NETSOL launches landing page to highlight their core and digital expertise within the auto finance industry

Asset finance and leasing software provider, NETSOL Technologies, has unveiled a new landing page catered towards the automotive finance industry. Highlighting its numerous years of experience within the auto finance sector, NETSOL launched the page following the start-up landing page which was the first of the series. This can be accessed at the following link: https://netsoltech.com/startups/

NETSOL launches landing page to highlight their core and digital expertise within the auto finance industry

Jan 21, 2021

Asset finance and leasing software provider, NETSOL Technologies, has unveiled a new landing page catered towards the automotive finance industry. Highlighting its numerous years of experience within the auto finance sector, NETSOL launched the page following the start-up landing page which was the first of the series. This can be accessed at the following link: https://netsoltech.com/startups/

Deloitte chief economist forecasts global growth but uncertainty and risks remain

The vast majority of economists expect global growth to recover as lockdown and vaccination programmes succeed in reducing the spread of the COVID-19 pandemic. Deloitte’s UK chief economist Ian Stewart explains. 

Deloitte chief economist forecasts global growth but uncertainty and risks remain

Jan 21, 2021

The vast majority of economists expect global growth to recover as lockdown and vaccination programmes succeed in reducing the spread of the COVID-19 pandemic. Deloitte’s UK chief economist Ian Stewart explains. 

FCA to remove repossession restrictions on 31 January

In a recent announcement, the UK Financial Conduct Authority (FCA) proposed that financial services firms would be able to resume repossessions from 31 January 2021. The FCA’s current consumer credit guidance means that firms are not able to terminate a regulated agreement or repossess goods or vehicles under the agreement that the customer needs – except in exceptional circumstances – until 31 January. However, the Association also explained that repossession should only be used “as a last resort” and complying with public health regulations such as social distancing and shielding.

FCA to remove repossession restrictions on 31 January

Jan 20, 2021

In a recent announcement, the UK Financial Conduct Authority (FCA) proposed that financial services firms would be able to resume repossessions from 31 January 2021. The FCA’s current consumer credit guidance means that firms are not able to terminate a regulated agreement or repossess goods or vehicles under the agreement that the customer needs – except in exceptional circumstances – until 31 January. However, the Association also explained that repossession should only be used “as a last resort” and complying with public health regulations such as social distancing and shielding.

 

How circular economy principles will drive asset finance growth

Asset finance companies have been urged to focus on the fundamentals of business when assessing how the circular economy can drive future growth. The circular economy is based around sustainability by promoting repair, refurbishment, and recycling above the ‘take, make, waste’ approach that has driven economic growth for decades. Carmen Ene, CEO of specialist IT provider 3StepIT, told delegates at the International Asset Finance Network conference that a focus on the economic principles of the circular economy was important to drive growth.

How circular economy principles will drive asset finance growth

Jan 05, 2021

Asset finance companies have been urged to focus on the fundamentals of business when assessing how the circular economy can drive future growth. The circular economy is based around sustainability by promoting repair, refurbishment, and recycling above the ‘take, make, waste’ approach that has driven economic growth for decades. Carmen Ene, CEO of specialist IT provider 3StepIT, told delegates at the International Asset Finance Network conference that a focus on the economic principles of the circular economy was important to drive growth.

 
 
 

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Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Europe’s biggest asset finance providers entered 2020 in a position of strength that helped them prepare for the toughest year in the industry’s history. In the fourth annual Asset Finance Europe 50, asset finance leaders have heaped praise on their employees for their pivotal role in supporting industry growth and adapting to change as the Coronavirus crisis struck at the start of the year. The unique European annual ranking survey, sponsored by Alfa, reveals that total business equipment and vehicle lease receivables of the 50 largest companies were €314 billion as the industry entered a pivotal year.

Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Nov 30, 2020

Europe’s biggest asset finance providers entered 2020 in a position of strength that helped them prepare for the toughest year in the industry’s history. In the fourth annual Asset Finance Europe 50, asset finance leaders have heaped praise on their employees for their pivotal role in supporting industry growth and adapting to change as the Coronavirus crisis struck at the start of the year. The unique European annual ranking survey, sponsored by Alfa, reveals that total business equipment and vehicle lease receivables of the 50 largest companies were €314 billion as the industry entered a pivotal year.

 

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Hitachi Capital funds £10 million EV charging infrastructure in partnership with GRIDSERVE

Hitachi Capital UK has partnered with sustainable energy solutions provider, GRIDSERVE, to provide a boost to the UK’s renewable energy and electric vehicle (EV) infrastructure. The financial services firm has provided a £10 million loan facility to GRIDSERVE to develop a network of more than 100 solar powered electric forecourts to provide fast, dependable charging for EVs. The charging infrastructure is expected to be delivered over the next five years alongside a series of hybrid solar farms.

Hitachi Capital funds £10 million EV charging infrastructure in partnership with GRIDSERVE

Jan 19, 2021

Hitachi Capital UK has partnered with sustainable energy solutions provider, GRIDSERVE, to provide a boost to the UK’s renewable energy and electric vehicle (EV) infrastructure. The financial services firm has provided a £10 million loan facility to GRIDSERVE to develop a network of more than 100 solar powered electric forecourts to provide fast, dependable charging for EVs. The charging infrastructure is expected to be delivered over the next five years alongside a series of hybrid solar farms.

Auto finance firms not safe as Apple holds talks with Hyundai on EVs following banking breakthrough

Apple has entered talks with South Korean carmaker Hyundai, about forming a partnership centered around electric vehicles (EVs) and battery development. The possibility of a partnership between the two heralds the long-awaited arrival of large technology companies into the automotive industry. Whilst Apple declined to comment on the development, Hyundai’s statement may suggest that Apple is accelerating plans to launch a plug-in electric car.

Auto finance firms not safe as Apple holds talks with Hyundai on EVs following banking breakthrough

Jan 19, 2021

Apple has entered talks with South Korean carmaker Hyundai, about forming a partnership centered around electric vehicles (EVs) and battery development. The possibility of a partnership between the two heralds the long-awaited arrival of large technology companies into the automotive industry. Whilst Apple declined to comment on the development, Hyundai’s statement may suggest that Apple is accelerating plans to launch a plug-in electric car.

FCA and PSA Group merger set to achieve £144 billion of revenue

PSA Group and Fiat Chrysler Automobiles (FCA) have revealed that their plans for a merger have been approved by shareholders by an overwhelming majority – with more than 99% of the votes cast in favor of the transaction. The resulting business, named Stellantis, is set to be the world's fourth largest car maker, with combined revenues of £144 billion. By combining the efforts of two OEMs, Stellantis aims to sell more than 8.7 million vehicles each year and benefit from cost savings of £3.2 billion. There are currently no plans to close any plants.

FCA and PSA Group merger set to achieve £144 billion of revenue

Jan 15, 2021

PSA Group and Fiat Chrysler Automobiles (FCA) have revealed that their plans for a merger have been approved by shareholders by an overwhelming majority – with more than 99% of the votes cast in favor of the transaction. The resulting business, named Stellantis, is set to be the world's fourth largest car maker, with combined revenues of £144 billion. By combining the efforts of two OEMs, Stellantis aims to sell more than 8.7 million vehicles each year and benefit from cost savings of £3.2 billion. There are currently no plans to close any plants.

 

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Quotevine rebrands to QV Systems in latest stage of evolution

Software-as-a-Service (SaaS) provider, Quotevine, has revealed a new brand for the company under the name QV Systems in an effort to signify the evolution of the company. The company announced that the name change symbolizes the strengthening of its position as a provider of cloud-based software solutions for the automotive, asset and consumer finance sectors.

Quotevine rebrands to QV Systems in latest stage of evolution

Jan 14, 2021

Software-as-a-Service (SaaS) provider, Quotevine, has revealed a new brand for the company under the name QV Systems in an effort to signify the evolution of the company. The company announced that the name change symbolizes the strengthening of its position as a provider of cloud-based software solutions for the automotive, asset and consumer finance sectors.

Cambridge & Counties Bank positions itself to support SMEs’ switch to EVs

Cambridge & Counties Bank unveil EV lending scheme as 94% of SMEs consider the switch to green transport a top priority UK businesses that use vehicles have a responsibility to switch to electric vehicles (EVs) as soon as possible, according to 94% of SME business owners who took part in a recent study by Cambridge & Counties Bank (CCB). Some 46% of respondents added that this should be a top priority.

Cambridge & Counties Bank positions itself to support SMEs’ switch to EVs

Jan 14, 2021

Cambridge & Counties Bank unveil EV lending scheme as 94% of SMEs consider the switch to green transport a top priority UK businesses that use vehicles have a responsibility to switch to electric vehicles (EVs) as soon as possible, according to 94% of SME business owners who took part in a recent study by Cambridge & Counties Bank (CCB). Some 46% of respondents added that this should be a top priority.

Asset finance down 10% in November as 7,000 lenders forecast a 25% fall in net income

Total asset finance new business hit £2.4 billion in November 2020, down 10% compared with the same month in 2019, according to figures released by the Finance & Leasing Association (FLA). The commercial vehicle finance and car finance sectors faired the best in November, with the former achieving £705 million of new business and the latter hitting £699 million. This represents a 1% and 5% fall respectively when compared to the previous year’s figures. In comparison, IT equipment finance new business hit £154 million in the month, equaling a 32% decline from November 2019.

Asset finance down 10% in November as 7,000 lenders forecast a 25% fall in net income

Jan 13, 2021

Total asset finance new business hit £2.4 billion in November 2020, down 10% compared with the same month in 2019, according to figures released by the Finance & Leasing Association (FLA). The commercial vehicle finance and car finance sectors faired the best in November, with the former achieving £705 million of new business and the latter hitting £699 million. This represents a 1% and 5% fall respectively when compared to the previous year’s figures. In comparison, IT equipment finance new business hit £154 million in the month, equaling a 32% decline from November 2019.

 

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Britain faces “darkest hour” as PwC to examine bounce back loan fraud

The Bank of England has warned that the recent resurgence of the pandemic could tip the economy back into recession. Ben Broadbent (pictured above), deputy governor for monetary policy at the Bank of England, explained: “The UK is in the grip of a double-dip recession. GDP is likely to have ended 2020 at around 10% lower than at the end of 2019, marking the sharpest decline, through any calendar year, at least since 1920.

Britain faces “darkest hour” as PwC to examine bounce back loan fraud

Jan 13, 2021

The Bank of England has warned that the recent resurgence of the pandemic could tip the economy back into recession. Ben Broadbent (pictured above), deputy governor for monetary policy at the Bank of England, explained: “The UK is in the grip of a double-dip recession. GDP is likely to have ended 2020 at around 10% lower than at the end of 2019, marking the sharpest decline, through any calendar year, at least since 1920.

Delivering growth through digital partnerships in a post-pandemic world

The asset finance industry has seen fundamental change during the past year of the Coronavirus crisis, with an accelerated focus on digitalisation and growing use of cloud-based services. Now, as the international roll-out of vaccines suggests the worst could soon be over for the global economy, digital partnerships are set to drive business growth in asset finance while delivering improved service levels to customers. A new whitepaper from NETSOL Technologies reveals how technologies such as artificial intelligence and machine learning are enabling more efficient processes, with the workforce reorganised around added-value responsibilities, including providing personalised support for the ‘digitally excluded’ or those with specific needs.

Delivering growth through digital partnerships in a post-pandemic world

Jan 12, 2021

The asset finance industry has seen fundamental change during the past year of the Coronavirus crisis, with an accelerated focus on digitalisation and growing use of cloud-based services. Now, as the international roll-out of vaccines suggests the worst could soon be over for the global economy, digital partnerships are set to drive business growth in asset finance while delivering improved service levels to customers. A new whitepaper from NETSOL Technologies reveals how technologies such as artificial intelligence and machine learning are enabling more efficient processes, with the workforce reorganised around added-value responsibilities, including providing personalised support for the ‘digitally excluded’ or those with specific needs.

An auto-finance man to the core: Peter Landers 1961 – 2021

Asset Finance International, alongside his friends and colleagues in the auto finance industry, was much saddened to learn of the death of Peter Landers, director of strategic partnerships at MotoNovo Finance. Following the challenge of ill health going back to 2018, Peter faced a new battle with Covid-19 during December 2020 and finally succumbed in the early hours of New Year’s Day. Peter was an auto-finance man to the core, and learnt his trade up through the ranks of the industry starting with United Dominions Trust (UDT) where he worked from 1982 to 1989.

An auto-finance man to the core: Peter Landers 1961 – 2021

Jan 11, 2021

Asset Finance International, alongside his friends and colleagues in the auto finance industry, was much saddened to learn of the death of Peter Landers, director of strategic partnerships at MotoNovo Finance. Following the challenge of ill health going back to 2018, Peter faced a new battle with Covid-19 during December 2020 and finally succumbed in the early hours of New Year’s Day. Peter was an auto-finance man to the core, and learnt his trade up through the ranks of the industry starting with United Dominions Trust (UDT) where he worked from 1982 to 1989.

Lex Autolease reveals connected fleet tech partnership as Microsoft and Ericsson enter the connectivity arena

Lex Autolease is set to introduce a range of connected vehicle technology solutions and services to its UK fleet of cars and LCVs following the announcement of a partnership with Masternaut. Incorporating Masternaut’s range of fleet management solutions, the key focus of the collaboration will be to provide Lex’s customers with a leasing offer including connected fleet management services. The connected fleet technology is also set to support Lex in managing its assets. For example, it is able to provide maintenance data collected directly from vehicles, and also from a smart vehicle check application that enables drivers to report the condition of their vehicles and track defects.

Lex Autolease reveals connected fleet tech partnership as Microsoft and Ericsson enter the connectivity arena

Jan 11, 2021

Lex Autolease is set to introduce a range of connected vehicle technology solutions and services to its UK fleet of cars and LCVs following the announcement of a partnership with Masternaut. Incorporating Masternaut’s range of fleet management solutions, the key focus of the collaboration will be to provide Lex’s customers with a leasing offer including connected fleet management services. The connected fleet technology is also set to support Lex in managing its assets. For example, it is able to provide maintenance data collected directly from vehicles, and also from a smart vehicle check application that enables drivers to report the condition of their vehicles and track defects.

Ian Robertson & Paul Johnson-Ferguson argue that now more than ever the systems environment is a strategic component of any asset finance business

COVID-19 has resulted in a need to accelerate the transformation of many asset finance company systems environments. Systems providers have been extremely active innovating and bringing new functionality and new solutions to market in recent years and months. New demands continue to arise, and new solution opportunities are emerging continuously providing even more aspects for businesses to assess and evaluate.

Ian Robertson & Paul Johnson-Ferguson argue that now more than ever the systems environment is a strategic component of any asset finance business

Jan 11, 2021

COVID-19 has resulted in a need to accelerate the transformation of many asset finance company systems environments. Systems providers have been extremely active innovating and bringing new functionality and new solutions to market in recent years and months. New demands continue to arise, and new solution opportunities are emerging continuously providing even more aspects for businesses to assess and evaluate.

Volkswagen Financial Services set to “bring EVs to the masses” after surge in penetration

Volkswagen Financial Services (VWFS) is set to launch an electric vehicle (EV) finance package designed to keep car retailers as an integral part of the retail auto market. According to the captive, the new approach will protect the car by offering customers a minimum of a 2-year lease from new, and then reselling as an approved vehicle, all while being maintained and serviced by the retailer’s aftersales team. By doing this, car retailers will be able to keep in touch with customers when they come in for servicing, which is hoped to establish lasting relationships and inspire brand loyalty.

Volkswagen Financial Services set to “bring EVs to the masses” after surge in penetration

Jan 08, 2021

Volkswagen Financial Services (VWFS) is set to launch an electric vehicle (EV) finance package designed to keep car retailers as an integral part of the retail auto market. According to the captive, the new approach will protect the car by offering customers a minimum of a 2-year lease from new, and then reselling as an approved vehicle, all while being maintained and serviced by the retailer’s aftersales team. By doing this, car retailers will be able to keep in touch with customers when they come in for servicing, which is hoped to establish lasting relationships and inspire brand loyalty.

 

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Alphabet launches new PCH platform to exploit surging demand for personal leasing

In an attempt to streamline the financing process for its corporate customers, business mobility s...

A Rollercoaster Year: The biggest events and trends in a year of turmoil

As the asset finance industry enters the new year and resumes trading following the holiday period...

 

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