Arkle Finance marks 21st anniversary as it celebrates £100m funding milestone

Specialist asset finance provider Arkle Finance has reached a key financial milestone to coincide with its 21st anniversary after supplying a total of £100 million in loans. The achievement follows sustained growth in its loan book, which has expanded by 15% annually for the past three years and now supports more than 5,500 customers.

Arkle Finance marks 21st anniversary as it celebrates £100m funding milestone

Sep 19, 2018

Specialist asset finance provider Arkle Finance has reached a key financial milestone to coincide with its 21st anniversary after supplying a total of £100 million in loans. The achievement follows sustained growth in its loan book, which has expanded by 15% annually for the past three years and now supports more than 5,500 customers.

Secure Trust Bank funding drives growth plan for Go Plant Fleet Services

Specialist commercial vehicle provider Go Plant Fleet Services is planning to expand after attracting new funding. The company, which delivers a wide range of fleet management solutions to both the public and private sector, has secured £13.5 million from Secure Trust Bank Commercial Finance. The funding will go towards new depots to expand Go Plant Fleet Services’ national footprint. It will also make strategic acquisitions that will increase the fleet supplier’s market share and boost its growing workforce. The finance, which replaces an existing capital facility, will also be invested in IT infrastructure.

Secure Trust Bank funding drives growth plan for Go Plant Fleet Services

Sep 19, 2018

Specialist commercial vehicle provider Go Plant Fleet Services is planning to expand after attracting new funding. The company, which delivers a wide range of fleet management solutions to both the public and private sector, has secured £13.5 million from Secure Trust Bank Commercial Finance. The funding will go towards new depots to expand Go Plant Fleet Services’ national footprint. It will also make strategic acquisitions that will increase the fleet supplier’s market share and boost its growing workforce. The finance, which replaces an existing capital facility, will also be invested in IT infrastructure.

Scotland hosts Fintech Fortnight to showcase national digital focus

Businesses in Scotland are highlighting their key role in the digitalisation of the finance sector with the first Fintech Fortnight. The event will run until September 28 and feature 23 events across Glasgow, Edinburgh, Stirling, Falkirk and Fife. The fintech sector is attracting millions of pounds worth of investment to Scotland and more than 50 fintech businesses, from start-ups to listed companies, are now based in the country.

Scotland hosts Fintech Fortnight to showcase national digital focus

Sep 19, 2018

Businesses in Scotland are highlighting their key role in the digitalisation of the finance sector with the first Fintech Fortnight. The event will run until September 28 and feature 23 events across Glasgow, Edinburgh, Stirling, Falkirk and Fife. The fintech sector is attracting millions of pounds worth of investment to Scotland and more than 50 fintech businesses, from start-ups to listed companies, are now based in the country.

 

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Crossing the ‘uncanny valley’ – A new era of machine-human engagement

The latest developments in machine-human engagement can offer auto finance customers an ‘almost human’ experience that could transform service levels. Meet Rachel, a ‘digital human’ created by Soul Machines as part of its work with IBM to enable greater levels of face-to-face interaction in business. According to chief business officer Greg Cross: “Humans can communicate in lots of ways. But when we actually want to have important conversations we always do those face to face.” Delegates at the Auto Captive Summit, hosted by global finance technology supplier White Clarke Group, were able to see Rachel first-hand during a presentation by Toby Woolfe, industry solutions business development executive at IBM.

Crossing the ‘uncanny valley’ – A new era of machine-human engagement

Jul 17, 2018

The latest developments in machine-human engagement can offer auto finance customers an ‘almost human’ experience that could transform service levels. Meet Rachel, a ‘digital human’ created by Soul Machines as part of its work with IBM to enable greater levels of face-to-face interaction in business. According to chief business officer Greg Cross: “Humans can communicate in lots of ways. But when we actually want to have important conversations we always do those face to face.” Delegates at the Auto Captive Summit, hosted by global finance technology supplier White Clarke Group, were able to see Rachel first-hand during a presentation by Toby Woolfe, industry solutions business development executive at IBM.

 

Consumers lack dealer finance knowledge Alphera Financial Services warns

Two-thirds of motorists are unaware of dealer obligations in the sale of car finance, according to recent research by Alphera Financial Services. It has published a new report on consumer attitudes to car finance which warns that the lack of awareness could leave customers open to mis-selling and says there’s a clear need to improve customer knowledge, trust and satisfaction. The report also says that customers can be ambivalent towards discussing car finance, with 71% putting paint colour considerations as a higher priority.

Consumers lack dealer finance knowledge Alphera Financial Services warns

Sep 19, 2018

Two-thirds of motorists are unaware of dealer obligations in the sale of car finance, according to recent research by Alphera Financial Services. It has published a new report on consumer attitudes to car finance which warns that the lack of awareness could leave customers open to mis-selling and says there’s a clear need to improve customer knowledge, trust and satisfaction. The report also says that customers can be ambivalent towards discussing car finance, with 71% putting paint colour considerations as a higher priority.

Russo-British Chamber of Commerce hosts London meeting with Sova Capital

The Russo-British Chamber of Commerce (RBCC) has partnered with Sova Capital to host a welcome event for new members. A key mission of the RBCC is to help develop trade and cooperation between the UK and Russia.

Russo-British Chamber of Commerce hosts London meeting with Sova Capital

Sep 19, 2018

The Russo-British Chamber of Commerce (RBCC) has partnered with Sova Capital to host a welcome event for new members. A key mission of the RBCC is to help develop trade and cooperation between the UK and Russia.

Auto finance still needs the human touch says Mann Island Finance

The availability of the human touch in dealer finance is fast becoming a differentiator not to be overlooked by dealers, according to the head of Mann Island Finance. Despite the rush for speed and efficiency in dealer finance through online services, John Hughes, the company’s managing director, says offering a ‘human proposition’ can be an advantage.

Auto finance still needs the human touch says Mann Island Finance

Sep 19, 2018

The availability of the human touch in dealer finance is fast becoming a differentiator not to be overlooked by dealers, according to the head of Mann Island Finance. Despite the rush for speed and efficiency in dealer finance through online services, John Hughes, the company’s managing director, says offering a ‘human proposition’ can be an advantage.

 

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The digitalisation challenge – how auto finance companies need to respond

A skilled, diverse workforce is the key to successfully tackling the digitalisation challenge. By having different views and different backgrounds, a company can broaden its horizons and introduce new ideas and an enthusiasm for innovation that will lay the foundations for companies to adapt to change. According to Andy Denton, CEO of global financial software giant Alfa, companies need a cultural shift to embrace the potential of digitalisation.

The digitalisation challenge – how auto finance companies need to respond

Jun 25, 2018

A skilled, diverse workforce is the key to successfully tackling the digitalisation challenge. By having different views and different backgrounds, a company can broaden its horizons and introduce new ideas and an enthusiasm for innovation that will lay the foundations for companies to adapt to change. According to Andy Denton, CEO of global financial software giant Alfa, companies need a cultural shift to embrace the potential of digitalisation.

 

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Nick Brownrigg, Mike Randall, Reverend Dr Bill Dost and Gerry Kouris honoured at International Asset Finance Network Awards 2018

Some of the most influential and inspiring people in auto, fleet and equipment finance were honoured at the International Asset Finance Network Awards 2018 in London. During a gala dinner on September 13 in front of hundreds of industry leaders, awards host Colin Tourick, co-founder of the International Asset Finance Network, named the CEOs and business leaders who have helped reshape the industry in front of a packed audience at the Park Plaza Riverbank in London.

Nick Brownrigg, Mike Randall, Reverend Dr Bill Dost and Gerry Kouris honoured at International Asset Finance Network Awards 2018

Sep 14, 2018

Some of the most influential and inspiring people in auto, fleet and equipment finance were honoured at the International Asset Finance Network Awards 2018 in London. During a gala dinner on September 13 in front of hundreds of industry leaders, awards host Colin Tourick, co-founder of the International Asset Finance Network, named the CEOs and business leaders who have helped reshape the industry in front of a packed audience at the Park Plaza Riverbank in London.

Record audience of industry leaders at International Asset Finance Network conference

More than 400 delegates gathered for the International Asset Finance Network conference yesterday (September 13) to look at how technology is transforming auto, fleet and equipment finance. Delegates heard presentations from some of the most influential leaders and influencers in the industry during the event at the Park Plaza Riverbank, London, one of the biggest conferences of its kind in Europe.

Record audience of industry leaders at International Asset Finance Network conference

Sep 14, 2018

More than 400 delegates gathered for the International Asset Finance Network conference yesterday (September 13) to look at how technology is transforming auto, fleet and equipment finance. Delegates heard presentations from some of the most influential leaders and influencers in the industry during the event at the Park Plaza Riverbank, London, one of the biggest conferences of its kind in Europe.

Bynx rebrands as it evolves to support mobility revolution

Vehicle and asset management software company Bynx is rebranding as it adapts to fundamental changes in the automotive and transport industry. The rebranding touches every part of the company, from its logo and website to product names, in response to growing demand for wide-ranging mobility solutions, such as car sharing and subscription services. As part of the change, all products will now be branded Bynx, replacing bynxFLEET, bynxNET, bynxMOBILE and bynxSERVICES.

Bynx rebrands as it evolves to support mobility revolution

Sep 12, 2018

Vehicle and asset management software company Bynx is rebranding as it adapts to fundamental changes in the automotive and transport industry. The rebranding touches every part of the company, from its logo and website to product names, in response to growing demand for wide-ranging mobility solutions, such as car sharing and subscription services. As part of the change, all products will now be branded Bynx, replacing bynxFLEET, bynxNET, bynxMOBILE and bynxSERVICES.

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NextGear Capital appoints Amrit Singh as finance director

NextGear Capital has announced that Amrit Singh will be its new finance director. He will be responsible for overseeing the growth strategy of the business, which currently provides stock finance to more than 1,500 UK dealers and franchises. Last year, NextGear Capital celebrated a key milestone after funding 200,000 vehicles in the UK since its launch. The total value of vehicles financed exceeded £1.4 billion since the company first started offering finance in 2014.

NextGear Capital appoints Amrit Singh as finance director

Sep 11, 2018

NextGear Capital has announced that Amrit Singh will be its new finance director. He will be responsible for overseeing the growth strategy of the business, which currently provides stock finance to more than 1,500 UK dealers and franchises. Last year, NextGear Capital celebrated a key milestone after funding 200,000 vehicles in the UK since its launch. The total value of vehicles financed exceeded £1.4 billion since the company first started offering finance in 2014.

Brian D. DePonte to lead Key Equipment Finance clean energy division

Key Equipment Finance, one of the largest bank-held equipment finance companies in the US, has promoted Brian D. DePonte to lead Key Equipment Finance Clean Energy. The business is a unified clean energy and energy efficiency team providing financing solutions for vendors, developers and clients. DePonte will lead the company’s finance initiatives across all types of clean energy products, including solar installations, fuel cells, LED and other lighting solutions, energy efficient heating and cooling, combined heat and power, and other new energy innovations.

Brian D. DePonte to lead Key Equipment Finance clean energy division

Sep 11, 2018

Key Equipment Finance, one of the largest bank-held equipment finance companies in the US, has promoted Brian D. DePonte to lead Key Equipment Finance Clean Energy. The business is a unified clean energy and energy efficiency team providing financing solutions for vendors, developers and clients. DePonte will lead the company’s finance initiatives across all types of clean energy products, including solar installations, fuel cells, LED and other lighting solutions, energy efficient heating and cooling, combined heat and power, and other new energy innovations.

Quotevine founder Daniel Layne plans for global expansion to bring asset finance into the digital age

Technology business Quotevine is targeting 500% growth by 2020 as it expands coverage for its cloud-based asset and automotive finance management software. The company has already secured more than 40 clients in the UK for its cloud-based system, which offers a range of modules ranging from origination to risk management, customer service and compliance. Customers include major clients such as 1pm, Toyota Financial Services and MotoNovo Finance, along with a number of smaller companies.

Quotevine founder Daniel Layne plans for global expansion to bring asset finance into the digital age

Sep 11, 2018

Technology business Quotevine is targeting 500% growth by 2020 as it expands coverage for its cloud-based asset and automotive finance management software. The company has already secured more than 40 clients in the UK for its cloud-based system, which offers a range of modules ranging from origination to risk management, customer service and compliance. Customers include major clients such as 1pm, Toyota Financial Services and MotoNovo Finance, along with a number of smaller companies.

Kyriba launches centralised tracking technology for corporate leases as IFRS 16 deadline looms

A global provider of cloud treasury and financial management services has launched a new lease accounting solution with centralised tracking of all corporate leases. Kyriba’s new platform is designed so that accounting teams, corporate treasurers, CFOs and other senior financial executives can better mitigate risk as new accounting standards come into force in the next year. New standards include IFRS 16, which comes into force in 2019, under which companies will be required to prepare detailed reporting and calculations for ‘off balance sheet’ leases.

Kyriba launches centralised tracking technology for corporate leases as IFRS 16 deadline looms

Sep 11, 2018

A global provider of cloud treasury and financial management services has launched a new lease accounting solution with centralised tracking of all corporate leases. Kyriba’s new platform is designed so that accounting teams, corporate treasurers, CFOs and other senior financial executives can better mitigate risk as new accounting standards come into force in the next year. New standards include IFRS 16, which comes into force in 2019, under which companies will be required to prepare detailed reporting and calculations for ‘off balance sheet’ leases.

Amazon signs one of world’s largest fleet deals with Mercedes-Benz

Amazon has become the world’s largest customer for the Mercedes-Benz Sprinter with an order for more than 20,000 vans in the US. The deal was announced as Mercedes-Benz Vans opened its new Sprinter plant for the North American market, where most of the initial production has been for the global online retailer. The facility in South Carolina cost $500 million, with more than 900 people working at the expanded site. That number is set to grow up to 1,300 by the end of 2020.

Amazon signs one of world’s largest fleet deals with Mercedes-Benz

Sep 10, 2018

Amazon has become the world’s largest customer for the Mercedes-Benz Sprinter with an order for more than 20,000 vans in the US. The deal was announced as Mercedes-Benz Vans opened its new Sprinter plant for the North American market, where most of the initial production has been for the global online retailer. The facility in South Carolina cost $500 million, with more than 900 people working at the expanded site. That number is set to grow up to 1,300 by the end of 2020.

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New York uses revenues from ‘Dieselgate’ fines to boost EVs

Andrew Cuomo, the governor of New York, has announced the city is to use some of the $127.7 millio...

Hundreds of industry leaders prepare for International Asset Finance Network conference and awards dinner

  More than 350 key figures from the global auto, equipment and fleet finance sectors will be ...

New UK laws to make it easier for small businesses to access invoice finance

The UK minister for small businesses, Kelly Tolhurst, has put forward new laws to help small busin...

Ally to exit transportation equipment finance

Ally Financial has announced it is to exit both the transportation equipment finance and the RV co...