Amicus Asset Finance aims to nearly double in size under new ownership

Amicus Asset Finance has moved back into private ownership amid plans to nearly double the size of the business in the next year. The business was formerly owned by Amicus Finance, which entered administration at the end of last year, affecting its property and commercial mortgages arms.

Amicus Asset Finance aims to nearly double in size under new ownership

Jan 14, 2019

Amicus Asset Finance has moved back into private ownership amid plans to nearly double the size of the business in the next year. The business was formerly owned by Amicus Finance, which entered administration at the end of last year, affecting its property and commercial mortgages arms.

Recruitment agency CBC returns to its spiritual home after 12 years

CBC Resourcing Solutions, the UK recruitment agency for the finance industry, has relocated to Altrincham, the town where the business started more than 25 years ago. The business, led Graeme Chisholm and Miles Clarke, is moving from its current offices in Cheadle.

Recruitment agency CBC returns to its spiritual home after 12 years

Jan 14, 2019

CBC Resourcing Solutions, the UK recruitment agency for the finance industry, has relocated to Altrincham, the town where the business started more than 25 years ago. The business, led Graeme Chisholm and Miles Clarke, is moving from its current offices in Cheadle.

Altavair AirFinance secures $1 billion investment

Global investment firm KKR is putting $1 billion into a new partnership with Altavair AirFinance, a specialist commercial aviation finance company to create a global portfolio of leased commercial aircraft. Seattle-headquartered Altavair will be KKR’s partner for aircraft leasing investments and KKR will also acquire a 50% interest in Altavair as part of the long-term partnership. KKR’s initial investment will go towards the acquisition of six cargo aircraft on long-term lease with a diverse group of airline counterparties.

Altavair AirFinance secures $1 billion investment

Jan 14, 2019

Global investment firm KKR is putting $1 billion into a new partnership with Altavair AirFinance, a specialist commercial aviation finance company to create a global portfolio of leased commercial aircraft. Seattle-headquartered Altavair will be KKR’s partner for aircraft leasing investments and KKR will also acquire a 50% interest in Altavair as part of the long-term partnership. KKR’s initial investment will go towards the acquisition of six cargo aircraft on long-term lease with a diverse group of airline counterparties.

 

Why leasing companies must adjust their skillsets to meet growing private customer demand

A growing army of employees are throwing off the chains of their company car schemes in favour of cash, so they are free to source their own vehicles instead. In response, the leasing industry is adapting to offer new services to retain their business as drivers change from fleet to retail customers, spurred on by higher company car taxes and limited choice lists. For suppliers, the shift is bringing a wide range of challenges as the market shifts from a B2B to a B2C environment, including the need for new skillsets among leasing company employees to manage a different type of customer journey. Miguel Cabaça, managing director of Arval UK, provides a briefing on the issues facing the leasing industry in this exclusive video, provided courtesy of global financial software supplier White Clarke Group.

Why leasing companies must adjust their skillsets to meet growing private customer demand

Dec 19, 2018

A growing army of employees are throwing off the chains of their company car schemes in favour of cash, so they are free to source their own vehicles instead. In response, the leasing industry is adapting to offer new services to retain their business as drivers change from fleet to retail customers, spurred on by higher company car taxes and limited choice lists. For suppliers, the shift is bringing a wide range of challenges as the market shifts from a B2B to a B2C environment, including the need for new skillsets among leasing company employees to manage a different type of customer journey. Miguel Cabaça, managing director of Arval UK, provides a briefing on the issues facing the leasing industry in this exclusive video, provided courtesy of global financial software supplier White Clarke Group.

 
 

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Societe Generale leads exclusive AFE50 rankings as smaller players increase market share

Societe Generale has been named as the largest European asset finance company in the annual Asset Finance Europe 50 (AFE 50) which is released today. The 2018 AFE50 provides insights into the European business equipment and car leasing industry, whose 50 largest members make up a community with lease receivables of more than €271 billion, a year-on-year rise of nearly 4%.

Societe Generale leads exclusive AFE50 rankings as smaller players increase market share

Dec 19, 2018

Societe Generale has been named as the largest European asset finance company in the annual Asset Finance Europe 50 (AFE 50) which is released today. The 2018 AFE50 provides insights into the European business equipment and car leasing industry, whose 50 largest members make up a community with lease receivables of more than €271 billion, a year-on-year rise of nearly 4%.

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Aircraft leasing firm ATSG boosted by Amazon deal

Aircraft leasing company Air Transport Services Group (ATSG) is expanding its aircraft leasing agreements with internet retail giant Amazon. The developments include agreements to lease and operate 10 additional Boeing 767s for Amazon, extending leases for 20 767 aircraft ATSG currently provides, and extending the current agreement through which ATSG’s airlines operate those aircraft in the Amazon Air network. In addition, Amazon will be granted warrant rights which, if exercised, would further expand its potential equity stake in ATSG. The arrangements also provide warrant incentives for Amazon to lease up to 17 additional cargo aircraft from ATSG.

Aircraft leasing firm ATSG boosted by Amazon deal

Jan 14, 2019

Aircraft leasing company Air Transport Services Group (ATSG) is expanding its aircraft leasing agreements with internet retail giant Amazon. The developments include agreements to lease and operate 10 additional Boeing 767s for Amazon, extending leases for 20 767 aircraft ATSG currently provides, and extending the current agreement through which ATSG’s airlines operate those aircraft in the Amazon Air network. In addition, Amazon will be granted warrant rights which, if exercised, would further expand its potential equity stake in ATSG. The arrangements also provide warrant incentives for Amazon to lease up to 17 additional cargo aircraft from ATSG.

Fortis fleet management launches

A new professional consultancy and provider of asset management and monitoring solutions for rental companies and fleet owners across the equipment industry has launched to the industry. Fortis will be led by an executive team including Josh Mosko, founder and CEO. He said: “Together, we possess more than a century of asset management and telematics expertise in the rental and equipment industry. “Part of our value proposition is we have worked for rental, distributor, and OEM firms in various sales, operations, fleet, and product support roles. We understand the equipment, applications, and end-user expectations and the pain points of managing fleets from the field to the executive level.”

Fortis fleet management launches

Jan 14, 2019

A new professional consultancy and provider of asset management and monitoring solutions for rental companies and fleet owners across the equipment industry has launched to the industry. Fortis will be led by an executive team including Josh Mosko, founder and CEO. He said: “Together, we possess more than a century of asset management and telematics expertise in the rental and equipment industry. “Part of our value proposition is we have worked for rental, distributor, and OEM firms in various sales, operations, fleet, and product support roles. We understand the equipment, applications, and end-user expectations and the pain points of managing fleets from the field to the executive level.”

Ford halts Chariot mobility service

Ford is to cease operation of its Chariot shared subscription minibus service by the end of the month. San Francisco-headquartered Chariot, founded in 2014, offered a smartphone app-enabled transport service where users could book a seat in a Ford minibus for cheaper commuting. The company also operated an enterprise service tailored to business clients. The e-shuttle start-up was acquired by Ford in 2016 for $65m. It was the first acquisition made by Ford’s newly launched Ford Smart Mobility unit, which was targeted with investing in “innovative mobility start-ups and technologies”.

Ford halts Chariot mobility service

Jan 14, 2019

Ford is to cease operation of its Chariot shared subscription minibus service by the end of the month. San Francisco-headquartered Chariot, founded in 2014, offered a smartphone app-enabled transport service where users could book a seat in a Ford minibus for cheaper commuting. The company also operated an enterprise service tailored to business clients. The e-shuttle start-up was acquired by Ford in 2016 for $65m. It was the first acquisition made by Ford’s newly launched Ford Smart Mobility unit, which was targeted with investing in “innovative mobility start-ups and technologies”.

Bynx Australia 2018

  

Spanish auto leasing market grows 8% in 2018 to record high

The Spanish Vehicle Leasing Association (Asociación Española de Renting de Vehículos) has revealed that registrations among its member fleet grew 8% during 2018. Members registered 267,732 vehicles, a new record, and provided funding worth nearly €5 billion during the year, an increase of nearly 6% compared to 2017.Leasing accounts for around 17% of all vehicle sales in Spain.

Spanish auto leasing market grows 8% in 2018 to record high

Jan 14, 2019

The Spanish Vehicle Leasing Association (Asociación Española de Renting de Vehículos) has revealed that registrations among its member fleet grew 8% during 2018. Members registered 267,732 vehicles, a new record, and provided funding worth nearly €5 billion during the year, an increase of nearly 6% compared to 2017.Leasing accounts for around 17% of all vehicle sales in Spain.

Alphera launches new online portal for car finance customers

Alphera Financial Services, BMW Group’s independent motor finance division, has launched a new online portal for its UK car finance customers. Called My Alphera Finance, the platform gives customers a way to access information about their finance agreement and manage their account.

Alphera launches new online portal for car finance customers

Jan 14, 2019

Alphera Financial Services, BMW Group’s independent motor finance division, has launched a new online portal for its UK car finance customers. Called My Alphera Finance, the platform gives customers a way to access information about their finance agreement and manage their account.

Value of UK car finance market continues to grow, despite faltering sales

The average amount financed for new and used cars reached a new record in the UK during November last year, despite faltering sales. The average amount financed per new car was £20,770 (calculated by dividing the total amount financed by the number of new cars funded), while average used car finance reached £12,499.

Value of UK car finance market continues to grow, despite faltering sales

Jan 11, 2019

The average amount financed for new and used cars reached a new record in the UK during November last year, despite faltering sales. The average amount financed per new car was £20,770 (calculated by dividing the total amount financed by the number of new cars funded), while average used car finance reached £12,499.

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UK asset finance market remains on track for record year

Growth in asset finance new business (primarily leasing and hire purchase) for the UK remained stable towards the end of last year as the industry prepared to make a record year. New figures released by the Finance & Leasing Association (FLA) for November show that plant and machinery finance and business equipment finance sectors grew 9% and 8% respectively compared to the same period last year.

UK asset finance market remains on track for record year

Jan 11, 2019

Growth in asset finance new business (primarily leasing and hire purchase) for the UK remained stable towards the end of last year as the industry prepared to make a record year. New figures released by the Finance & Leasing Association (FLA) for November show that plant and machinery finance and business equipment finance sectors grew 9% and 8% respectively compared to the same period last year.

Hampshire Trust Bank relaunches asset finance division as Specialist Business Finance

Hampshire Trust Bank is relaunching its asset finance division as Specialist Business Finance. The new business offers broker asset finance, wholesale lending and a series of specialist business lines, the first of which is Structured Asset Finance.

Hampshire Trust Bank relaunches asset finance division as Specialist Business Finance

Jan 11, 2019

Hampshire Trust Bank is relaunching its asset finance division as Specialist Business Finance. The new business offers broker asset finance, wholesale lending and a series of specialist business lines, the first of which is Structured Asset Finance.

Italian captive auto finance companies fined €670 million over cartel

The Italian competition authority has issued fines totalling €670 million to a number of car manufacturers and captive auto finance houses after ruling they restricted competition for more than a decade. Allegations from the AGCM (Autorità Garante della Concorrenza e del Mercato) competition authority related to infringements between 2003 and 2017.

Italian captive auto finance companies fined €670 million over cartel

Jan 10, 2019

The Italian competition authority has issued fines totalling €670 million to a number of car manufacturers and captive auto finance houses after ruling they restricted competition for more than a decade. Allegations from the AGCM (Autorità Garante della Concorrenza e del Mercato) competition authority related to infringements between 2003 and 2017.

Financial institutions “to be transformed into IT businesses within 10 years”

Finance professionals are predicting radical market changes as financial institutions are transformed into IT businesses within a decade. According to a survey of more than 1,000 finance professionals, many executives are already finding the speed of change so rapid that they find it hard to keep pace. The Onguard FinTech Barometer revealed that although the vast majority of professionals in financial services believe that their current employer will still exist in ten years' time (74%), 47% anticipate that new technologies, such as robotization and digitalisation, will result in far fewer jobs in the financial sector.

Financial institutions “to be transformed into IT businesses within 10 years”

Jan 10, 2019

Finance professionals are predicting radical market changes as financial institutions are transformed into IT businesses within a decade. According to a survey of more than 1,000 finance professionals, many executives are already finding the speed of change so rapid that they find it hard to keep pace. The Onguard FinTech Barometer revealed that although the vast majority of professionals in financial services believe that their current employer will still exist in ten years' time (74%), 47% anticipate that new technologies, such as robotization and digitalisation, will result in far fewer jobs in the financial sector.

Hitachi Capital acquires Maske Fleet to expand vehicle solutions operations in Europe

Hitachi Capital has expanded its fleet management service coverage in Europe with the acquisition of Maske Fleet. Maske Fleet provides rental and fleet management services for cars and commercial vehicles in Austria and Germany. It also has a presence in Denmark, which Hitachi Capital intends to use as an entry point for further expansion into the Nordic region.

Hitachi Capital acquires Maske Fleet to expand vehicle solutions operations in Europe

Jan 09, 2019

Hitachi Capital has expanded its fleet management service coverage in Europe with the acquisition of Maske Fleet. Maske Fleet provides rental and fleet management services for cars and commercial vehicles in Austria and Germany. It also has a presence in Denmark, which Hitachi Capital intends to use as an entry point for further expansion into the Nordic region.

Volkswagen targets €1bn revenue from connected car services

Vehicle manufacturer Volkswagen is creating a cloud-based marketplace to sell extra vehicle functions and online services that could generate revenues of more than €1 billion by 2025. It wants to connect its entire fleet to the digital service so drivers – and eventually autonomous vehicle passengers – will be able to source services while on the move. Proposed services will range from parking to deliveries and car sharing.

Volkswagen targets €1bn revenue from connected car services

Jan 09, 2019

Vehicle manufacturer Volkswagen is creating a cloud-based marketplace to sell extra vehicle functions and online services that could generate revenues of more than €1 billion by 2025. It wants to connect its entire fleet to the digital service so drivers – and eventually autonomous vehicle passengers – will be able to source services while on the move. Proposed services will range from parking to deliveries and car sharing.

Linedata expands services with acquisition of Loansquare

Global technology solutions and services company Linedata has acquired French digital lending platform Loansquare. Loansquare is a start-up that provides a solution for setting up and managing commercial loans and streamlining exchanges between borrowers and financial institutions.

Linedata expands services with acquisition of Loansquare

Jan 08, 2019

Global technology solutions and services company Linedata has acquired French digital lending platform Loansquare. Loansquare is a start-up that provides a solution for setting up and managing commercial loans and streamlining exchanges between borrowers and financial institutions.

netsol digital

Adapting to changing behaviours and new market demands

To remain a leader in the leasing industry, Societe Generale Equipment Finance (SGEF) has adapted ...

Adapting to changing behaviours and new market demands

Jan 07, 2019

Financial institutions in search for talent to drive digitalisation initiatives

More than half of financial institutions have difficulty recruiting the right people to support wo...

Financial institutions in search for talent to drive digitalisation initiatives

Jan 08, 2019

China’s growing cities fuel auto finance expansion

As China’s megacities continue to swell in size, there is booming demand for vehicles within a gro...

China’s growing cities fuel auto finance expansion

Jan 07, 2019

Alain Van Groenendael appointed chairman and CEO of Arval

Alain Van Groenendael has been appointed as chairman and chief executive officer of global vehicle...

Alain Van Groenendael appointed chairman and CEO of Arval

Jan 04, 2019

Dealflo Agreement Automation