International Asset Finance Network Conference attracts record audience to debate impact of digitalisation and servitisation

A record number of delegates attended the annual International Asset Finance Network conference in London to gain insights into the disruptive impact of digitalisation and servitisation. The packed event attracted more than 430 senior industry figures to network and discuss the most pressing strategic issues affecting their businesses. The packed agenda included the presentation of the findings of a major new study conducted by Professor Tim Baines of Aston Business School into the changing roles of fleet, auto retail and equipment finance providers as digitalisation and servitisation begins to transform the auto and equipment finance industry.

International Asset Finance Network Conference attracts record audience to debate impact of digitalisation and servitisation

Jun 14, 2019

IAFN Awards 2019 recognise the industry’s best and brightest

The annual International Asset Finance Network Awards have been announced during a gala dinner in London attended by hundreds of senior industry figures. In front of a record audience, the leading companies and business leaders were recognised in nearly 20 categories. Edward Peck, co-founder of the International Asset Finance Network and chief executive officer of Asset Finance International, presented a new line-up of awards celebrating the wide range of different types of organisation in the industry. Nearly 30 senior industry figures took the role of independent judges to determine the winners, with the process verified as fair by chairman Adrian Dally, head of motor finance at the Finance and Leasing Association.

IAFN Awards 2019 recognise the industry’s best and brightest

Jun 14, 2019

Skoda trials Europe’s first university car-sharing service

Car manufacturer Skoda has developed a pioneering car-sharing platform for students who don’t want to commit to outright car ownership during their studies. Uniqway has been developed together with students from three Czech universities. Both students and faculty members only pay for what they use, with Uniqway prices starting from just over €1 per hour plus a small fee for every kilometre driven.

Skoda trials Europe’s first university car-sharing service

Jun 12, 2019

**NEW JOB VACANCY**

CFO with Listing Experience Required.

Copernicus, the developers of the highly regarded Solar asset finance pricing, administration and accounting package, are looking for a CFO to take them to the next stage of their development by way of an AIM listing.

Following recent successes in the UK and USA Copernicus are looking to scale up their marketing and customer support operation by a listing on AIM. Candidates will have experience of an AIM listing or similar and preferably have a FinTech background.

Solar has been implemented at 5 sites in the USA with huge opportunities for further expansion. We are currently updating our existing client base in the UK as well as taking on new installations. We are also looking to expand into Europe and other territories. The data driven nature of Solar enables rapid implementations and ongoing reduced maintenance costs thus enabling us to provide a highly functional product as an extremely cost-effective SaaS.

Remuneration for the newly appointed CFO will be in line with experience. There will also be an opportunity to participate in the listing.

Contact: Please send your CV to the CEO of Copernicus allen.jones@copernicus.co.uk

AF50 2019 reveals UK’s biggest asset finance companies

The current leaders of the UK’s dynamic asset finance market have been revealed in the exclusive 2019 Asset Finance 50. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £38 billion, up 6.2% from £35.9 billion in last year’s report. The top 10 firms represent 60.6% of the AF50, up from 59.3% last year, with the largest company, Lombard, accounting for 15% of the market. In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.

AF50 2019 reveals UK’s biggest asset finance companies

May 22, 2019

Pragmatic AI for asset finance

For several years now, presentations on digital technologies have dominated the agenda at asset finance industry conferences as well as being a key discussion point in many boardrooms. The ability to provide modern tools for customer or intermediary self-service along with finding improved ways to make better and more efficient business decisions are notable requirements for IT investment today. Recently, Artificial Intelligence (AI) has taken centre stage and is pushed from many quarters. At the same time, it can be hard to understand exactly what it is, and harder still to determine how it can be applied specifically to your business and bring material value. I am going to give my perspective on why AI has had its recent prominence, demystify it a little and explain how any asset finance company, not just the largest, can take pragmatic steps to applying AI in value-adding ways.

Pragmatic AI for asset finance

Jun 12, 2019

US car-buying platform Roadster expands into UK

Roadster, 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.

US car-buying platform Roadster expands into UK

Jun 12, 2019

Electric future beckons as interest in zero-emission vehicles gathers pace

There will be strong future demand for a new generation of zero-emission vehicles as tolerance for cities choked by traffic pollution is fast disappearing, according to new claims by industry experts. By 2030, 70% of new car and van sales are expected to be zero-emission-capable vehicles, with the current rise in demand predicted to be the start of exponential growth in sales of ultra-low-emission transport. According to the European Automobile Manufacturers Association, across the European Union sales of plug-in vehicles rose 40% in the first quarter of 2019, compared to the same period last year. Sales of mild hybrid vehicles were up one-third. Total alternative fuel vehicle sales reached 341,000 in Q1, a year-on-year rise of 26%, while diesel sales fell 18% to 1.3 million and petrol vehicle sales grew 3% to 2.4 million.

Electric future beckons as interest in zero-emission vehicles gathers pace

Jun 11, 2019

How finance industry leaders must embrace change to drive future growth

Finance industry leaders are taking insights from the FinTech sector as they adapt their companies to a changing business environment. The competitive landscape of asset finance means that companies must embrace change to maintain differentiation and secure loyalty among customers, according to a leading panel of executives. Panellists present at the IAFN Conference included Nathan Mollett, director of Metro Bank Asset Finance, who remarked: “In equipment finance right now, there just isn’t enough innovation. In equipment finance I think increasingly there will be a bigger requirement to have on-demand models. “We are seeing a bit of that in construction and maybe agriculture, but traditional equipment financiers will have to develop pay-as-you-use models to create that differentiation.”

How finance industry leaders must embrace change to drive future growth

May 09, 2019

Chinese consumers embrace technology to power finance boom

Technologies 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."

Chinese consumers embrace technology to power finance boom

Jun 10, 2019

How technology is bringing customers closer to one-click finance

The finance industry is moving towards an environment where business customers can arrange funding with a single mouse click following rapid developments in technology and increasing adoption of digital banking services, according to a panel of experts. These advances are being accelerated because customers now expect a high degree of certainty about the outcome of finance applications early in the process, based on their experience with other digital services, delegates heard at a recent Leasing Foundation Innovation Initiative debate. Delegates were told that a combination of open banking technology and predictive analytics are allowing finance providers to automatically assess risk and obtain data that can be used to drive funding decisions.

How technology is bringing customers closer to one-click finance

Jun 10, 2019

UK asset finance market grows by 7% in April

Asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial vehicle finance new business increased by 23% over the same period.

UK asset finance market grows by 7% in April

Jun 07, 2019

UK used car finance market exceeds new car sector in April

Used car finance continued to drive the UK vehicle finance market in April, according to new figures released by the Finance & Leasing Association. While new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared to the same month in 2018, demand in the used car market grew 4% by value and 1% by volume over the same period. The value of advances for new cars was £1,603 million, compared to £1,632 million in the used car market.

UK used car finance market exceeds new car sector in April

Jun 07, 2019

UK council searches for asset finance partners in £24m Clean Air Zone fleet loan scheme

A UK city is seeking asset finance partners to help in its multi-million pound drive to reduce roadside emissions. Bath and North East Somerset Council is launching a financial support scheme to help businesses upgrade their vehicles as it prepares to launch a charging Clean Air Zone in the centre of Bath next year. From late 2020, the local authority will charge all higher emission vehicles - except cars - to drive in the city centre as part of its plan to reduce high levels of nitrogen dioxide (NO2) by 2021 at the latest.

UK council searches for asset finance partners in £24m Clean Air Zone fleet loan scheme

Jun 07, 2019

Why demand for a retail-like F&I experience offers more opportunities than challenges

Long-gone are the days of walking around numerous car showrooms, all clustered together on a local industrial park, then negotiating a deal for hours. Modern buyers still ‘shop around’, but now from the comfort of their own home, before walking onto a sales forecourt with a clear picture of what they want, and how much they are willing to pay. While many would still argue they would never purchase a car online, look back 10 years and they probably would not have thought they would be paying for their morning coffee using a smartphone. For dealerships to press forward in 2019, it is vital that they embrace the online customer journey where possible.

Why demand for a retail-like F&I experience offers more opportunities than challenges

Jun 06, 2019

Personal guarantee insurance helps business bounce back following cash crisis

Small business owners have told how personal guarantee insurance played a critical role in guiding their business to success when they experienced cash flow problems. The founders of Xtreme360, a trampoline park located in Cambridgeshire, UK, secured asset finance to fit out their new venture, which included signing personal guarantees. As it entered a growth stage, it encountered cash flow problems, as ongoing costs ate into profits, leaving a shortfall for covering loan repayments. The directors had secured personal guarantee insurance from Purbeck Insurance Services and turned to the company for guidance during their financial difficulties.

Personal guarantee insurance helps business bounce back following cash crisis

Jun 06, 2019

LeasePlan trials new connected technology to revolutionise personal car sharing

Global vehicle leasing provider LeasePlan has developed a mobility app that enables private lease customers to share their cars with friends and family. The app, called Tess, is being trialled in the Netherlands for six months with a group of 100 users.

LeasePlan trials new connected technology to revolutionise personal car sharing

Jun 05, 2019

Challenges facing commercial fleets provide growth opportunities for BNP Paribas Rental Solutions UK

There is a saying that ‘if you bought it, a lorry brought it’ which reflects the critical role of commercial vehicles as the lifeblood of any economy. The essential daily work carried out by lorries and trucks, often operating to strict schedules and tight margins, requires specialist support and expertise to ensure vehicles are fit for purpose and effectively managed. For a supplier to succeed in this market, they require expert in-depth knowledge and a commitment to customers that recognises the unique challenges facing the sector. This is exactly what drives the leadership team at BNP Paribas Rental Solutions, part of the global BNP Paribas group.