Breaking the 9-to-5: The rise of “anytime, anywhere” service in auto finance

Auto finance providers must be prepared to provide on-demand service to deliver the experience that customers now expect in return for their loyalty. The provision of a seamless, high quality and personalised service will be vital to future growth as there is an increasing focus on supporting customer interactions at any time of day. Nick Smith, partner with Deloitte Consulting, stated: “Customer centricity is absolutely vital; people expect an anytime, anywhere customer experience; it is not just 9-to-5.”

Breaking the 9-to-5: The rise of “anytime, anywhere” service in auto finance

Apr 07, 2020

Auto finance providers must be prepared to provide on-demand service to deliver the experience that customers now expect in return for their loyalty. The provision of a seamless, high quality and personalised service will be vital to future growth as there is an increasing focus on supporting customer interactions at any time of day. Nick Smith, partner with Deloitte Consulting, stated: “Customer centricity is absolutely vital; people expect an anytime, anywhere customer experience; it is not just 9-to-5.”

 
 
 

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Survival & Sustainability: Will new finance models thrive in a post-COVID-19 world?

The COVID-19 pandemic has halted two decades of global growth and raised several questions about how economies will function in the future. Experts are assessing whether the international upheaval caused by the pandemic will have a long-lasting impact on trade and finance, including how businesses will adapt to a changing environment. Where will future growth come from, and will it change our perspectives on what growth means?

Survival & Sustainability: Will new finance models thrive in a post-COVID-19 world?

Apr 08, 2020

The COVID-19 pandemic has halted two decades of global growth and raised several questions about how economies will function in the future. Experts are assessing whether the international upheaval caused by the pandemic will have a long-lasting impact on trade and finance, including how businesses will adapt to a changing environment. Where will future growth come from, and will it change our perspectives on what growth means?

Rallying the industry: Equipment lessors still in “battle station” mode as pandemic impact hits

The global equipment finance industry is navigating uncharted waters with the coronavirus Covid-19 pandemic. After speaking with a range of equipment lessors concerning this disruptive issue, The Alta Group, in a new report Perspectives on Coronavirus impacts and how the industry will respond, realized that equipment finance executives are looking for reliable insights at this time.

Rallying the industry: Equipment lessors still in “battle station” mode as pandemic impact hits

Apr 08, 2020

The global equipment finance industry is navigating uncharted waters with the coronavirus Covid-19 pandemic. After speaking with a range of equipment lessors concerning this disruptive issue, The Alta Group, in a new report Perspectives on Coronavirus impacts and how the industry will respond, realized that equipment finance executives are looking for reliable insights at this time.

International Asset Finance Network issues rallying call to auto and asset lenders

The UK chancellor’s £12 billion action plan in March allowed strong elements of a supply-side palliative care to the societal and industrial lock-down caused by the Covid-19 pandemic. A range of schemes have been devised to support businesses and funders including the Coronavirus Business Interruption Loan Scheme (CBILS), Term Funding for SMEs (TFSME), Contingent Term Repo Facility (CTRF) and the Covid Corporate Financing Facility (CCFF). The TFSME and the CCFF were inaccessible to UK independent and non-bank funders. Nor did it appear at first was CBILS, which had been designed to support smaller businesses from losing revenue and their cash-flow being disrupted.

International Asset Finance Network issues rallying call to auto and asset lenders

Apr 07, 2020

The UK chancellor’s £12 billion action plan in March allowed strong elements of a supply-side palliative care to the societal and industrial lock-down caused by the Covid-19 pandemic. A range of schemes have been devised to support businesses and funders including the Coronavirus Business Interruption Loan Scheme (CBILS), Term Funding for SMEs (TFSME), Contingent Term Repo Facility (CTRF) and the Covid Corporate Financing Facility (CCFF). The TFSME and the CCFF were inaccessible to UK independent and non-bank funders. Nor did it appear at first was CBILS, which had been designed to support smaller businesses from losing revenue and their cash-flow being disrupted.

 

Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

Dec 18, 2019

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

 
 

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NETSOL Technologies to implement NFS Ascent retail platform with UK bank

NETSOL Technologies has signed a contract with a UK bank to implement its cloud-based NFS Ascent retail platform. The implementation with the client, which has not been named, covers its point of sale solution and contract management system and is expected to take six months.

NETSOL Technologies to implement NFS Ascent retail platform with UK bank

Apr 07, 2020

NETSOL Technologies has signed a contract with a UK bank to implement its cloud-based NFS Ascent retail platform. The implementation with the client, which has not been named, covers its point of sale solution and contract management system and is expected to take six months.

Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Apr 06, 2020

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

Leasing Foundation launches new Industry Insights programme

The Leasing Foundation has launched a new Industry Insights programme to provide young talent with a range of experience in different industry roles. The initiative, supported by the Finance and Leasing Association, will give ‘high potential’ asset finance professionals the chance to gain exposure to businesses outside their own organisation, with support from their employer, as part of their professional development. Experiences can range from bank-owned lessors to captives, brokers, independents, advisors and technology service providers.

Leasing Foundation launches new Industry Insights programme

Apr 06, 2020

The Leasing Foundation has launched a new Industry Insights programme to provide young talent with a range of experience in different industry roles. The initiative, supported by the Finance and Leasing Association, will give ‘high potential’ asset finance professionals the chance to gain exposure to businesses outside their own organisation, with support from their employer, as part of their professional development. Experiences can range from bank-owned lessors to captives, brokers, independents, advisors and technology service providers.

 

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Registration opens for April 9 online seminar on digital innovation in asset finance

Asset finance executives can hear from leading industry experts during a new online seminar on Thursday April 9 to discover how digital innovation can drive long-term business growth. The event will look at new ways to build a business foundation that generates value from innovation. As traditional industry boundaries fall away, wider business ecosystems - and the digital platforms that enable them - will determine how the asset finance industry interacts with its customers. Many asset financiers still struggle to build the technological and organisational foundations, as well as the necessary partnerships, to generate value from new digital innovation.

Registration opens for April 9 online seminar on digital innovation in asset finance

Apr 06, 2020

Asset finance executives can hear from leading industry experts during a new online seminar on Thursday April 9 to discover how digital innovation can drive long-term business growth. The event will look at new ways to build a business foundation that generates value from innovation. As traditional industry boundaries fall away, wider business ecosystems - and the digital platforms that enable them - will determine how the asset finance industry interacts with its customers. Many asset financiers still struggle to build the technological and organisational foundations, as well as the necessary partnerships, to generate value from new digital innovation.

Key questions to ask as you manage your business through the Coronavirus crisis

Unlike past crises, the current COVID-19 crisis has arrived with little warning and has left many organisations desperately playing catch-up in response to fast changing events.  Businesses who were planning their next phases of growth are now challenged to respond to urgent requests for re-structures and payment holidays with front-line sales teams being rapidly re-deployed to address these priorities. Beyond the immediate impact of trying to help customers with their short-term cash-flow management, we at Invigors suspect this is probably just the first wave of business impacts.

Key questions to ask as you manage your business through the Coronavirus crisis

Apr 01, 2020

Unlike past crises, the current COVID-19 crisis has arrived with little warning and has left many organisations desperately playing catch-up in response to fast changing events.  Businesses who were planning their next phases of growth are now challenged to respond to urgent requests for re-structures and payment holidays with front-line sales teams being rapidly re-deployed to address these priorities. Beyond the immediate impact of trying to help customers with their short-term cash-flow management, we at Invigors suspect this is probably just the first wave of business impacts.

SMEs warned over cost of high-emission vehicles

A UK fleet management company has highlighted the major changes ahead for some fleets after research revealed nearly on quarter of vehicles operated by its customers fail to meet the latest emissions standards. Without updating the fleet, many vehicles could be affected by higher taxes or Low Emission Zone restrictions when they are eventually introduced, after legislation to postpone their launch because of the COVID-19 pandemic is lifted. FleetCheck found that 23.5% of customer vehicles failed to meet Euro 6 emissions standards, which have been set as the benchmark for toll-free access to areas including Birmingham, the UK’s second biggest city.

SMEs warned over cost of high-emission vehicles

Mar 31, 2020

A UK fleet management company has highlighted the major changes ahead for some fleets after research revealed nearly on quarter of vehicles operated by its customers fail to meet the latest emissions standards. Without updating the fleet, many vehicles could be affected by higher taxes or Low Emission Zone restrictions when they are eventually introduced, after legislation to postpone their launch because of the COVID-19 pandemic is lifted. FleetCheck found that 23.5% of customer vehicles failed to meet Euro 6 emissions standards, which have been set as the benchmark for toll-free access to areas including Birmingham, the UK’s second biggest city.

 

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Countingup updates banking and accounting app with unique offering

Countingup, the provider of a business current account with online accounting software built-in, is claiming a world-first after updating its platform to offer journals and financial reports. Adding a journal enables accountants to adjust the ledger so that transactions not already captured through banking, bills and invoices can be included. This would include depreciation, accruals and prepayments.

Countingup updates banking and accounting app with unique offering

Mar 31, 2020

Countingup, the provider of a business current account with online accounting software built-in, is claiming a world-first after updating its platform to offer journals and financial reports. Adding a journal enables accountants to adjust the ledger so that transactions not already captured through banking, bills and invoices can be included. This would include depreciation, accruals and prepayments.

Kathrin Kerls named new head of BMW Bank

BMW Bank has appointed Kathrin Kerls as its new chair of the board of management. She will take up the position in April and replaces Hans-Jürgen Cohrs, who is due to step down on the same date. He will remain to support her until he officially retires in June.

Kathrin Kerls named new head of BMW Bank

Mar 30, 2020

BMW Bank has appointed Kathrin Kerls as its new chair of the board of management. She will take up the position in April and replaces Hans-Jürgen Cohrs, who is due to step down on the same date. He will remain to support her until he officially retires in June.

AFE50 companies adapt to COVID-19 challenges

Europe’s largest finance companies and their subsidiaries have set out their responses to the COVID-19 pandemic. Organisations across the continent have published their intentions to assist clients that face lengthy periods without trading as the crisis accelerates.

AFE50 companies adapt to COVID-19 challenges

Mar 30, 2020

Europe’s largest finance companies and their subsidiaries have set out their responses to the COVID-19 pandemic. Organisations across the continent have published their intentions to assist clients that face lengthy periods without trading as the crisis accelerates.

Scams and cashflow challenges spark worry for UK small businesses as pandemic continues

Small and medium-sized businesses (SMEs) are finding it progressively harder to stay afloat amid the COVID-19 pandemic, especially those in the hospitality and retail sectors, according to Chirag Shah (pictured above), chief executive officer at Nucleus Commercial Finance. He stressed: “The government has a vital role to play in supporting SMEs across the country, and the recent announcement of £330 billion of government-backed loans demonstrates the Chancellor’s commitment to doing just that. Supporting UK businesses is vital to the growth of our economy, and we hope that these measures will provide British businesses with the support they need at this challenging time.”

Scams and cashflow challenges spark worry for UK small businesses as pandemic continues

Mar 27, 2020

Small and medium-sized businesses (SMEs) are finding it progressively harder to stay afloat amid the COVID-19 pandemic, especially those in the hospitality and retail sectors, according to Chirag Shah (pictured above), chief executive officer at Nucleus Commercial Finance. He stressed: “The government has a vital role to play in supporting SMEs across the country, and the recent announcement of £330 billion of government-backed loans demonstrates the Chancellor’s commitment to doing just that. Supporting UK businesses is vital to the growth of our economy, and we hope that these measures will provide British businesses with the support they need at this challenging time.”

FLA gauges initial impact of pandemic on lenders

Ramping up their ever-present contact with members, government departments and regulators, the Finance & Leasing Association (FLA) is shifting the focus of its work onto gathering intelligence on how the industry is reacting to the COVID-19 pandemic in order to better position themselves to support it. According to Simon Goldie, head of asset finance at the FLA, this reflects the fact that things are changing on a daily basis with each new government announcement, and the association is “working hard to make sure it understands everything that’s being put out, that it is communicating it back to its members, and seeing if there are areas that can be improved.”

FLA gauges initial impact of pandemic on lenders

Mar 27, 2020

Ramping up their ever-present contact with members, government departments and regulators, the Finance & Leasing Association (FLA) is shifting the focus of its work onto gathering intelligence on how the industry is reacting to the COVID-19 pandemic in order to better position themselves to support it. According to Simon Goldie, head of asset finance at the FLA, this reflects the fact that things are changing on a daily basis with each new government announcement, and the association is “working hard to make sure it understands everything that’s being put out, that it is communicating it back to its members, and seeing if there are areas that can be improved.”

Close Brothers Asset Finance combines tradition and technology as it builds a platform for growth

The Coronavirus epidemic has thrown into sharp focus the vital importance of businesses being agile and able to adapt to change in both the long and short-term. Business leaders have had to respond quickly and think differently about how they run their operations and, for the most innovative companies, this has played to their strengths. At Close Brothers Asset Finance, adapting to change is part of the culture; the business prioritises close industry relationships so it can respond as markets develop and change, ensuring its products and services meet customer needs and the business remains resilient. Asset Finance International caught up with chief executive officer Neil Davies (pictured) as the business engaged new working methods in response to the virus by getting employees to work from home, where possible, increasing video and telephone conferencing, and limiting travel between the offices that remain open, while maintaining high service levels in response to customer needs.

Close Brothers Asset Finance combines tradition and technology as it builds a platform for growth

Mar 24, 2020

The Coronavirus epidemic has thrown into sharp focus the vital importance of businesses being agile and able to adapt to change in both the long and short-term. Business leaders have had to respond quickly and think differently about how they run their operations and, for the most innovative companies, this has played to their strengths. At Close Brothers Asset Finance, adapting to change is part of the culture; the business prioritises close industry relationships so it can respond as markets develop and change, ensuring its products and services meet customer needs and the business remains resilient. Asset Finance International caught up with chief executive officer Neil Davies (pictured) as the business engaged new working methods in response to the virus by getting employees to work from home, where possible, increasing video and telephone conferencing, and limiting travel between the offices that remain open, while maintaining high service levels in response to customer needs.

 

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Finance companies warned against relying on outdated technology

Finance companies are taking too many risks by relying on legacy software systems that are up to a...

Bluestar Leasing implements enhanced cyber security

Asset finance and commercial loans provider Bluestar Leasing has invested in a suite of managed IT...

 

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