How blockchain and nudge economics could create the perfect customer

Blockchain-powered mobility tokens that reward the right behaviour could be a key tool in building loyalty amongst auto finance customers. The idea is based around the concept of nudge economics, where incentives are provided to change behaviour instead of punishments. Irfon Watkins, CEO and founder of blockchain-powered mobility currency DOVU, believes consumers will be influenced by the power of its crypto-tokens, which can be rewarded for everything from minimising damage on a lease vehicle to opting for greener transport and all managed via their app.

How blockchain and nudge economics could create the perfect customer

Jun 19, 2018

Blockchain-powered mobility tokens that reward the right behaviour could be a key tool in building loyalty amongst auto finance customers. The idea is based around the concept of nudge economics, where incentives are provided to change behaviour instead of punishments. Irfon Watkins, CEO and founder of blockchain-powered mobility currency DOVU, believes consumers will be influenced by the power of its crypto-tokens, which can be rewarded for everything from minimising damage on a lease vehicle to opting for greener transport and all managed via their app.

 

White Clarke Group announces strategic partnership with ChannelNet

  A strategic partnership has been announced by customer engagement specialist ChannelNet and White Clarke Group, the global automotive, consumer and equipment finance software business. The partnership will enable White Clarke Group to offer digital marketing services to its client base, extending its current range of products that includes Calms, the end-to-end auto and asset finance software system. The partnership offers asset finance companies an integrated customer and dealer-facing platform that automates the overall management of the customer relationship for lenders and their dealers, serving the automotive, truck and heavy equipment markets.

White Clarke Group announces strategic partnership with ChannelNet

Jun 18, 2018

  A strategic partnership has been announced by customer engagement specialist ChannelNet and White Clarke Group, the global automotive, consumer and equipment finance software business. The partnership will enable White Clarke Group to offer digital marketing services to its client base, extending its current range of products that includes Calms, the end-to-end auto and asset finance software system. The partnership offers asset finance companies an integrated customer and dealer-facing platform that automates the overall management of the customer relationship for lenders and their dealers, serving the automotive, truck and heavy equipment markets.

Nico Gabriel to lead newly-created Sixt Group mobility division

Nico Gabriel, the former managing director of DriveNow, has been appointed as the head of Sixt X, the new mobility division of Sixt Group. Sixt X will manage all new mobility projects throughout Sixt Group, with an initial focus on the digitalisation of the car rental process. This will lay the groundwork for a planned integrated mobility platform through which several Sixt services will be offered.

Nico Gabriel to lead newly-created Sixt Group mobility division

Jun 15, 2018

Nico Gabriel, the former managing director of DriveNow, has been appointed as the head of Sixt X, the new mobility division of Sixt Group. Sixt X will manage all new mobility projects throughout Sixt Group, with an initial focus on the digitalisation of the car rental process. This will lay the groundwork for a planned integrated mobility platform through which several Sixt services will be offered.

Jaguar Land Rover launches Carpe subscription service in UK

A new all-inclusive car subscription service for Jaguar and Land Rover vehicles has launched in the UK. The service, called Carpe, has been developed by InMotion Ventures, the transport, mobility and travel innovation arm of JLR. Its first product is a 12-month unlimited mileage subscription, giving JLR customers a new car every year. Potential buyers include retail customers, senior executives in cash for car schemes or executives in small businesses. The subscription has no deposit and includes all maintenance, servicing and insurance costs.

Jaguar Land Rover launches Carpe subscription service in UK

Jun 14, 2018

A new all-inclusive car subscription service for Jaguar and Land Rover vehicles has launched in the UK. The service, called Carpe, has been developed by InMotion Ventures, the transport, mobility and travel innovation arm of JLR. Its first product is a 12-month unlimited mileage subscription, giving JLR customers a new car every year. Potential buyers include retail customers, senior executives in cash for car schemes or executives in small businesses. The subscription has no deposit and includes all maintenance, servicing and insurance costs.

 

IAFN banner

Make sense of digitalisation by exploring four key areas

In our recent Digital Transformation Study, we have found few success stories of “analog-native” companies developing digital strategies. Nearly 80% of companies surveyed said they were only “digitally adaptive”, and 50% considered lack of skills and competencies their major challenges in the digitalization journey. To make sense of digital and develop strategies, we suggest exploring four key areas.

Make sense of digitalisation by exploring four key areas

Jun 13, 2018

In our recent Digital Transformation Study, we have found few success stories of “analog-native” companies developing digital strategies. Nearly 80% of companies surveyed said they were only “digitally adaptive”, and 50% considered lack of skills and competencies their major challenges in the digitalization journey. To make sense of digital and develop strategies, we suggest exploring four key areas.

New company car and van tax guide for fleet lessors

Fleet industry expert Professor Colin Tourick has published his latest in-depth UK company car and van tax guide with a call for more clarity from government. Company Car and Van Tax is now in its eighth edition and covers all the latest changes in legislation affecting the fleet market. In addition to providing a review of all aspects of current company vehicle tax law, the book reviews a number of updates that particularly affect diesel car fleet operators, funding for low-emission vehicles, road tax, VAT and self-driving cars.

New company car and van tax guide for fleet lessors

Jun 11, 2018

Fleet industry expert Professor Colin Tourick has published his latest in-depth UK company car and van tax guide with a call for more clarity from government. Company Car and Van Tax is now in its eighth edition and covers all the latest changes in legislation affecting the fleet market. In addition to providing a review of all aspects of current company vehicle tax law, the book reviews a number of updates that particularly affect diesel car fleet operators, funding for low-emission vehicles, road tax, VAT and self-driving cars.

UK invoice and asset-based lending rises 4% in Q1 2018

New figures from industry trade association UK Finance have revealed that invoice and asset-based lending grew 4% in Q1 2018 compared to the same period last year. Asset-based lending was up 10.7% to £4.3 billion, while invoice finance rose 2.4% to £17.4 billion. Stephen Pegge, managing director commercial at UK Finance, said: “Invoice finance and asset-based lending by UK Finance members showed solid growth in the first quarter and stood at almost £22 billion, up 4% on 2017. “Members are reporting particularly strong growth in asset-based lending facilities, showing that as well as funding against invoices, client businesses are increasingly accessing wider finance facilities secured against stock.”

UK invoice and asset-based lending rises 4% in Q1 2018

Jun 12, 2018

New figures from industry trade association UK Finance have revealed that invoice and asset-based lending grew 4% in Q1 2018 compared to the same period last year. Asset-based lending was up 10.7% to £4.3 billion, while invoice finance rose 2.4% to £17.4 billion. Stephen Pegge, managing director commercial at UK Finance, said: “Invoice finance and asset-based lending by UK Finance members showed solid growth in the first quarter and stood at almost £22 billion, up 4% on 2017. “Members are reporting particularly strong growth in asset-based lending facilities, showing that as well as funding against invoices, client businesses are increasingly accessing wider finance facilities secured against stock.”

AF50 Banners UK 2018

Kabbage predicts 20% of all SME lending could be mobile by year-end

Global financial services, technology and data platform Kabbage is predicting a massive increase in smartphone-based lending among small businesses this year. It analysed nearly 150,000 US small businesses and found an increasing trend towards lending organised via mobile devices, with the number of loans increasing more than 300%. Kabbage executives say the growth demonstrates a new trend as small business owners expect a simple application process, with little delay before a decision is made before they can access working capital.

Kabbage predicts 20% of all SME lending could be mobile by year-end

Jun 11, 2018

Global financial services, technology and data platform Kabbage is predicting a massive increase in smartphone-based lending among small businesses this year. It analysed nearly 150,000 US small businesses and found an increasing trend towards lending organised via mobile devices, with the number of loans increasing more than 300%. Kabbage executives say the growth demonstrates a new trend as small business owners expect a simple application process, with little delay before a decision is made before they can access working capital.

Car buyers ready for online finance

Transparency, personalisation and speed are three key criteria that will drive growth of online auto loans, according to new research. There is huge potential demand among consumers, with 48% in the UK saying they plan to apply for their next auto loan online, but adoption rates remain low. According to analytic software company FICO’s first global survey on automotive financing, 63% of UK consumers acquired their most recent automotive loan at a dealership, while 15% went online. Globally, the average online loan rate is around 10%.

Car buyers ready for online finance

Jun 11, 2018

Transparency, personalisation and speed are three key criteria that will drive growth of online auto loans, according to new research. There is huge potential demand among consumers, with 48% in the UK saying they plan to apply for their next auto loan online, but adoption rates remain low. According to analytic software company FICO’s first global survey on automotive financing, 63% of UK consumers acquired their most recent automotive loan at a dealership, while 15% went online. Globally, the average online loan rate is around 10%.

Equipment finance up 9.3% in France during Q1 2018

Data from the French Finance Association (ASF) has revealed equipment asset finance new business grew by 9.3% to €6.9 billion in the first quarter of 2018. The rise continues the trend for growth after an 8.8% increase in Q4 last year and a rise of 7.4% in Q3 2017. The increase in business demand for funding marks a key milestone for the equipment finance market, as total lending volume reached €28.3 billion at the end of March 2018, 11.6% higher than the total market before the financial crisis in 2008.

Equipment finance up 9.3% in France during Q1 2018

Jun 08, 2018

Data from the French Finance Association (ASF) has revealed equipment asset finance new business grew by 9.3% to €6.9 billion in the first quarter of 2018. The rise continues the trend for growth after an 8.8% increase in Q4 last year and a rise of 7.4% in Q3 2017. The increase in business demand for funding marks a key milestone for the equipment finance market, as total lending volume reached €28.3 billion at the end of March 2018, 11.6% higher than the total market before the financial crisis in 2008.

WCG tech report 2018 550x150

LeasePlan agrees ground-breaking partnership with Fiat Chrysler Automobiles

LeasePlan has become the operational lease partner to Fiat Chrysler Automobiles in several European markets where FCA’s captive finance arm does not have a presence. Full operational lease products will be offered on a preferred partner basis to FCA’s SME customers in Austria, Czech Republic, Denmark, Finland, Greece, Hungary, Norway, Poland, Portugal, Slovakia, Sweden and Switzerland. A key focus of the partnership will be on the fast-growing small to medium enterprise (SME) segment, with LeasePlan offering companies operational lease solutions.

LeasePlan agrees ground-breaking partnership with Fiat Chrysler Automobiles

Jun 11, 2018

LeasePlan has become the operational lease partner to Fiat Chrysler Automobiles in several European markets where FCA’s captive finance arm does not have a presence. Full operational lease products will be offered on a preferred partner basis to FCA’s SME customers in Austria, Czech Republic, Denmark, Finland, Greece, Hungary, Norway, Poland, Portugal, Slovakia, Sweden and Switzerland. A key focus of the partnership will be on the fast-growing small to medium enterprise (SME) segment, with LeasePlan offering companies operational lease solutions.

UK consumer car finance market powers to new April high

The UK new car finance market powered to a new monthly high for April, latest figures from the Finance & Leasing Association (FLA) show. New business in the point of sale (POS) consumer new car finance market grew 31% by value and 27% by volume in April, compared with the same month last year, when market growth dipped substantially. The percentage of private new car sales financed by FLA members through the POS was 89.7% in the 12 months to April 2018.

UK consumer car finance market powers to new April high

Jun 08, 2018

The UK new car finance market powered to a new monthly high for April, latest figures from the Finance & Leasing Association (FLA) show. New business in the point of sale (POS) consumer new car finance market grew 31% by value and 27% by volume in April, compared with the same month last year, when market growth dipped substantially. The percentage of private new car sales financed by FLA members through the POS was 89.7% in the 12 months to April 2018.

UK asset finance market rebounds in April

Figures from the UK’s Finance & Leasing Association show that asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2017. New business in the plant and machinery finance and business equipment finance sectors was up by 13% and 18% respectively, while commercial vehicle finance new business increased by 13% over the same period.

UK asset finance market rebounds in April

Jun 08, 2018

Figures from the UK’s Finance & Leasing Association show that asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2017. New business in the plant and machinery finance and business equipment finance sectors was up by 13% and 18% respectively, while commercial vehicle finance new business increased by 13% over the same period.

What does the future hold for equipment finance?

“We’re going to be spending the rest of our lives in the future. Given that reality, why do we spend such little time or energy trying to anticipate what it has in store for us?” These comments from futurist and author Daniel Burrus perfectly summarize the importance of considering the future as the exponential pace of change is creating a new world for equipment finance.

What does the future hold for equipment finance?

Jun 08, 2018

“We’re going to be spending the rest of our lives in the future. Given that reality, why do we spend such little time or energy trying to anticipate what it has in store for us?” These comments from futurist and author Daniel Burrus perfectly summarize the importance of considering the future as the exponential pace of change is creating a new world for equipment finance.

Healthy ‘app-etite’ for digital financial services

Digital innovation is transforming the way people manage their money, with apps leading the way, as UK consumers logged into banking apps 5.5 billion times last year. Increasingly, customers are utilising new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day, with major banks reporting more than 5.5 million webchats with customers in 2017. According to a new report, the popularity of social media apps such as Twitter, Facebook Messenger and WhatsApp, is encouraging consumers to take advantage of webchat services when they are offered by financial providers.

Healthy ‘app-etite’ for digital financial services

Jun 07, 2018

Digital innovation is transforming the way people manage their money, with apps leading the way, as UK consumers logged into banking apps 5.5 billion times last year. Increasingly, customers are utilising new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day, with major banks reporting more than 5.5 million webchats with customers in 2017. According to a new report, the popularity of social media apps such as Twitter, Facebook Messenger and WhatsApp, is encouraging consumers to take advantage of webchat services when they are offered by financial providers.

Volvo Cars targets subscription sales and electric cars to drive global growth

Half of all cars provided to customers by Volvo Cars within the next decade will be through subscription services, the company’s president and chief executive has revealed. Hakan Samuelsson said the strategic shift to a pay-on-use model for its vehicles is part of a transformation of the business designed to cement direct consumer relationships. Initiatives designed to transform its connection to its customer base mean it will build a total of more than 5 million direct consumer relationships by the middle of the next decade, to create new sources of recurring revenue.

Volvo Cars targets subscription sales and electric cars to drive global growth

Jun 07, 2018

Half of all cars provided to customers by Volvo Cars within the next decade will be through subscription services, the company’s president and chief executive has revealed. Hakan Samuelsson said the strategic shift to a pay-on-use model for its vehicles is part of a transformation of the business designed to cement direct consumer relationships. Initiatives designed to transform its connection to its customer base mean it will build a total of more than 5 million direct consumer relationships by the middle of the next decade, to create new sources of recurring revenue.

Dealflo Risk Agreement EHeader 550x150 v2

Clear Vehicle Data launches new whole life cost product for fleets

Clear Vehicle Data (CVD) has launched Whole Life Cost Pro, a running cost comparison product for f...

Donald Trump trims CFPB’s powers in auto market

President Trump has signed into law legislation which significantly limits the scope of the Consum...

UK car search platform finds US partner

Leading UK used-car search platform Cazana has announced its first US reseller partnership in a de...

What is the future business model for auto manufacturers’ captive finance houses?

The CEO of Fiat Chrysler Automobiles, Sergio Marchionne, announced recently that the company strug...