IDS appoints David Hamilton as CEO

International Decision Systems (IDS), the global provider of equipment finance software, has appointed David Hamilton as chief executive officer. Hamilton is the former president of SunGard Financial System’s global banking business, where he led an international team delivering retail, corporate and private banking solutions to more than 1,200 banks worldwide. He will lead IDS on the company’s next phase of growth as it enhances its InfoLease and Rapport solutions and delivers advanced cloud-based services to the industry.

IDS appoints David Hamilton as CEO

Feb 23, 2018

International Decision Systems (IDS), the global provider of equipment finance software, has appointed David Hamilton as chief executive officer. Hamilton is the former president of SunGard Financial System’s global banking business, where he led an international team delivering retail, corporate and private banking solutions to more than 1,200 banks worldwide. He will lead IDS on the company’s next phase of growth as it enhances its InfoLease and Rapport solutions and delivers advanced cloud-based services to the industry.

RCI Bank and Services breaks record as auto finance exceeds €20bn

RCI Bank and Services financed more than 1.7 million vehicles last year as demand leapt 13.2% compared to 2016. It wrote 1,771,000 new financing contracts worth €20.6 billion for new and used vehicles during the year, with an average penetration rate of 42.6%. Group pre-tax income rose 18.1% year-on-year to €1.077 billion, supported by reduced operating costs. RCI Bank and Services is the commercial identity of RCI Banque.

RCI Bank and Services breaks record as auto finance exceeds €20bn

Feb 21, 2018

RCI Bank and Services financed more than 1.7 million vehicles last year as demand leapt 13.2% compared to 2016. It wrote 1,771,000 new financing contracts worth €20.6 billion for new and used vehicles during the year, with an average penetration rate of 42.6%. Group pre-tax income rose 18.1% year-on-year to €1.077 billion, supported by reduced operating costs. RCI Bank and Services is the commercial identity of RCI Banque.

Bibby Financial Services expands trade finance service

Bibby Financial Services (BFS), the UK’s largest independent invoice financier, has extended its trade finance service to include invoice discounting for smaller businesses. The new proposition will apply to companies with turnover of up to £5 million. BFS already offers invoice discounting on trade finance for corporate businesses with turnover in excess of £5 million.

Bibby Financial Services expands trade finance service

Feb 21, 2018

Bibby Financial Services (BFS), the UK’s largest independent invoice financier, has extended its trade finance service to include invoice discounting for smaller businesses. The new proposition will apply to companies with turnover of up to £5 million. BFS already offers invoice discounting on trade finance for corporate businesses with turnover in excess of £5 million.

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Auto Lenders Guide: Creating New Revenue Streams with AI

A McKinsey AI report from January 2018 reveals an industry-wide AI-enabled value opportunity, which by 2025 is expected to generate an estimated US$215bn. However, how much of that potential can be captured by automotive finance companies? Connected cars are now poised to become the next digital wallet, allowing different institutions to connect with their customers to pay for goods and services all directly from the dashboard. This will provide Auto Finance lenders the potential to radically alter their relationship with their customers.

Auto Lenders Guide: Creating New Revenue Streams with AI

Feb 20, 2018

A McKinsey AI report from January 2018 reveals an industry-wide AI-enabled value opportunity, which by 2025 is expected to generate an estimated US$215bn. However, how much of that potential can be captured by automotive finance companies? Connected cars are now poised to become the next digital wallet, allowing different institutions to connect with their customers to pay for goods and services all directly from the dashboard. This will provide Auto Finance lenders the potential to radically alter their relationship with their customers.

 

Opel Vauxhall Finance targets market share increase of 50% in two years

Opel Vauxhall Finance has launched its strategic plan for growth following its acquisition by BNP Paribas and Groupe PSA. Under the plan, the captive finance organisation aims to finance every third Opel vehicle by 2020, a 50% increase compared to 2017. Opel Vauxhall Finance (OVF), the automotive finance organisation of Opel and Vauxhall, trades under brands including Opel Bank, Opel Financial Services and Vauxhall Finance. It will focus on launching new automotive finance solutions across Europe as well as expanding into new customer segments and markets.

Opel Vauxhall Finance targets market share increase of 50% in two years

Feb 21, 2018

Opel Vauxhall Finance has launched its strategic plan for growth following its acquisition by BNP Paribas and Groupe PSA. Under the plan, the captive finance organisation aims to finance every third Opel vehicle by 2020, a 50% increase compared to 2017. Opel Vauxhall Finance (OVF), the automotive finance organisation of Opel and Vauxhall, trades under brands including Opel Bank, Opel Financial Services and Vauxhall Finance. It will focus on launching new automotive finance solutions across Europe as well as expanding into new customer segments and markets.

Finance with a personal touch retains importance in digital age

UK businesses prioritise strong personal relationships and sector expertise when choosing equipment finance providers, just as much as they value competitive rates, according to industry executives. Companies have revealed that straightforward application processes and direct links to someone who understands their business remain vitally important, despite the increasing use of technology in lending. This is particularly the case for small to medium-sized enterprises (SMEs), who need expert guidance about making long-term financial commitments. This means that lenders could gain a competitive edge by maintaining a human touch, while at the same time using digitalisation to simplify the lending process and accelerate decision-making.

Finance with a personal touch retains importance in digital age

Feb 21, 2018

UK businesses prioritise strong personal relationships and sector expertise when choosing equipment finance providers, just as much as they value competitive rates, according to industry executives. Companies have revealed that straightforward application processes and direct links to someone who understands their business remain vitally important, despite the increasing use of technology in lending. This is particularly the case for small to medium-sized enterprises (SMEs), who need expert guidance about making long-term financial commitments. This means that lenders could gain a competitive edge by maintaining a human touch, while at the same time using digitalisation to simplify the lending process and accelerate decision-making.

Positive growth for asset finance reported by British Business Bank

There is strong growth in demand for alternative finance from UK small businesses in a sign that they are diversifying their search for funding, according to a new report. The British Business Bank’s 2018 Small Business Finance Markets report reveals that while major banks are still the dominant channel for funding, the value of SME asset finance deals rose 12% in 2017 compared to 2016, while the value of peer-to-peer business jumped 51% over the same period. Entrepreneurial activity in the UK remains strong, with a highest-ever population of 5.7 million companies at the start of 2017, including a record number of new businesses created at around 414,000. The British Business Bank is the UK’s national economic development bank. It was established in 2014 to make finance markets for smaller businesses work more effectively.

Positive growth for asset finance reported by British Business Bank

Feb 20, 2018

There is strong growth in demand for alternative finance from UK small businesses in a sign that they are diversifying their search for funding, according to a new report. The British Business Bank’s 2018 Small Business Finance Markets report reveals that while major banks are still the dominant channel for funding, the value of SME asset finance deals rose 12% in 2017 compared to 2016, while the value of peer-to-peer business jumped 51% over the same period. Entrepreneurial activity in the UK remains strong, with a highest-ever population of 5.7 million companies at the start of 2017, including a record number of new businesses created at around 414,000. The British Business Bank is the UK’s national economic development bank. It was established in 2014 to make finance markets for smaller businesses work more effectively.

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Industry leaders invited to sign-up to new cybersecurity charter

The leaders of some of the world’s biggest companies have signed a joint charter agreeing to set tough standards for cybersecurity The Charter of Trust, an initiative initiated by Siemens, calls for binding rules and standards to build trust in cybersecurity and further advance digitalisation. Other signatories of the charter include Airbus, Allianz, Daimler Group, IBM, NXP, SGS and Deutsche Telekom. The initiative, announced at the Munich Security Conference, was witnessed by EU commissioner Elżbieta Bieńkowska.

Industry leaders invited to sign-up to new cybersecurity charter

Feb 20, 2018

The leaders of some of the world’s biggest companies have signed a joint charter agreeing to set tough standards for cybersecurity The Charter of Trust, an initiative initiated by Siemens, calls for binding rules and standards to build trust in cybersecurity and further advance digitalisation. Other signatories of the charter include Airbus, Allianz, Daimler Group, IBM, NXP, SGS and Deutsche Telekom. The initiative, announced at the Munich Security Conference, was witnessed by EU commissioner Elżbieta Bieńkowska.

Aldermore praised for flexibility in finance deal

Specialist bank Aldermore has been praised for its flexibility in arranging a £6 million lending facility for a UK company. John Hargreaves (C&H), a family-owned cardboard manufacturer, has agreed a full asset-based lending facility to drive expansion. The company specialises in the manufacturing of corrugated cardboard for end-users including packaging specialists, box manufacturers, exporters and storage, and freighting contractors.

Aldermore praised for flexibility in finance deal

Feb 20, 2018

Specialist bank Aldermore has been praised for its flexibility in arranging a £6 million lending facility for a UK company. John Hargreaves (C&H), a family-owned cardboard manufacturer, has agreed a full asset-based lending facility to drive expansion. The company specialises in the manufacturing of corrugated cardboard for end-users including packaging specialists, box manufacturers, exporters and storage, and freighting contractors.

European true fleet market delivers strong 2017 performance – but UK lags behind

True fleet car registrations grew in four out of five of the biggest markets in Europe last year, with the UK the only exception as sales struggled amid the ongoing uncertainties of Brexit. By contrast, true fleet sales in France, Germany, Italy and Spain reached record levels, according to figures from European fleet market data and automotive intelligence solutions provider Dataforce. Its analysis relates to end-user fleet sales, excluding rental and OEM self-registrations, for companies of all sizes, covering businesses that operate just a single vehicle through to Europe’s largest company car fleets.

European true fleet market delivers strong 2017 performance – but UK lags behind

Feb 19, 2018

True fleet car registrations grew in four out of five of the biggest markets in Europe last year, with the UK the only exception as sales struggled amid the ongoing uncertainties of Brexit. By contrast, true fleet sales in France, Germany, Italy and Spain reached record levels, according to figures from European fleet market data and automotive intelligence solutions provider Dataforce. Its analysis relates to end-user fleet sales, excluding rental and OEM self-registrations, for companies of all sizes, covering businesses that operate just a single vehicle through to Europe’s largest company car fleets.

 

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LeasePlan considers flotation following record year

Global vehicle management and mobility company LeasePlan is investigating a stock market flotation after record results for the business. The underlying 2017 net result at the leasing giant increased 17% to €532 million ($657 million), while its serviced fleet increased 5.5% to 1.7 million vehicles. A flotation is one of several strategic options for the business, but if approved a listing on the Amsterdam stock exchange could take place as early as June. LeasePlan, which had revenues of €9.4 billion ($11.6 billion) last year, is reshaping itself as a ‘Car-as-a-Service’ provider, offering a variety of services in addition to leasing, including subscription packages that provide access to new and used cars.

LeasePlan considers flotation following record year

Feb 19, 2018

Global vehicle management and mobility company LeasePlan is investigating a stock market flotation after record results for the business. The underlying 2017 net result at the leasing giant increased 17% to €532 million ($657 million), while its serviced fleet increased 5.5% to 1.7 million vehicles. A flotation is one of several strategic options for the business, but if approved a listing on the Amsterdam stock exchange could take place as early as June. LeasePlan, which had revenues of €9.4 billion ($11.6 billion) last year, is reshaping itself as a ‘Car-as-a-Service’ provider, offering a variety of services in addition to leasing, including subscription packages that provide access to new and used cars.

EV leasing service to power next stage of Arval’s fleet growth

Vehicle funding and management company Arval is launching a new electric vehicle leasing service across Europe as part of its growth strategy for 2018 and beyond. The announcement comes on the back of strong fleet growth of 7.4% in 2017 that saw its fleet reach more than 1.1 million vehicles globally. The strongest growth came in France (+5%), Italy (+10%) and Spain (+15%), as well as double-digit growth in countries including Austria (+10%), Belgium (+12%), Czech Republic (+12%), Luxembourg (+22%), Poland (+19%), Russia (+12%), Turkey (+16%) and the Latin America region (+13%). Arval also expanded its global network with a launch in Norway during 2017, which leads the adoption of low-emission vehicles in Europe. Alternative fuel vehicles accounted for 52% of total car sales in Norway last year.

EV leasing service to power next stage of Arval’s fleet growth

Feb 19, 2018

Vehicle funding and management company Arval is launching a new electric vehicle leasing service across Europe as part of its growth strategy for 2018 and beyond. The announcement comes on the back of strong fleet growth of 7.4% in 2017 that saw its fleet reach more than 1.1 million vehicles globally. The strongest growth came in France (+5%), Italy (+10%) and Spain (+15%), as well as double-digit growth in countries including Austria (+10%), Belgium (+12%), Czech Republic (+12%), Luxembourg (+22%), Poland (+19%), Russia (+12%), Turkey (+16%) and the Latin America region (+13%). Arval also expanded its global network with a launch in Norway during 2017, which leads the adoption of low-emission vehicles in Europe. Alternative fuel vehicles accounted for 52% of total car sales in Norway last year.

City of London Group names leadership team for new banking venture

City of London Group has announced the senior team that will lead the creation of a new UK challenger bank. It has announced a formal agreement with the team, comprising Jason Oakley (pictured above), Adrian Golumbina and Bryce Glover. Oakley built the lending business of Metro Bank, as managing director commercial banking and mortgages ,from £65m to over £2.5bn in less than three years. Prior to this he was head of SME for NatWest and RBS, with more than 3,000 relationship managers looking after one million clients and in excess of £1 billion of revenue.

City of London Group names leadership team for new banking venture

Feb 09, 2018

City of London Group has announced the senior team that will lead the creation of a new UK challenger bank. It has announced a formal agreement with the team, comprising Jason Oakley (pictured above), Adrian Golumbina and Bryce Glover. Oakley built the lending business of Metro Bank, as managing director commercial banking and mortgages ,from £65m to over £2.5bn in less than three years. Prior to this he was head of SME for NatWest and RBS, with more than 3,000 relationship managers looking after one million clients and in excess of £1 billion of revenue.

Fleets briefed on future transport at CLM electric vehicle experience day

Fleet solutions provider CLM has partnered with Renault and charging solutions provider Chargemaster to brief UK fleet operators on the future of electric vehicles. The day included advice on EV management, running costs and hands-on testing of a range of Renault zero-emission vehicles. Renault brought along a number of EVs for testing, including the ZOE, Twizy and Kangoo ZE van.

Fleets briefed on future transport at CLM electric vehicle experience day

Feb 09, 2018

Fleet solutions provider CLM has partnered with Renault and charging solutions provider Chargemaster to brief UK fleet operators on the future of electric vehicles. The day included advice on EV management, running costs and hands-on testing of a range of Renault zero-emission vehicles. Renault brought along a number of EVs for testing, including the ZOE, Twizy and Kangoo ZE van.

Metro Bank expands with 900 new jobs in 2018

Metro Bank plans to create 900 new jobs in 2018 in a move which will take its UK workforce to almost 4,000. A key area of investment will be its apprenticeship scheme, which has around 100 places available. Last year, the bank became a certified employer provider, meaning that as well as hiring apprentices, it also delivers apprenticeship training through its dedicated in-house facility, Metro Bank University.

Metro Bank expands with 900 new jobs in 2018

Feb 09, 2018

Metro Bank plans to create 900 new jobs in 2018 in a move which will take its UK workforce to almost 4,000. A key area of investment will be its apprenticeship scheme, which has around 100 places available. Last year, the bank became a certified employer provider, meaning that as well as hiring apprentices, it also delivers apprenticeship training through its dedicated in-house facility, Metro Bank University.

Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Feb 09, 2018

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

UK asset finance market breaks records

Asset finance new business reached record levels in 2017 following growth of 5% during the year, according to the latest figures from the UK's Finance & Leasing Association (FLA). The sector achieved its seventh consecutive year of growth, with new business levels reaching almost £32 billion last year. The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.

UK asset finance market breaks records

Feb 09, 2018

Asset finance new business reached record levels in 2017 following growth of 5% during the year, according to the latest figures from the UK's Finance & Leasing Association (FLA). The sector achieved its seventh consecutive year of growth, with new business levels reaching almost £32 billion last year. The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.

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