Jud Snyder becomes chairman of ELFA as new board and officers appointed

The Equipment Leasing and Finance Association (ELFA) has announced its new board of directors and officers. As part of the changes, Jud Snyder, president of BMO Harris Equipment Finance Company, has been appointed as chairman of the board. Snyder joined BMO in 1994. Prior to taking on his current role, he had roles in credit, sales, specialized industries and sales management within both the commercial bank and the equipment finance company.

Jud Snyder becomes chairman of ELFA as new board and officers appointed

Oct 19, 2018

Daimler Financial Services invests in avatar-based customer service

Daimler Financial Services has made a strategic investment in Soul Machines, the New Zealand start-up that is a world leader in digital avatar-based customer service. The investment will help Daimler Financial Services to develop ‘near human’ digital services based around on-screen avatars that display ‘emotional intelligence’. The company brings technology to life by creating incredibly realistic, emotionally responsive, artificial humans with personality and character that allows machines to talk to humans face-to-face.

Daimler Financial Services invests in avatar-based customer service

Oct 19, 2018

Exeter Finance extends partnership with White Clarke Group

Exeter Finance has extended its contract with financial software provider White Clarke Group for its CALMS Loan Origination Software. Exeter Finance is a specialty auto finance company based in Irving, Texas, that partners with franchised auto dealers throughout the country. Founded in 2006, it works with more than 9,000 US dealers and has a serviced finance portfolio of more than $3 billion dollars, with more than 200,000 customers nationwide.

Exeter Finance extends partnership with White Clarke Group

Oct 19, 2018

Fleet finance market faces radical change

Fleet finance companies are facing fundamental changes as they respond to new market dynamics and innovative opportunities for growth. The changes are being instigated by underlying trends in both the corporate and private vehicle segments, which were outlined at the recent International Asset Finance Network conference in London. A key trend is the increasing focus on the consumer segment as a source of growth for leasing companies, which requires a different approach compared to serving the fleet market, traditionally the leasing sector’s key source of demand. Tim Porter, managing director of Lex Autolease, the UK’s biggest leasing company, explains the factors behind the strategic change in this video, provided courtesy of global financial technology supplier White Clarke Group.

Fleet finance market faces radical change

Oct 16, 2018

Customers are ready for ‘Amazon Bank’

Amazon could become a major force in banking almost overnight after new research showed that millions of its customers would sign up to try a bank account if one was launched. The global internet giant has more than 300 million active customers, but the most important community is its 100 million Prime members, who pay a fee for services from the retailer.

Customers are ready for ‘Amazon Bank’

Oct 18, 2018

Arval Brazil names new CEO

Arval Brazil has appointed Andrea Falcone as its new chief executive officer. He replaces Nuno Silva, who has become regional general manager of Arval in Latin America. An Italian national, Falcone has been based in Brazil for more than a decade and joined Arval as chief financial officer in 2014. He subsequently became vice-president and director of commercial and marketing.

Arval Brazil names new CEO

Oct 16, 2018

Asset investment levels remain strong

Investment in equipment and software should remain strong in 2018, expanding 7.9%, after solid growth in 2017, according to a Q4 update from the US Equipment Leasing & Finance Foundation. The prediction is an improvement on the 7% growth rate predicted the previous quarter.

Asset investment levels remain strong

Oct 12, 2018

The digitalisation challenge – how auto finance companies need to respond

A skilled, diverse workforce is the key to successfully tackling the digitalisation challenge. By having different views and different backgrounds, a company can broaden its horizons and introduce new ideas and an enthusiasm for innovation that will lay the foundations for companies to adapt to change. According to Andy Denton, CEO of global financial software giant Alfa, companies need a cultural shift to embrace the potential of digitalisation.

The digitalisation challenge – how auto finance companies need to respond

Jun 25, 2018

‘Dose of reality’ needed on auto market predictions, claims NADA chairman

Wes Lutz, chairman of the US National Automobile Dealers Association (NADA), has called for a “dose of reality” about how the auto market is changing, arguing that claims that ride-hailing will replace personal vehicle ownership should be treated more skeptically than is currently the case. He also urged caution over whether self-driving cars will be implemented in large numbers, and about dealers’ apparent lack of enthusiasm for electric vehicles. Lutz said in remarks to the Automotive Press Association: “Each one of these narratives might sound right. But the truth is that each one is built on false or unproven pretences.”

‘Dose of reality’ needed on auto market predictions, claims NADA chairman

Oct 12, 2018

Leaseurope Annual Convention 2018 explores leasing industry efficiency and digital transformation

“The fox knows many things, but the hedgehog knows one big thing” - Archilochus At the Leaseurope 2018 Annual Convention last week, keynote speaker Silvija Seres from Nordic investment firm Technorocks called on delegates to be both hedgehog and fox. The wide variety of convention sessions set out to help delegates do just that over the two-day event at the Hilton Molino Stucky, Venice, which was attended by 400 industry leaders from 30 countries, The ‘big thing’ the hedgehog should know, Silves suggested, is digital transformation.

Leaseurope Annual Convention 2018 explores leasing industry efficiency and digital transformation

Oct 10, 2018

Volkswagen Financial Services (UK) appoints Mike Todd as new chief executive officer

Mike Todd has been appointed as chief executive officer for Volkswagen Financial Services (UK). He returns to VWFS UK following two years as country manager for Volkswagen Bank Ireland where the business achieved record results under his leadership. It launched the first full captive leasing service in Ireland and also became a leading VWFS market globally for customer loyalty.

Volkswagen Financial Services (UK) appoints Mike Todd as new chief executive officer

Oct 10, 2018

PCF Bank diversifies with acquisition of broadcast and media finance specialist Azule

PCF Bank has announced the acquisition of Azule, a pan-European provider of specialist funding to the broadcast and media industry, for £5.6 million. The acquisition is part of the bank’s expansion strategy and opens a new asset class within PCF’s existing asset finance market. PCF Bank currently offers retail savings products for individuals and then deploys those funds through its two lending divisions; consumer finance offers funding for motor vehicles, while business finance provides funding vehicles, plant and equipment to SMEs.

PCF Bank diversifies with acquisition of broadcast and media finance specialist Azule

Oct 09, 2018

Why the digital revolution needs a human touch

The combined challenges of digitalisation and updating employee skills to enhance the benefits of new technology are the key priorities of industry leaders, according to research carried out by Sword Apak. Its research reveals digitalisation is the term most frequently referred to by business leaders as they consider the challenges and opportunities they face over the coming years.

Why the digital revolution needs a human touch

Oct 05, 2018

DRIVE Software Solutions plans global expansion as it reaches 1m vehicles powered by its software

International fleet software provider DRIVE Software Solutions has celebrated a key milestone in its growth as clients now use its systems to manage more than 1 million vehicles. It reached the landmark after its software was launched with several major clients over the past few years, including BNP Paribas-owned Arval, one of the world’s biggest leasing companies. Having established a strong reputation for its software with Arval UK since 2011, its platform was extended to Arval in Italy in 2014, France in 2016 and Spain last year, adding hundreds of thousands of units to the vehicles managed by DRIVE.

DRIVE Software Solutions plans global expansion as it reaches 1m vehicles powered by its software

Oct 08, 2018

Road to growth for Grab as it expands from ride-hailing to financial services in south-east Asia

The financial and technological landscape for Singapore-based ride-hailing company Grab has altered dramatically since its inception six years ago. Grab has expanded its business model beyond simply matching drivers and customers via its app, to offer services in several new areas, as it builds a lifestyle platform around its brand. Its app-based ecosystem spreads from ride-hailing to bike sharing and food delivery, serving a community of millions of users. Financial services has been the next critical step with the launch of GrabPay, its mobile wallet service that is expanding the reach of its brand.

Road to growth for Grab as it expands from ride-hailing to financial services in south-east Asia

Oct 08, 2018

Arval UK expands into used vehicle leasing

Arval UK has launched a used vehicle leasing product called Re-Lease, aimed at the small business and consumer market. The vehicles on offer are taken from Arval’s own fleet, have fewer than 30,000 miles on the clock and are less than 30 months old. Leases are being offered at 12 and 24 months, over contract lengths from 5,000-25,000 miles per year and with prices that are typically 20% less than an equivalent new model.