BMW and Hyundai join fast-growing subscription startup partnership

BMW has become the latest OEM to partner with the relatively new subscription startup ViveLaCar, following the lead of Hyundai last month. The Stuttgart-based auto subscription platform officially launched mid-last year and wasted little time in gaining the approval of Hyundai on May 5, which has helped carry the product to Austria in the company’s first national expansion. Martin Rada, managing director of ViveLaCar Austria, said: “Today's customers expect simple digital processes and personal service, and ViveLaCar combines both. We bring subscribers and dealers together. For many customers, it is important to have a personal contact person, who can be found in the Hyundai dealership”

BMW and Hyundai join fast-growing subscription startup partnership

Jun 04, 2020

BMW has become the latest OEM to partner with the relatively new subscription startup ViveLaCar, following the lead of Hyundai last month. The Stuttgart-based auto subscription platform officially launched mid-last year and wasted little time in gaining the approval of Hyundai on May 5, which has helped carry the product to Austria in the company’s first national expansion. Martin Rada, managing director of ViveLaCar Austria, said: “Today's customers expect simple digital processes and personal service, and ViveLaCar combines both. We bring subscribers and dealers together. For many customers, it is important to have a personal contact person, who can be found in the Hyundai dealership”

COVID-related financial crime nears two million global cases, but AI could help

As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage. According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of April 2020, with the daily increase rate appearing to peak in mid-April, nearing 100,000 new cases a day. However, this seems to have lowered to 71,042 new cases a day at the end of April.

COVID-related financial crime nears two million global cases, but AI could help

May 29, 2020

As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage. According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of April 2020, with the daily increase rate appearing to peak in mid-April, nearing 100,000 new cases a day. However, this seems to have lowered to 71,042 new cases a day at the end of April.

Experts to examine how finance and technology ecosystems will deliver future asset finance growth

Business leaders can learn how technology and customers ecosystems can deliver significant benefits in a new online seminar. The event, which takes place at Wednesday April 29, 2020, will look at how digitalisation is changing the way companies are doing business, as they embrace networks of specialist suppliers that work together to build ecosystems for delivering products and experiences. Typically, companies that embrace this approach outperform those that try to go it alone. The online event will be led by David Betteley, former global head of financial services for Jaguar Land Rover.

Experts to examine how finance and technology ecosystems will deliver future asset finance growth

Apr 24, 2020

Business leaders can learn how technology and customers ecosystems can deliver significant benefits in a new online seminar. The event, which takes place at Wednesday April 29, 2020, will look at how digitalisation is changing the way companies are doing business, as they embrace networks of specialist suppliers that work together to build ecosystems for delivering products and experiences. Typically, companies that embrace this approach outperform those that try to go it alone. The online event will be led by David Betteley, former global head of financial services for Jaguar Land Rover.

Onguard introduces machine learning to predict payment behaviour

Fintech company Onguard is collaborating on a new service to be launched next year that will use machine learning to predict customer payment behaviour. The new platform will combine historical data from Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and a machine-learning based scorecard from Quantforce, based on invoice and payment history. Debtors can be ranked in order of the risk of non-payment, which enables finance companies to introduce planning at an early stage using automated workflows.

Onguard introduces machine learning to predict payment behaviour

Dec 02, 2019

Fintech company Onguard is collaborating on a new service to be launched next year that will use machine learning to predict customer payment behaviour. The new platform will combine historical data from Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and a machine-learning based scorecard from Quantforce, based on invoice and payment history. Debtors can be ranked in order of the risk of non-payment, which enables finance companies to introduce planning at an early stage using automated workflows.

NETSOL secures $4 million contract with UK vehicle finance company

NETSOL Technologies has signed a new multi-million-dollar contract with a large independent used vehicle finance company in the UK. The UK contract will include the implementation of NETSOL's NFS Ascent wholesale finance platform and is expected to be worth $4 million. The name of the client is not being made public.

NETSOL secures $4 million contract with UK vehicle finance company

Jul 29, 2019

NETSOL Technologies has signed a new multi-million-dollar contract with a large independent used vehicle finance company in the UK. The UK contract will include the implementation of NETSOL's NFS Ascent wholesale finance platform and is expected to be worth $4 million. The name of the client is not being made public.

Rallying the industry: Hitachi Capital and Intrador move to assist clients with technology

With the pandemic causing lockdown, Hitachi Capital has reacted quickly to ensure its customers can successfully apply for loans remotely, quickly and easily. At origination stage the identity of the applicant was typically performed by Hitachi Capital’s experienced ‘introducers’, in-person. However, since the introduction of social distancing in the UK this approach has no longer been possible, yet business owners still require Hitachi Capital as a key financing partner. As a result, the company has turned to Nomidio for remote identity verification to keep loan applications flowing. In the four-week period since social distancing was originally introduced Hitachi Capital has seen a four-fold increase in demand for remote identity verification using Nomidio.

Rallying the industry: Hitachi Capital and Intrador move to assist clients with technology

Apr 22, 2020

With the pandemic causing lockdown, Hitachi Capital has reacted quickly to ensure its customers can successfully apply for loans remotely, quickly and easily. At origination stage the identity of the applicant was typically performed by Hitachi Capital’s experienced ‘introducers’, in-person. However, since the introduction of social distancing in the UK this approach has no longer been possible, yet business owners still require Hitachi Capital as a key financing partner. As a result, the company has turned to Nomidio for remote identity verification to keep loan applications flowing. In the four-week period since social distancing was originally introduced Hitachi Capital has seen a four-fold increase in demand for remote identity verification using Nomidio.

LTi Technology Solutions supports Class 8 Funding with ASPIRE platform

Equipment finance software solutions company LTi Technology Solutions is providing its ASPIRE platform to Class 8 Funding to support its future growth. Built on a cloud-based ecosystem, ASPIRE gives Class 8 Funding the flexibility to streamline its business operations with integrations from PayNet or credit decisioning into one solution. Class 8 Funding is a US truck finance company founded in 2019 that helps small to medium sized fleets to meet their finance needs.

LTi Technology Solutions supports Class 8 Funding with ASPIRE platform

Apr 20, 2020

Equipment finance software solutions company LTi Technology Solutions is providing its ASPIRE platform to Class 8 Funding to support its future growth. Built on a cloud-based ecosystem, ASPIRE gives Class 8 Funding the flexibility to streamline its business operations with integrations from PayNet or credit decisioning into one solution. Class 8 Funding is a US truck finance company founded in 2019 that helps small to medium sized fleets to meet their finance needs.

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.

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.

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.

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 quarter of a century old. The warning comes from industry veteran Keith Allen, who has joined fleet, leasing and mobility platform provider Bynx as a consultant. Allen (pictured) has more than 25 years’ experience in vehicle financing and asset management, including managing director of ALD in the UK, one of the country’s biggest leasing companies. His most recent role was managing director of ARI Fleet UK.

Finance companies warned against relying on outdated technology

Mar 24, 2020

Finance companies are taking too many risks by relying on legacy software systems that are up to a quarter of a century old. The warning comes from industry veteran Keith Allen, who has joined fleet, leasing and mobility platform provider Bynx as a consultant. Allen (pictured) has more than 25 years’ experience in vehicle financing and asset management, including managing director of ALD in the UK, one of the country’s biggest leasing companies. His most recent role was managing director of ARI Fleet UK.

Bluestar Leasing implements enhanced cyber security

Asset finance and commercial loans provider Bluestar Leasing has invested in a suite of managed IT services and cyber security solutions to drive business growth. The UK-based company provides financing for innovative sectors including drones and digital marketing, and plans to expand its offering through new partnerships with IT companies. Bluestar Leasing worked with technology partner OGL Computer to update its IT support and introduce Carbon Black, an anti-virus software system from CyberGuard technologies, to manage security risks.

Bluestar Leasing implements enhanced cyber security

Mar 24, 2020

Asset finance and commercial loans provider Bluestar Leasing has invested in a suite of managed IT services and cyber security solutions to drive business growth. The UK-based company provides financing for innovative sectors including drones and digital marketing, and plans to expand its offering through new partnerships with IT companies. Bluestar Leasing worked with technology partner OGL Computer to update its IT support and introduce Carbon Black, an anti-virus software system from CyberGuard technologies, to manage security risks.

EPAM seeks to predict the future of connected cars and their impact on the auto industry

With the vast majority of drivers unaware of the amounts of data being harvested from their cars and how it will all be used, it is left to the EU’s General Data Protection Regulation (GDPR) to take care of the legalities. However, it seems that many people are beginning to take notice of the collection and use of their personal data and an argument has surfaced over who should control it. Furthermore, the automotive industry has surged forward in terms of the adoption of technology in recent years with new innovative services constantly breaking into the market, and for the most part it remains unclear how concepts like the connected car will affect how cars are bought and sold in the future. In an effort to clear the waters a little, Asset Finance International spoke to EPAM Systems, the service, design and digital platform engineering specialists, to discuss the future of connected vehicles.

EPAM seeks to predict the future of connected cars and their impact on the auto industry

Mar 23, 2020

With the vast majority of drivers unaware of the amounts of data being harvested from their cars and how it will all be used, it is left to the EU’s General Data Protection Regulation (GDPR) to take care of the legalities. However, it seems that many people are beginning to take notice of the collection and use of their personal data and an argument has surfaced over who should control it. Furthermore, the automotive industry has surged forward in terms of the adoption of technology in recent years with new innovative services constantly breaking into the market, and for the most part it remains unclear how concepts like the connected car will affect how cars are bought and sold in the future. In an effort to clear the waters a little, Asset Finance International spoke to EPAM Systems, the service, design and digital platform engineering specialists, to discuss the future of connected vehicles.

Audit Resource Technology’s Christian Pawsey tells how the company plans to digitalise the automotive stock auditing process

Audit Resource Technology TKS (ART-TKS) is on the expansion trail. The company was established in the UK in 2018 and specialises in digitalising the automotive stock auditing process. At a time when many captive and independent auto finance companies retain legacy auditing systems, including the use of manual clipboards for some, ART-TKS uses its own software, FOCUS, to provide secure, real-time visibility and transparency, saving valuable time and money throughout the stock and asset-auditing process. ART-TKS is part of the TKS Group, which is based in Spain. ART-TKS’s director and founder, Christian Pawsey (pictured), is a close associate of Luis Beneytez, who established Grupo TKS in 2006 to deliver auditing and compliance solutions throughout Europe.

Audit Resource Technology’s Christian Pawsey tells how the company plans to digitalise the automotive stock auditing process

Mar 03, 2020

Audit Resource Technology TKS (ART-TKS) is on the expansion trail. The company was established in the UK in 2018 and specialises in digitalising the automotive stock auditing process. At a time when many captive and independent auto finance companies retain legacy auditing systems, including the use of manual clipboards for some, ART-TKS uses its own software, FOCUS, to provide secure, real-time visibility and transparency, saving valuable time and money throughout the stock and asset-auditing process. ART-TKS is part of the TKS Group, which is based in Spain. ART-TKS’s director and founder, Christian Pawsey (pictured), is a close associate of Luis Beneytez, who established Grupo TKS in 2006 to deliver auditing and compliance solutions throughout Europe.

Bynx launches enhanced e-signature technology to improve security and compliance

Vehicle leasing, fleet and mobility management technology provider Bynx has enhanced its digital signature capabilities. Digital signatures, provided by Adobe Sign, offer several advantages over other types of signature. Benefits include enhanced security, global acceptance, legal compliance, improved efficiency and better customer service.

Bynx launches enhanced e-signature technology to improve security and compliance

Feb 26, 2020

Vehicle leasing, fleet and mobility management technology provider Bynx has enhanced its digital signature capabilities. Digital signatures, provided by Adobe Sign, offer several advantages over other types of signature. Benefits include enhanced security, global acceptance, legal compliance, improved efficiency and better customer service.