Group, has formally launched Africalease, a new association to promote leasing in sub-Saharan Africa. Also known as the African Leasing Association, the association was launched at a major leasing conference in Accra, Ghana, organised by IFC and SECO, the Swiss state secretariat for economic affairs.

DLL appoints Mike Janse as chief operating officer

Global asset-based financial solutions provider DLL has appointed Mike Janse as chief operating officer and member of its executive board. Janse joined DLL, formerly De Lage Landen, in 2004 and has held several leadership roles within finance and operations, as well as international assignments in Europe and Latin America. Most recently, he served as senior vice-president for the Latin American Region, overseeing business activities and operations in Argentina, Brazil, Chile and Mexico.

DLL appoints Mike Janse as chief operating officer

May 14, 2018

Global asset-based financial solutions provider DLL has appointed Mike Janse as chief operating officer and member of its executive board. Janse joined DLL, formerly De Lage Landen, in 2004 and has held several leadership roles within finance and operations, as well as international assignments in Europe and Latin America. Most recently, he served as senior vice-president for the Latin American Region, overseeing business activities and operations in Argentina, Brazil, Chile and Mexico.

Best global cities for mobility services revealed

Global management consultancy Arthur D. Little has unveiled the findings of its major global study into mobility, with a warning that much more work needs to be done worldwide to improve urban transport networks. Singapore and several European capitals lead the rankings, with London in eighth place overall. In the study, cities are marked out of 100 based on the maturity, innovativeness and performance of their urban mobility systems. Arthur D. Little said most cities it analysed had scope for major improvement, with an average score of just 42.3 worldwide.

Best global cities for mobility services revealed

May 14, 2018

Global management consultancy Arthur D. Little has unveiled the findings of its major global study into mobility, with a warning that much more work needs to be done worldwide to improve urban transport networks. Singapore and several European capitals lead the rankings, with London in eighth place overall. In the study, cities are marked out of 100 based on the maturity, innovativeness and performance of their urban mobility systems. Arthur D. Little said most cities it analysed had scope for major improvement, with an average score of just 42.3 worldwide.

LeasePlan USA partners with Microsoft to offer fleets mileage reimbursement

Clients of LeasePlan USA will be able to automatically manage mileage reimbursement for employees in a new partnership with Microsoft-owned MileIQ. Through the service agreement, drivers will be able to use the MileIQ app, which uses a smartphone to automatically detect when a trip starts and ends using the phone’s GPS and accelerometer. Drivers can then quickly categorise journeys as business, personal or passenger, while also recording fees and tolls per trip.

LeasePlan USA partners with Microsoft to offer fleets mileage reimbursement

May 11, 2018

Clients of LeasePlan USA will be able to automatically manage mileage reimbursement for employees in a new partnership with Microsoft-owned MileIQ. Through the service agreement, drivers will be able to use the MileIQ app, which uses a smartphone to automatically detect when a trip starts and ends using the phone’s GPS and accelerometer. Drivers can then quickly categorise journeys as business, personal or passenger, while also recording fees and tolls per trip.

Free2Move Lease launches Connect Fleet service

Free2Move Lease, the PSA Group’s multi-brand vehicle leasing and finance business, has launched a new telematics service for fleets. Free2Move Connect Fleet offers vehicle tracking and enhanced services including geo-fencing, which alerts managers if a vehicle enters or leaves a specific location. In addition to being able to track drivers’ hours, mileage and fuel consumption, the system can also monitor for key safety issues, such as harsh braking or acceleration, to build a performance profile so employers can provide feedback and advice, ensuring employees are safe and cost-efficient.

Free2Move Lease launches Connect Fleet service

May 11, 2018

Free2Move Lease, the PSA Group’s multi-brand vehicle leasing and finance business, has launched a new telematics service for fleets. Free2Move Connect Fleet offers vehicle tracking and enhanced services including geo-fencing, which alerts managers if a vehicle enters or leaves a specific location. In addition to being able to track drivers’ hours, mileage and fuel consumption, the system can also monitor for key safety issues, such as harsh braking or acceleration, to build a performance profile so employers can provide feedback and advice, ensuring employees are safe and cost-efficient.

PayPal Working Capital hits lending milestone

PayPal Working Capital, the innovative business finance arm of the global payment services provider, has revealed a sharp rise in demand from UK SMEs. It has provided a total of £625 million in working capital finance, up from £400 million in mid-2017, to more than 30,000 businesses.

PayPal Working Capital hits lending milestone

May 11, 2018

PayPal Working Capital, the innovative business finance arm of the global payment services provider, has revealed a sharp rise in demand from UK SMEs. It has provided a total of £625 million in working capital finance, up from £400 million in mid-2017, to more than 30,000 businesses.

Car finance maintains long-term growth despite falls

New business in the point of sale (POS) consumer car finance market fell 5% by value and 10% by volume in March compared with the same month in 2017, new figures have revealed. Despite this, for Q1 2018, the value of new business grew 3%, although volumes fell by 1% compared with the same quarter in 2017. A fall in consumer new car finance of 9% by value and 15% by volume was offset by the used car market, where new business was up 4% in March, compared to last year, although volumes fell 1%.

Car finance maintains long-term growth despite falls

May 11, 2018

New business in the point of sale (POS) consumer car finance market fell 5% by value and 10% by volume in March compared with the same month in 2017, new figures have revealed. Despite this, for Q1 2018, the value of new business grew 3%, although volumes fell by 1% compared with the same quarter in 2017. A fall in consumer new car finance of 9% by value and 15% by volume was offset by the used car market, where new business was up 4% in March, compared to last year, although volumes fell 1%.

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Anti-money laundering – blind justice or justice that turns a blind eye?

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