Major milestone for iVendi as it signs international deal

iVendi, the provider of specialist e-commerce solutions to the car finance sector, has secured its first major international deal with the introduction of a complete online marketplace for Hamburg-based Bank Deutsches Kraftfahrzeuggewerbe (BDK). BDK is a subsidiary of Société Générale that serves around one-quarter of all car dealers in Germany. It offers a product range including dealer financing, retail loan and retail leasing business for new and used cars, along with insurance and warranty products.

Major milestone for iVendi as it signs international deal

Feb 15, 2019

iVendi, the provider of specialist e-commerce solutions to the car finance sector, has secured its first major international deal with the introduction of a complete online marketplace for Hamburg-based Bank Deutsches Kraftfahrzeuggewerbe (BDK). BDK is a subsidiary of Société Générale that serves around one-quarter of all car dealers in Germany. It offers a product range including dealer financing, retail loan and retail leasing business for new and used cars, along with insurance and warranty products.

Microsoft partners with Moovit and TomTom to create new enhanced mobility information platform

A single mobility solution will bring together a full range of transport options for city travellers as part of a partnership between global technology giant Microsoft, mobility information service Moovit and TomTom. The trip planner identifies all driving, parking, and public transit options, which are aggregated into a single package for map users. It is aimed at supporting developers building new smartphone apps or services that help consumers to plan urban travel.

Microsoft partners with Moovit and TomTom to create new enhanced mobility information platform

Feb 15, 2019

A single mobility solution will bring together a full range of transport options for city travellers as part of a partnership between global technology giant Microsoft, mobility information service Moovit and TomTom. The trip planner identifies all driving, parking, and public transit options, which are aggregated into a single package for map users. It is aimed at supporting developers building new smartphone apps or services that help consumers to plan urban travel.

 

How BMW is delivering a new era of urban mobility solutions

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.

How BMW is delivering a new era of urban mobility solutions

Feb 13, 2019

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.

 
 

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Mining data: how successful is the asset finance industry at striking gold?

Changing customer expectations are reshaping the asset finance industry. As Jochen Jehmlich, CEO, Societe Generale Equipment Finance (SGEF), points out, the key trend is a strong move away from traditional acquisition of equipment towards a usage and service-based approach, supported by innovations in technology. Disruptive start-ups such as ride hailing service Uber have led the way on this, but the switch from a focus on owning equipment to wanting to pay for outcomes is spreading, facilitated by the use of data collected from connected devices as part of the Internet of Things (IoT). Having a network of devices fitted to equipment and vehicles allows vendors, users and lenders to connect, interact and exchange data.

Mining data: how successful is the asset finance industry at striking gold?

Feb 12, 2019

Changing customer expectations are reshaping the asset finance industry. As Jochen Jehmlich, CEO, Societe Generale Equipment Finance (SGEF), points out, the key trend is a strong move away from traditional acquisition of equipment towards a usage and service-based approach, supported by innovations in technology. Disruptive start-ups such as ride hailing service Uber have led the way on this, but the switch from a focus on owning equipment to wanting to pay for outcomes is spreading, facilitated by the use of data collected from connected devices as part of the Internet of Things (IoT). Having a network of devices fitted to equipment and vehicles allows vendors, users and lenders to connect, interact and exchange data.

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Prudential launches 2019 PRU Fintegrate programme in London to drive international insurance innovation

Prudential Singapore has launched the third edition of its PRU Fintegrate innovation programme to develop new solutions for the insurance industry. As part of the initiative, Prudential will invest alongside its chosen scale-up partners to run pilot projects and develop implementation and deployment plans. At the launch of the 2019 programme, taking place in London for the first time, the selected technology partners from PRU Fintegrate 2018 were showcased; Ailleron LiveBank LiveBank, a customer engagement platform; Knowtions Research, a health analytics solution; and DataRobot, an automated machine learning platform.

Prudential launches 2019 PRU Fintegrate programme in London to drive international insurance innovation

Feb 15, 2019

Prudential Singapore has launched the third edition of its PRU Fintegrate innovation programme to develop new solutions for the insurance industry. As part of the initiative, Prudential will invest alongside its chosen scale-up partners to run pilot projects and develop implementation and deployment plans. At the launch of the 2019 programme, taking place in London for the first time, the selected technology partners from PRU Fintegrate 2018 were showcased; Ailleron LiveBank LiveBank, a customer engagement platform; Knowtions Research, a health analytics solution; and DataRobot, an automated machine learning platform.

BMW hosts first European meeting for Mobility Open Blockchain Initiative

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

BMW hosts first European meeting for Mobility Open Blockchain Initiative

Feb 14, 2019

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

Macquarie deal crowns “year of success” for Apak Group

2018 was a significant year for Apak Group. For that was the year, resulting from 10-years of pioneering, and cutting its worldwide footprint, that it truly became a global specialist financial services provider. The company also began a new chapter of its history, with new ownership. To crown the year of success, in late December, Apak announced that it had completed the implementation of its Wholesale Finance Floorplanning Software WFSv6 with Macquarie Leasing Australia. Macquarie Leasing Australia is the latest organisation to operate its bailment (floorplan) facilities on WFSv6 within the Asia and Pacific region.

Macquarie deal crowns “year of success” for Apak Group

Feb 12, 2019

2018 was a significant year for Apak Group. For that was the year, resulting from 10-years of pioneering, and cutting its worldwide footprint, that it truly became a global specialist financial services provider. The company also began a new chapter of its history, with new ownership. To crown the year of success, in late December, Apak announced that it had completed the implementation of its Wholesale Finance Floorplanning Software WFSv6 with Macquarie Leasing Australia. Macquarie Leasing Australia is the latest organisation to operate its bailment (floorplan) facilities on WFSv6 within the Asia and Pacific region.

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After the Dealflo acquisition, OneSpan aims for growth in the auto and asset finance sectors

Last May (2018) Vasco Data Security acquired UK-based Dealflo in a cash deal worth £41 million. At the same time it made two significant announcements – the launch of its Trusted Identity Platform and a change to its corporate name from Vasco to OneSpan. The moves were led by OneSpan’s chief executive Scott Clements, who joined the company in 2015, was appointed chief operating officer in 2016, and subsequently CEO in July 2017. Prior to joining Vasco he headed up the retail solutions business at Tyco International where he was the chief technology officer and latterly the corporate senior vice president in charge of business development.

After the Dealflo acquisition, OneSpan aims for growth in the auto and asset finance sectors

Feb 11, 2019

Last May (2018) Vasco Data Security acquired UK-based Dealflo in a cash deal worth £41 million. At the same time it made two significant announcements – the launch of its Trusted Identity Platform and a change to its corporate name from Vasco to OneSpan. The moves were led by OneSpan’s chief executive Scott Clements, who joined the company in 2015, was appointed chief operating officer in 2016, and subsequently CEO in July 2017. Prior to joining Vasco he headed up the retail solutions business at Tyco International where he was the chief technology officer and latterly the corporate senior vice president in charge of business development.

Daimler Financial Services to rebrand as Daimler Mobility

Daimler Financial Services will rebrand as Daimler Mobility this year as demand for its wide portfolio of transport services increases. Senior executives announced the name change, likely to be introduced in July, as they revealed annual growth in revenues from traditional finance and new business channels last year.

Daimler Financial Services to rebrand as Daimler Mobility

Feb 12, 2019

Daimler Financial Services will rebrand as Daimler Mobility this year as demand for its wide portfolio of transport services increases. Senior executives announced the name change, likely to be introduced in July, as they revealed annual growth in revenues from traditional finance and new business channels last year.

Bank lending to UK small retailers falls 4% in just a year

UK bank lending to small and medium sized retail businesses has fallen by 4% in the last year, to £14.9 billion, new research from online business finance supermarket Funding Options has revealed. The fall for November 2018, from £15.6 billion for the same period in 2017, comes despite larger retailers seeing finance levels increase 5% to £37.7 billion over the same period.

Bank lending to UK small retailers falls 4% in just a year

Feb 12, 2019

UK bank lending to small and medium sized retail businesses has fallen by 4% in the last year, to £14.9 billion, new research from online business finance supermarket Funding Options has revealed. The fall for November 2018, from £15.6 billion for the same period in 2017, comes despite larger retailers seeing finance levels increase 5% to £37.7 billion over the same period.

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Mobility trend could see US auto retail sales fall 29%

Retail auto sales in the US could drop as much as 29% as alternatives to traditional vehicle ownership becomes more accessible and affordable, according to research from Cox Automotive. The third phase of its evolution of mobility study found nearly half of consumers surveyed believe car ownership is too expensive, while more one-third (36%) are interested in reducing the number of vehicles they own in the next five years. Currently, in a typical month, 93% of miles traveled are in a vehicle that someone personally owns, while ownership alternatives only account for 3%.

Mobility trend could see US auto retail sales fall 29%

Feb 11, 2019

Retail auto sales in the US could drop as much as 29% as alternatives to traditional vehicle ownership becomes more accessible and affordable, according to research from Cox Automotive. The third phase of its evolution of mobility study found nearly half of consumers surveyed believe car ownership is too expensive, while more one-third (36%) are interested in reducing the number of vehicles they own in the next five years. Currently, in a typical month, 93% of miles traveled are in a vehicle that someone personally owns, while ownership alternatives only account for 3%.

Amazon invests in self-driving vehicle startup

Online retail giant Amazon is one of several high-profile investors in self-driving startup Aurora. The new company has raised more than $530 million in its latest financing round for its Aurora Driver software and systems, which are designed to be used by vehicles from a range of manufacturers as they develop autonomous solutions. As well as Amazon, other backers of the tech startup, founded two years ago, include venture capital firm Sequoia and T. Rowe Price Group. This second round of funding for Aurora values the company at more than $2.5 billion.

Amazon invests in self-driving vehicle startup

Feb 11, 2019

Online retail giant Amazon is one of several high-profile investors in self-driving startup Aurora. The new company has raised more than $530 million in its latest financing round for its Aurora Driver software and systems, which are designed to be used by vehicles from a range of manufacturers as they develop autonomous solutions. As well as Amazon, other backers of the tech startup, founded two years ago, include venture capital firm Sequoia and T. Rowe Price Group. This second round of funding for Aurora values the company at more than $2.5 billion.

US independent lenders find higher returns in a smaller market

US independent financing companies have a smaller market share than 20 years ago but generate consistently higher yields and returns than either banks or captive lenders, according to a study from the Equipment Leasing and Finance Foundation. More than 20 independent finance company executives were interviewed for an examination of how independents have built their current success and are preparing for future events. The in-depth study, commissioned by the ELFF, was prepared by FIC Advisors and follows up on an earlier report published in 2011.

US independent lenders find higher returns in a smaller market

Feb 11, 2019

US independent financing companies have a smaller market share than 20 years ago but generate consistently higher yields and returns than either banks or captive lenders, according to a study from the Equipment Leasing and Finance Foundation. More than 20 independent finance company executives were interviewed for an examination of how independents have built their current success and are preparing for future events. The in-depth study, commissioned by the ELFF, was prepared by FIC Advisors and follows up on an earlier report published in 2011.

Ultimate Finance names Josh Levy as new CEO

Josh Levy has been appointed as chief executive officer of Ultimate Finance. He is already a board member of Ultimate Finance and takes over from Ron Robson, who has served as CEO since 2015 and guided the business to a record year in 2018.

Ultimate Finance names Josh Levy as new CEO

Feb 11, 2019

Josh Levy has been appointed as chief executive officer of Ultimate Finance. He is already a board member of Ultimate Finance and takes over from Ron Robson, who has served as CEO since 2015 and guided the business to a record year in 2018.

New ‘near-prime’ PCP accounts for half of business Startline writes with TrustFord Now

Startline Motor Finance has revealed that half the business it writes with TrustFord Now is based on the UK company’s ‘flexible’ PCP product. The flexible PCP is an alternative source of funding when applicants are declined by more traditional prime lenders. However, it does not resemble a sub-prime product, as interest rates remain competitive with prime offerings.

New ‘near-prime’ PCP accounts for half of business Startline writes with TrustFord Now

Feb 11, 2019

Startline Motor Finance has revealed that half the business it writes with TrustFord Now is based on the UK company’s ‘flexible’ PCP product. The flexible PCP is an alternative source of funding when applicants are declined by more traditional prime lenders. However, it does not resemble a sub-prime product, as interest rates remain competitive with prime offerings.

Website rebrands as Leasing.com amid growing interest in personal leasing

New car marketplace Leasing.com has launched in the UK in response to changing car buying patterns among consumers. Executives behind the site, which has rebranded from ContractHireAndLeasing.com, say they are responding to a behavioural shift as more consumers switch from purchasing or hire purchase to leasing. Last year, the British Vehicle Rental and Leasing Association (BVRLA) reported that demand for personal leasing was up around one-fifth.

Website rebrands as Leasing.com amid growing interest in personal leasing

Feb 11, 2019

New car marketplace Leasing.com has launched in the UK in response to changing car buying patterns among consumers. Executives behind the site, which has rebranded from ContractHireAndLeasing.com, say they are responding to a behavioural shift as more consumers switch from purchasing or hire purchase to leasing. Last year, the British Vehicle Rental and Leasing Association (BVRLA) reported that demand for personal leasing was up around one-fifth.

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