Bibby Financial Services sees SME turnover increase by 32%

International SME funder, Bibby Financial Services (BFS) reports it has seen global client turnover grow by almost a third year-on-year as SMEs around the world start to recover from the Covid-19 pandemic. Client turnover, or debts factored, increased by 32% from £1.8 billion in Q2 2020, to £2.4 billion in the second quarter of 2021. This resilient performance also continued in the first half of 2021 as restrictions lifted following winter lockdowns with monthly client turnover growing by 30%, from £0.7 billion in January to £0.9 billion in June.

Bibby Financial Services sees SME turnover increase by 32%

Jul 30, 2021

Acquis launches outsourced insurance management into Luxembourg and Poland

Acquis has expanded into Luxembourg and Poland and is now active in a total of 16 countries across the EU, plus the UK and Norway, with plans to grow globally. Established in 2009 in the UK, Acquis specialises in providing fully outsourced insurance management programmes for leased equipment.

Acquis launches outsourced insurance management into Luxembourg and Poland

Jul 30, 2021

EU clears AerCap for take-off with $30bn GECAS deal

EU regulators have given the go-ahead for Irish aircraft lessor AerCap’s takeover of GE Capital Aviation Services (GECAS), in a $30 billion deal which will create the global leader in the market. The acquisition was first mooted in March this year, but was awaiting approval from the European Commission’s competition watchdog.

EU clears AerCap for take-off with $30bn GECAS deal

Jul 29, 2021

Alfa whitepaper reveals the future of machine learning

Asset finance software provider Alfa has published a new whitepaper on how the industry can accelerate the use of machine learning to deliver significant benefits to businesses and customers. Moving Forward with Machine Learning is the third in a series of whitepapers from Alfa, produced in association with Alfa iQ, the partnership between Alfa and Bitfount that builds and deploys best-in-class machine learning models. The new whitepaper explores the trajectory of machine learning, its uses in auto and equipment finance, and how it will continue to advance in the near future.

Alfa whitepaper reveals the future of machine learning

Jul 05, 2021

White Clarke Group Global Leasing Report 2021 reveals health of industry as pandemic emerged

A detailed insight into the health of the global asset finance industry launched today reveals how flexibility and innovation helped the sector respond to the emerging Coronavirus pandemic. The White Clarke Group Global Leasing Report 2021 provides an invaluable insight into the shape of the asset finance market as it entered one of the most turbulent years in its history, when the COVID-19 crisis reshaped world markets. Exclusive research in the report shows that before the pandemic, the USA benefited from strong growth, with annual volume of $473 billion, a rise of 10.5% year-on-year.

White Clarke Group Global Leasing Report 2021 reveals health of industry as pandemic emerged

Mar 01, 2021

NatWest to sell Ulster Bank asset finance business as part of Republic of Ireland withdrawal

NatWest Group is to sell Ulster Bank’s Lombard asset finance business to Permanent TSB as part of a €7.6bn deal which will see the British bank withdraw from Ireland. NatWest has signed a non-binding memorandum of understanding with Permanent TSB covering a perimeter comprising performing non-tracker mortgages, performing micro-SME loans, Ulster Bank’s asset finance business and a subset of its branch locations.

NatWest to sell Ulster Bank asset finance business as part of Republic of Ireland withdrawal

Jul 28, 2021

Study finds digitization critical to creating post pandemic “new normal”

As Covid-19 restrictions start to lift and UK businesses begin their recovery, digitization and new technologies will be key drivers for a post-pandemic economy which will look very different from before, according to analysis by McKinsey. The consultancy says its assessment of the trends at play in the US - an advanced economy that is now largely open - can to some degree be seen as a bellwether of what is to come, and cautions that “the next normal won’t be a return to the norms of 2019”.

Study finds digitization critical to creating post pandemic “new normal”

Jul 27, 2021

British Business Bank increases Propel’s ENABLE Funding facility for SMEs

Specialist asset finance lender Propel has announced two further financing tranches from the British Business Bank to add to its existing ENABLE Funding facility. The total facility will allow more than £216m of finance to be provided to SMEs across the UK. This is now one of the largest facilities under the Bank’s ENABLE Funding programme, which aims to improve the supply of finance solutions for business-critical assets to smaller UK businesses.

British Business Bank increases Propel’s ENABLE Funding facility for SMEs

Jul 27, 2021

“Perfect storm” in automotive industry puts used car market in driving seat

Despite pent up consumer demand for new cars as pandemic restrictions lift, supply chain issues are hampering new vehicle sales, pushing up demand in the used car market, according to the latest research. Cox Automotive has downgraded its new car forecast for the remainder of 2021 with a revised most likely scenario predicting Q3 will end on 522,425 new car transactions, a 17.7% drop on the 2000-2019 average. The full-year 2021 forecast has also been adjusted downwards to 1,823,426 new car transactions, around 2.5% lower than Cox's April forecast and a 21.1% fall compared to the 2000-2019 average.

“Perfect storm” in automotive industry puts used car market in driving seat

Jul 26, 2021

United Trust Bank hires Louise McIntosh to new head of operations role

United Trust Bank (UTB) is continuing to develop its asset finance division with the appointment of Louise McIntosh in the newly created role of head of operations, with a brief to upgrade the lender’s systems and processes to support its grow in transactions.

United Trust Bank hires Louise McIntosh to new head of operations role

Jul 23, 2021

FCA promises “assertive” approach and stronger consumer focus

The Financial Conduct Authority (FCA) has published its business plan for the coming year, which includes a renewed focus on consumer outcomes and a commitment from the regulator to become more innovative, adaptive and assertive. Nikhil Rathi, who joined as chief executive in October 2020, said: “The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile. One that acts, acts fast—and where we can’t act, engages enthusiastically with those who can.”

FCA promises “assertive” approach and stronger consumer focus

Jul 23, 2021

Trade Ledger underpins expansion plans with trio of senior appointments

Trade Ledger, the global technology provider of a lending-as-a-service platform for the commercial banking and financial services industry, has announced three senior appointments as it prepares for the next phase of growth. Jarrad Hubble (left) joins in a new role of chief revenue officer for Trade Ledger’s global operations, with a focus on building the company’s global sales and business development functions, and will report directly to co-founder and CEO Martin McCann.

Trade Ledger underpins expansion plans with trio of senior appointments

Jul 22, 2021

LTi partners with UK finance house Propel to transform customers’ digital experience

Lease and loan cloud solutions provider LTi Technology Solutions (LTi) has signed a “transformative” partnership with Propel, one of the UK’s largest independent finance houses, for the effective deployment and adoption of fintech innovation to transform the customer experience.

LTi partners with UK finance house Propel to transform customers’ digital experience

Jul 22, 2021

Why Big Data is vital to driving auto finance growth and controlling invisible risks

A new industry report released by the International Asset Finance Network today warns that there is a lack of innovative use of data and analytics in risk management within auto finance that could improve decision making across new business and in-life customer management. The report, called ‘Controlling Invisible Risks: driving growth in a new auto finance landscape using data and analytics’, tells auto finance leaders that it is critical to implement new technology and develop their own ecosystems driven by Big Data if they want to remain competitive.

Why Big Data is vital to driving auto finance growth and controlling invisible risks

Jul 20, 2021

BP offers EV subscription service using Tomorrow’s Journey technology platform

BP is collaborating with mobility software provider Tomorrow’s Journey in a trial of an all-in-one electric vehicle (EV) subscription service for ride hail drivers in London, as the energy giant seeks to grow its mobility ambitions in this market. According to research by Statista, the worldwide ride share market is estimated to be worth $117 billion in 2021.

BP offers EV subscription service using Tomorrow’s Journey technology platform

Jul 21, 2021

TES builds major European battery recycling facility as new climate change roadmap unveiled

TES, a global provider of sustainable technology lifecycle services, is to establish a 10,000 square metre recycling facility in Rotterdam, designed to bolster Europe’s capacity to recycle lithium batteries as demand for electric vehicles (EVs) accelerates and tougher new environmental legislation is in prospect. The facility, based at Europe’s largest seaport, has an option to increase to over 40,000 square metres. TES already has a basic waste license to receive, store and forward lithium batteries and to manage EV batteries and battery production scrap as well as a license to shred alkaline batteries.

TES builds major European battery recycling facility as new climate change roadmap unveiled

Jul 20, 2021

IDS partners with digital transformation specialist Tamarack to drive IDScloud adoption

Secured finance technology provider IDS has signed a strategic partnership agreement with Tamarack Technologies, a leading provider of digital transformation services and solutions for equipment finance, as demand builds from firms looking to migrate to its end-to-end SaaS solution IDScloud.