Uber teams up with Wheels

Fleet leasing and management company Wheels has announced a partnership with Uber for Business, in a move designed to enable fleets to gain visibility into their ride-hailing activity. Many businesses and fleets use ride-hailing services to help control costs and drive productivity, but these savings are hard to recover if trip details and expenses are not centrally located.

Uber teams up with Wheels

May 24, 2018

Fleet leasing and management company Wheels has announced a partnership with Uber for Business, in a move designed to enable fleets to gain visibility into their ride-hailing activity. Many businesses and fleets use ride-hailing services to help control costs and drive productivity, but these savings are hard to recover if trip details and expenses are not centrally located.

Self-driving car pilot for Texas

California-based self-driving car company Drive.ai is to pilot a program to bring an on-demand self-driving car service to Frisco, Texas. Working in cooperation with the Frisco Transportation Management Association (TMA), Drive.ai will offer rides to over 10,000 people in self-driving vehicles within a geofenced area covering retail, entertainment, and office space, starting in July.

Self-driving car pilot for Texas

May 24, 2018

California-based self-driving car company Drive.ai is to pilot a program to bring an on-demand self-driving car service to Frisco, Texas. Working in cooperation with the Frisco Transportation Management Association (TMA), Drive.ai will offer rides to over 10,000 people in self-driving vehicles within a geofenced area covering retail, entertainment, and office space, starting in July.

Dealers remain vital as appetite for online auto sales grows

Consumers are becoming increasingly confident about buying a car online, but the vast majority still want to visit a showroom during the process, according to new research. Automotive e-commerce solutions company iVendi found that 87% of consumers feel that visiting a car showroom is an important part of the car buying process, even though 79% would be confident buying online.

Dealers remain vital as appetite for online auto sales grows

May 23, 2018

Consumers are becoming increasingly confident about buying a car online, but the vast majority still want to visit a showroom during the process, according to new research. Automotive e-commerce solutions company iVendi found that 87% of consumers feel that visiting a car showroom is an important part of the car buying process, even though 79% would be confident buying online.

Unleash the Iron Man in your auto finance customer service team

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

Unleash the Iron Man in your auto finance customer service team

May 17, 2018

Artificial intelligence can be used to act as a ‘virtual Iron Man’ for finance companies, augmenting customer service teams allowing them to get back to human tasks. Robert Downey Jr. is empowered by the iconic suit’s J.A.R.V.I.S AI system to become a fan favourite superhero but AI can also be used to have the same impact within business, according to Benji Stone, customer success lead at DigitalGenius. Stone said: “You can either have AI trying to replace your staff, and trying to completely take away the human work, or you can have the AI trying to augment your staff, trying to aid your staff and make them more efficient.

 
 

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Strong demand for “flexible prime” PCP

A personal contract purchase product launched by Startline Motor Finance to bridge the gap between prime and sub-prime finance is seeing a 50% penetration at some UK franchise dealerships. The “flexible prime” product sits alongside traditional lending offers from prime lenders and is suggested as an alternative source of funding when applications are initially declined. The product offers interest rates and general terms that are similar to prime lenders, rather than resembling a sub-prime product.

Strong demand for “flexible prime” PCP

May 23, 2018

A personal contract purchase product launched by Startline Motor Finance to bridge the gap between prime and sub-prime finance is seeing a 50% penetration at some UK franchise dealerships. The “flexible prime” product sits alongside traditional lending offers from prime lenders and is suggested as an alternative source of funding when applications are initially declined. The product offers interest rates and general terms that are similar to prime lenders, rather than resembling a sub-prime product.

Opportunities for auto finance as China widens market access

China’s president Xi Jinping has announced a substantial widening of its market access programme that will create growth opportunities for foreign companies, including the auto finance sector. In response to the announcement, the People's Bank of China said it was “losing no time” in translating the measures into reality.

Opportunities for auto finance as China widens market access

May 23, 2018

China’s president Xi Jinping has announced a substantial widening of its market access programme that will create growth opportunities for foreign companies, including the auto finance sector. In response to the announcement, the People's Bank of China said it was “losing no time” in translating the measures into reality.

Volvo launches online test drive bookings through Amazon Prime

Volvo is partnering with Amazon in the UK to offer online test drive booking, with cars delivered directly to customers at home or work. The ground-breaking initiative is available for a limited time for Volvo’s V40 and will be open to Amazon customers in four UK cities – London, Birmingham, Manchester and Edinburgh – on select weekends in June and July. The service will be branded Amazon Prime Now Test Drive, after the Amazon Prime Now same-day delivery service that the online retail giant offers to customers.

Volvo launches online test drive bookings through Amazon Prime

May 23, 2018

Volvo is partnering with Amazon in the UK to offer online test drive booking, with cars delivered directly to customers at home or work. The ground-breaking initiative is available for a limited time for Volvo’s V40 and will be open to Amazon customers in four UK cities – London, Birmingham, Manchester and Edinburgh – on select weekends in June and July. The service will be branded Amazon Prime Now Test Drive, after the Amazon Prime Now same-day delivery service that the online retail giant offers to customers.

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BMW Group Financial Services launches US collaboration lab for tech entrepreneurs

BMW Group Financial Services in the US has launched a new program to partner with entrepreneurs, start-ups and small businesses in fintech to develop innovative mobility solutions and products. The BMW Financial Services Collaboration Lab 2018 will be run in partnership with L Marks, the corporate innovation specialists and investment fund. Applications are open to take part in one of five categories: Digitising the customer journey; Data analytics and insights; Building a blockchain strategy; Lease returns and lifecycle management; and a Wildcard category for all other proposals.

BMW Group Financial Services launches US collaboration lab for tech entrepreneurs

May 23, 2018

BMW Group Financial Services in the US has launched a new program to partner with entrepreneurs, start-ups and small businesses in fintech to develop innovative mobility solutions and products. The BMW Financial Services Collaboration Lab 2018 will be run in partnership with L Marks, the corporate innovation specialists and investment fund. Applications are open to take part in one of five categories: Digitising the customer journey; Data analytics and insights; Building a blockchain strategy; Lease returns and lifecycle management; and a Wildcard category for all other proposals.

Open architecture trend accelerates in equipment finance

The movement toward open architecture software systems is accelerating in equipment finance. Companies increasingly prefer open architecture platforms when evaluating systems for planned upgrades or building their own software. The trend has become more evident in recent interactions with equipment lessors and software vendors.

Open architecture trend accelerates in equipment finance

May 23, 2018

The movement toward open architecture software systems is accelerating in equipment finance. Companies increasingly prefer open architecture platforms when evaluating systems for planned upgrades or building their own software. The trend has become more evident in recent interactions with equipment lessors and software vendors.

CIT point-of-sale digital platform wins global award

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

CIT point-of-sale digital platform wins global award

May 22, 2018

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

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Digital transformation powers finance innovation in manufacturing sector

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Digital transformation powers finance innovation in manufacturing sector

May 22, 2018

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Safeguarding data is vital for sustainable digital financial services

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Safeguarding data is vital for sustainable digital financial services

May 21, 2018

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

New York dealership launches car subscription service

Keeler Motor Car Company, a New York state auto dealership, has moved into the vehicle subscription market with an alternative program to traditional vehicle purchases or leases. The service will allow drivers to "flip" between a wide selection of cars, SUVs, trucks and minivans.

New York dealership launches car subscription service

May 18, 2018

Keeler Motor Car Company, a New York state auto dealership, has moved into the vehicle subscription market with an alternative program to traditional vehicle purchases or leases. The service will allow drivers to "flip" between a wide selection of cars, SUVs, trucks and minivans.

UK’s Bonfield to be CFO Caterpillar FS

Caterpillar financial services has hired a senior British executive, Andrew Bonfield, to be its next chief financial officer, taking over from Brad Halverson, who has retired. Bonfield, who joins the lender on September 1, brings more than three decades of financial expertise to the role, most recently serving as group CFO and board member of UK power network provider National Grid.

UK’s Bonfield to be CFO Caterpillar FS

May 18, 2018

Caterpillar financial services has hired a senior British executive, Andrew Bonfield, to be its next chief financial officer, taking over from Brad Halverson, who has retired. Bonfield, who joins the lender on September 1, brings more than three decades of financial expertise to the role, most recently serving as group CFO and board member of UK power network provider National Grid.

AF50 UK reveals strong growth in asset finance market

The total net investment of the UK’s biggest asset finance firms has increased by nearly £3 billion, according to the 2018 AF50. The AF50, the UK’s most influential annual survey of business and equipment lessors, shows market growth of 8.3% as total net investment has risen to £37.1 billion from £34.2 billion, according to this year’s study. The AF50, sponsored by Alfa, is published by Asset Finance International and prepared by Asset Finance Policy’s director Julian Rose, the author of the A to Z of Asset Finance and Leasing.

AF50 UK reveals strong growth in asset finance market

May 17, 2018

The total net investment of the UK’s biggest asset finance firms has increased by nearly £3 billion, according to the 2018 AF50. The AF50, the UK’s most influential annual survey of business and equipment lessors, shows market growth of 8.3% as total net investment has risen to £37.1 billion from £34.2 billion, according to this year’s study. The AF50, sponsored by Alfa, is published by Asset Finance International and prepared by Asset Finance Policy’s director Julian Rose, the author of the A to Z of Asset Finance and Leasing.

Women’s Leadership Forum fosters increased diversity in equipment finance

The first-ever Women’s Leadership Forum organised by the Equipment Leasing and Financing Association (ELFA) in the US focused on tangible steps to improve performance and grow leadership skills. Among speakers at the event were Lori Frasier, chair of the ELFA Women’s Council and senior vice-president of strategy and performance management for Key Equipment Finance (pictured); Dr. Terri Boyer, the founding director of the Anne Welsh McNulty Institute for Women’s Leadership at Villanova University; Robbie Samuels, author of Croissants vs. Bagels: Strategic, Effective, and Inclusive Networking at Conferences; Amanda Dooley, digital communications and content partner for DLL; and Tanya Menon, associate professor at the Fisher College of Business at Ohio State.

Women’s Leadership Forum fosters increased diversity in equipment finance

May 17, 2018

The first-ever Women’s Leadership Forum organised by the Equipment Leasing and Financing Association (ELFA) in the US focused on tangible steps to improve performance and grow leadership skills. Among speakers at the event were Lori Frasier, chair of the ELFA Women’s Council and senior vice-president of strategy and performance management for Key Equipment Finance (pictured); Dr. Terri Boyer, the founding director of the Anne Welsh McNulty Institute for Women’s Leadership at Villanova University; Robbie Samuels, author of Croissants vs. Bagels: Strategic, Effective, and Inclusive Networking at Conferences; Amanda Dooley, digital communications and content partner for DLL; and Tanya Menon, associate professor at the Fisher College of Business at Ohio State.

Former senior Tesla executive Diarmuid O’Connell joins Fair to lead expansion

Former senior Tesla executive Diarmuid O'Connell has joined used car subscription app Fair as chief strategy officer ahead of its expansion throughout the US this year. O'Connell will help direct Fair's organisational and market activities and joins after 11 years at Tesla, where he served across multiple functions in his capacity as vice-president of business development.

Former senior Tesla executive Diarmuid O’Connell joins Fair to lead expansion

May 17, 2018

Former senior Tesla executive Diarmuid O'Connell has joined used car subscription app Fair as chief strategy officer ahead of its expansion throughout the US this year. O'Connell will help direct Fair's organisational and market activities and joins after 11 years at Tesla, where he served across multiple functions in his capacity as vice-president of business development.

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Best global cities for mobility services revealed

Global management consultancy Arthur D. Little has unveiled the findings of its major global study...

New leasing association helps unlock Africa’s $80 billion leasing market

The International Finance Corporation, a member of the World Bank Group, has formally launched Afr...

How robotic process automation can empower CIOs

Proactive business leaders in the asset finance sector should assess the impact of robotic process...

Ford appoints Jeff Lemmer as chief information officer

Ford has announced the appointment of Jeff Lemmer as vice-president and chief information officer....