Digitalisation

BMW hosts first European meeting for Mobility Open Blockchain Initiative

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

BMW hosts first European meeting for Mobility Open Blockchain Initiative

Feb 14, 2019

The BMW Group is hosting the first European meeting of the Mobility Open Blockchain Initiative (MOBI). The meeting, taking place in Munich, will see members of the consortium, which was co-founded by BMW, meeting with major technology companies from around the world, plus blockchain start-ups and specialists. MOBI aims to establish standards for the use of blockchain in the automotive market, which is particularly important as cars become more connected and interact with their environment and each other. Since the consortium’s creation, more than 100 companies, including 70% of the world’s car manufacturers, have joined MOBI to work on universal standards.

How BMW is delivering a new era of urban mobility solutions

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.

How BMW is delivering a new era of urban mobility solutions

Feb 13, 2019

Innovative mobility solutions are attracting a new generation of customers to BMW as attitudes to vehicle ownership change. BMW Group now has a customer base of 25 million for its mobility services, which range from car and ride-sharing to parking apps and electric vehicle charging. Tony Douglas, head of brand, marketing and communications for BMW Group Mobility Services, said growth was driven by global factors, such as urbanisation and the universal use of smartphones, on which many new services are based. He said: “I personally believe we are getting into the on-demand economy. You’re not selling one customer one car. You’re basically selling one car 1,000 times.” A full briefing on BMW’s investment in mobility services is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.

Experimenting with Automated Intelligence in asset finance

Finance providers should embrace the potential for intelligent software to transform their business operations by automating manual tasks and allowing employees to focus more on customer service excellence. Through an iterative process, suppliers can work with their customers to quickly develop digitalised services that could transform the way enquiries are managed, according to Morgan Owen, innovation consultant at White Clarke Group. As part of an innovation lab experiment at White Clarke Group, Owen looked at how a basic enquiry, such as settlement quote, could be answered automatically utilising natural language processing and artificial intelligence, leaving employees in a finance company to tackle more complex customer enquiries.

Experimenting with Automated Intelligence in asset finance

Jan 23, 2019

Finance providers should embrace the potential for intelligent software to transform their business operations by automating manual tasks and allowing employees to focus more on customer service excellence. Through an iterative process, suppliers can work with their customers to quickly develop digitalised services that could transform the way enquiries are managed, according to Morgan Owen, innovation consultant at White Clarke Group. As part of an innovation lab experiment at White Clarke Group, Owen looked at how a basic enquiry, such as settlement quote, could be answered automatically utilising natural language processing and artificial intelligence, leaving employees in a finance company to tackle more complex customer enquiries.

BNP Paribas Personal Finance UK partners with White Clarke Group to create new car finance offering

BNP Paribas Personal Finance UK has collaborated with global equipment and auto finance software company White Clarke Group to create a new motor finance solution. The finance company worked with specialist teams at White Clarke Group to create the new digital solution, which includes investment in enhanced IT platforms. A wide range of auto financing products will be offered through the service, including hire purchase, personal loans, stock financing, personal contract purchase and personal contract hire.

BNP Paribas Personal Finance UK partners with White Clarke Group to create new car finance offering

Jan 22, 2019

BNP Paribas Personal Finance UK has collaborated with global equipment and auto finance software company White Clarke Group to create a new motor finance solution. The finance company worked with specialist teams at White Clarke Group to create the new digital solution, which includes investment in enhanced IT platforms. A wide range of auto financing products will be offered through the service, including hire purchase, personal loans, stock financing, personal contract purchase and personal contract hire.

The future for equipment finance – pay for outcomes not assets

“Asset finance companies face a stark challenge as digital disruption changes the shape of the market.” This is the message from Jonathan Andrew, former global CEO commercial finance, Siemens Financial Services, who says changing customer expectations are reshaping the industry. In a speech before he left his role, he argued that businesses are becoming less interested in financing assets; instead, they want to pay for outcomes. For example, in industries such as healthcare there is less desire to pay for equipment such as an imaging machine. Instead, the focus is on paying for the positive results that are required from the equipment. This could include funding and supporting diagnostics, imaging, processes, people and facilities, all provided as a bundled service. Andrew said: “Somebody is taking a risk here to provide solutions, because the customer does not want to pay for the assets or the people or the diagnostics or the real estate that they’re using. They just want to pay for the outcome.” His vision of the future for equipment finance is covered in more detail in the following video, provided courtesy of global equipment and auto finance software company White Clarke Group.

The future for equipment finance – pay for outcomes not assets

Jan 16, 2019

“Asset finance companies face a stark challenge as digital disruption changes the shape of the market.” This is the message from Jonathan Andrew, former global CEO commercial finance, Siemens Financial Services, who says changing customer expectations are reshaping the industry. In a speech before he left his role, he argued that businesses are becoming less interested in financing assets; instead, they want to pay for outcomes. For example, in industries such as healthcare there is less desire to pay for equipment such as an imaging machine. Instead, the focus is on paying for the positive results that are required from the equipment. This could include funding and supporting diagnostics, imaging, processes, people and facilities, all provided as a bundled service. Andrew said: “Somebody is taking a risk here to provide solutions, because the customer does not want to pay for the assets or the people or the diagnostics or the real estate that they’re using. They just want to pay for the outcome.” His vision of the future for equipment finance is covered in more detail in the following video, provided courtesy of global equipment and auto finance software company White Clarke Group.

Why leasing companies must adjust their skillsets to meet growing private customer demand

A growing army of employees are throwing off the chains of their company car schemes in favour of cash, so they are free to source their own vehicles instead. In response, the leasing industry is adapting to offer new services to retain their business as drivers change from fleet to retail customers, spurred on by higher company car taxes and limited choice lists. For suppliers, the shift is bringing a wide range of challenges as the market shifts from a B2B to a B2C environment, including the need for new skillsets among leasing company employees to manage a different type of customer journey. Miguel Cabaça, managing director of Arval UK, provides a briefing on the issues facing the leasing industry in this exclusive video, provided courtesy of global financial software supplier White Clarke Group.

Why leasing companies must adjust their skillsets to meet growing private customer demand

Dec 19, 2018

A growing army of employees are throwing off the chains of their company car schemes in favour of cash, so they are free to source their own vehicles instead. In response, the leasing industry is adapting to offer new services to retain their business as drivers change from fleet to retail customers, spurred on by higher company car taxes and limited choice lists. For suppliers, the shift is bringing a wide range of challenges as the market shifts from a B2B to a B2C environment, including the need for new skillsets among leasing company employees to manage a different type of customer journey. Miguel Cabaça, managing director of Arval UK, provides a briefing on the issues facing the leasing industry in this exclusive video, provided courtesy of global financial software supplier White Clarke Group.

Nordea enhances Open Banking with instant reporting solution

Nordic bank Nordea has launched a new instant reporting service to enhance the benefits of Open Banking legislation for corporate customers. The service allows corporate clients to digitally access their accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in the second EU Payment Services Directive (PSD2) by offering a commercial product.

Nordea enhances Open Banking with instant reporting solution

Dec 17, 2018

Nordic bank Nordea has launched a new instant reporting service to enhance the benefits of Open Banking legislation for corporate customers. The service allows corporate clients to digitally access their accounts and integrate real-time data with their own systems and processes. It is the first offering from Nordea that moves beyond legal requirements in the second EU Payment Services Directive (PSD2) by offering a commercial product.

Digital lender iwoca adds Barclays and HSBC to Open Banking connections

Digital small business lending pioneer iwoca has connected leading banks Barclays and HSBC to its platform through Open Banking. The finance company now has connections to three of country’s largest banks after it completed the first ground-breaking agreement with Lloyds Bank in November. As a result of the expansion, 60% of iwoca’s customers can now make use of Open Banking services, under which customers can give verified third-parties secure access to their bank data to speed up the lending process.

Digital lender iwoca adds Barclays and HSBC to Open Banking connections

Dec 12, 2018

Digital small business lending pioneer iwoca has connected leading banks Barclays and HSBC to its platform through Open Banking. The finance company now has connections to three of country’s largest banks after it completed the first ground-breaking agreement with Lloyds Bank in November. As a result of the expansion, 60% of iwoca’s customers can now make use of Open Banking services, under which customers can give verified third-parties secure access to their bank data to speed up the lending process.

How to create a seamless auto finance journey from home to the showroom

When customers buy cars and vehicle finance, their purchasing journey typically switches between online and offline methods four times before completion, and they expect this journey to be seamless. With 86% of car buyers starting their journey online, the challenge facing auto finance companies is how to integrate both the digital and physical experience, so the customer journey progresses smoothly without buyers needing to start again when they visit a showroom. A major initiative at FCA Bank has been tackling the ‘online to offline’ challenge by shaping a new digitalization journey. It began in 2013 and is expected to offer full e-commerce by 2020, with customers using a platform at home that can also be accessed at dealerships. You can hear more about the ‘O2O’ journey in this exclusive presentation by Giacomo Carelli, CEO of FCA Bank, provided courtesy of leading finance software provider White Clarke Group.

How to create a seamless auto finance journey from home to the showroom

Dec 05, 2018

When customers buy cars and vehicle finance, their purchasing journey typically switches between online and offline methods four times before completion, and they expect this journey to be seamless. With 86% of car buyers starting their journey online, the challenge facing auto finance companies is how to integrate both the digital and physical experience, so the customer journey progresses smoothly without buyers needing to start again when they visit a showroom. A major initiative at FCA Bank has been tackling the ‘online to offline’ challenge by shaping a new digitalization journey. It began in 2013 and is expected to offer full e-commerce by 2020, with customers using a platform at home that can also be accessed at dealerships. You can hear more about the ‘O2O’ journey in this exclusive presentation by Giacomo Carelli, CEO of FCA Bank, provided courtesy of leading finance software provider White Clarke Group.

Digitalisation and robotic process automation boost Bancolombia results

Bancolombia increased total assets during the third quarter of 2018 as it reported digitalisation and automation were driving growth. Its Q3 results revealed that total assets reached 206,655 billion Colombian Pesos (COP) (USD$64 billion), a rise of 1.26% year-on-year, while asset growth between quarters two and three stood at 1.03%. The bank is the largest leasing company in Latin America, according to the Alta LAR 100, and has recently made a series of moves to digitise its services. It highlighted that 14% of new loans issued in Q3 were processed entirely online.

Digitalisation and robotic process automation boost Bancolombia results

Dec 04, 2018

Bancolombia increased total assets during the third quarter of 2018 as it reported digitalisation and automation were driving growth. Its Q3 results revealed that total assets reached 206,655 billion Colombian Pesos (COP) (USD$64 billion), a rise of 1.26% year-on-year, while asset growth between quarters two and three stood at 1.03%. The bank is the largest leasing company in Latin America, according to the Alta LAR 100, and has recently made a series of moves to digitise its services. It highlighted that 14% of new loans issued in Q3 were processed entirely online.

White Clarke Group provides new data insights through OpenText Analytics integration

Finance technology company White Clarke Group is providing new advanced data visualisation services, dashboards and intelligent analysis in a partnership with information management company OpenText. OpenText Analytics offfers a comprehensive set of analytics software which White Clarke Group will use to provide users of its CALMS platform with enhanced data insights. The CALMS platform is used by automotive, consumer and equipment finance companies around the world to manage their process flows for loan origination and loan servicing.

White Clarke Group provides new data insights through OpenText Analytics integration

Nov 21, 2018

Finance technology company White Clarke Group is providing new advanced data visualisation services, dashboards and intelligent analysis in a partnership with information management company OpenText. OpenText Analytics offfers a comprehensive set of analytics software which White Clarke Group will use to provide users of its CALMS platform with enhanced data insights. The CALMS platform is used by automotive, consumer and equipment finance companies around the world to manage their process flows for loan origination and loan servicing.

Is this the end of finance leasing?

New financial models developed to challenge traditional funding products could mean the end for finance lease, experts are claiming. They say the linear economy is dying, ending the cycle of production, individual consumption and waste that has underpinned business development for centuries. Instead, the rise of the sharing economy will see much more intensive use of assets by multiple clients, enabled through innovations in software. This change also sees assets gain a new lease of life as they are repurposed following their initial period of use, finding new clients after they are refurbished and recycled. Find out more in this video provided courtesy of financial software provider White Clarke Group, which features Carmen Ene, CEO, 3 Step IT and Duncan Hullis, country manager UK, De Lage Landen.

Is this the end of finance leasing?

Nov 07, 2018

New financial models developed to challenge traditional funding products could mean the end for finance lease, experts are claiming. They say the linear economy is dying, ending the cycle of production, individual consumption and waste that has underpinned business development for centuries. Instead, the rise of the sharing economy will see much more intensive use of assets by multiple clients, enabled through innovations in software. This change also sees assets gain a new lease of life as they are repurposed following their initial period of use, finding new clients after they are refurbished and recycled. Find out more in this video provided courtesy of financial software provider White Clarke Group, which features Carmen Ene, CEO, 3 Step IT and Duncan Hullis, country manager UK, De Lage Landen.

NatWest launches trial of digital business banking for SMEs

UK bank NatWest, part of the Royal Bank of Scotland, has announced the launch of a new digital bank account for small businesses. The introduction of the smartphone-based account, called Mettle, responds to a growing appetite for digital banking services among consumers and businesses. Mettle combines a current account, including a debit card, with invoicing and bookkeeping capabilities. Customers open a business current account by downloading the app, which can be used to forecast their business performance, create invoices from their smartphone and provide reminders for chasing payments.

NatWest launches trial of digital business banking for SMEs

Nov 06, 2018

UK bank NatWest, part of the Royal Bank of Scotland, has announced the launch of a new digital bank account for small businesses. The introduction of the smartphone-based account, called Mettle, responds to a growing appetite for digital banking services among consumers and businesses. Mettle combines a current account, including a debit card, with invoicing and bookkeeping capabilities. Customers open a business current account by downloading the app, which can be used to forecast their business performance, create invoices from their smartphone and provide reminders for chasing payments.

White Clarke Group acquires equipment finance software specialist Insyston

Lending technology company White Clarke Group has announced the acquisition of equipment finance software provider Insyston. Founded in 1998, Insyston is an end-to-end asset finance software provider based in Sydney, Australia. The acquisition supports White Clarke Group’s expansion plans in the Australian, European and North American equipment finance sectors, and adds to its cloud hosting expertise.

White Clarke Group acquires equipment finance software specialist Insyston

Nov 01, 2018

Lending technology company White Clarke Group has announced the acquisition of equipment finance software provider Insyston. Founded in 1998, Insyston is an end-to-end asset finance software provider based in Sydney, Australia. The acquisition supports White Clarke Group’s expansion plans in the Australian, European and North American equipment finance sectors, and adds to its cloud hosting expertise.

Volvo Financial Services launches iLabX innovation Lab for Technology Entrepreneurs

Volvo Financial Services (VFS) has launched iLabX, an accelerator program designed to provide entrepreneurial companies from around the world in fintech and other fields with the opportunity to collaborate with VFS. The aim is to develop and implement new innovative solutions and technologies that can ultimately benefit customers, dealers, and partners.

Volvo Financial Services launches iLabX innovation Lab for Technology Entrepreneurs

Oct 25, 2018

Volvo Financial Services (VFS) has launched iLabX, an accelerator program designed to provide entrepreneurial companies from around the world in fintech and other fields with the opportunity to collaborate with VFS. The aim is to develop and implement new innovative solutions and technologies that can ultimately benefit customers, dealers, and partners.

White Clarke Group - Global Tech Report 2018

Digital customer engagement is fast becoming the norm, and lenders are already experimenting with using AI and machine learning to revolutionize customer service. Digital customer engagement is fast becoming the norm, and lenders are already experimenting with using AI and machine learning to revolutionize customer service. Existing options, such as phoning an agent in a call center, or chatting online, are expensive to provide and present challenges in ensuring information is delivered and recorded to comply with financial regulations. Auto finance companies are now in a technological arms race to develop new products that maintain customer loyalty and generate new business.

White Clarke Group - Global Tech Report 2018

Apr 16, 2018

Digital customer engagement is fast becoming the norm, and lenders are already experimenting with using AI and machine learning to revolutionize customer service. Digital customer engagement is fast becoming the norm, and lenders are already experimenting with using AI and machine learning to revolutionize customer service. Existing options, such as phoning an agent in a call center, or chatting online, are expensive to provide and present challenges in ensuring information is delivered and recorded to comply with financial regulations. Auto finance companies are now in a technological arms race to develop new products that maintain customer loyalty and generate new business.

BMW introduces car subscriptions with ventures in UK and US

BMW is offering new car subscription services on both sides of the Atlantic with the launch of two new initiatives. In the US, BMW Financial Services has launched a pilot vehicle subscription service called Access by BMW. The service will debut as a pilot program in Nashville, Tennessee and will operate through local BMW dealers, who are responsible for vehicle deliveries and maintenance.

BMW introduces car subscriptions with ventures in UK and US

Apr 09, 2018

BMW is offering new car subscription services on both sides of the Atlantic with the launch of two new initiatives. In the US, BMW Financial Services has launched a pilot vehicle subscription service called Access by BMW. The service will debut as a pilot program in Nashville, Tennessee and will operate through local BMW dealers, who are responsible for vehicle deliveries and maintenance.

Digital Reasoning raises $30m to target fintech growth

Artificial intelligence business Digital Reasoning has raised $30 million in a new funding round led by BNP Paribas. As part of the funding round, Angel Rodriguez-Issa, global head of strategic investments, global markets at BNP Paribas, has joined Digital Reasoning’s board of directors. Barclays and Square Capital also joined the round, as well as previous investors Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City.

Digital Reasoning raises $30m to target fintech growth

Apr 09, 2018

Artificial intelligence business Digital Reasoning has raised $30 million in a new funding round led by BNP Paribas. As part of the funding round, Angel Rodriguez-Issa, global head of strategic investments, global markets at BNP Paribas, has joined Digital Reasoning’s board of directors. Barclays and Square Capital also joined the round, as well as previous investors Goldman Sachs, Nasdaq, Lemhi Ventures, HCA, and the Partnership Fund for New York City.

Auto lenders essential checks explained in countdown to GDPR

Companies must assess the potential impact of the EU’s General Data Protection Legislation in four key areas before it comes into force in May 2018. The GDPR strengthens data protection regulations for all individuals within the EU and aims to give control of personal data back to consumers. While there are currently data protection laws in place, the new legislation increases the level of compliance needed by companies and also introduces tougher penalties for data breaches and service failures. Ashley Winton, partner at McDermott, Will & Emery, guided delegates at the International Auto Finance Network conference through the four main areas of change.

Auto lenders essential checks explained in countdown to GDPR

Mar 28, 2018

Companies must assess the potential impact of the EU’s General Data Protection Legislation in four key areas before it comes into force in May 2018. The GDPR strengthens data protection regulations for all individuals within the EU and aims to give control of personal data back to consumers. While there are currently data protection laws in place, the new legislation increases the level of compliance needed by companies and also introduces tougher penalties for data breaches and service failures. Ashley Winton, partner at McDermott, Will & Emery, guided delegates at the International Auto Finance Network conference through the four main areas of change.

Volvo Financial Services wins award for work on digital transformation

Volvo Financial Services (VFS) has won a major digital transformation award for its work on a new mobile platform for truck customers. It is one of the winners of IDG Enterprise’s 2018 Digital Edge 50 Awards, presented annually by IDG, one of the world’s largest technology, media, data and marketing services companies. Award winners are selected by a panel of industry experts including business and technology executives.

Volvo Financial Services wins award for work on digital transformation

Mar 22, 2018

Volvo Financial Services (VFS) has won a major digital transformation award for its work on a new mobile platform for truck customers. It is one of the winners of IDG Enterprise’s 2018 Digital Edge 50 Awards, presented annually by IDG, one of the world’s largest technology, media, data and marketing services companies. Award winners are selected by a panel of industry experts including business and technology executives.

Two-thirds of finance companies plan blockchain initiatives

The majority of finance organisations are preparing to implement blockchain initiatives to exploit the potential benefits of the technology. According to new research from credit management and order to cash experts Onguard, 65% of companies are already prepared or preparing for blockchain-related programmes. The in-depth study of more than 1000 finance professionals revealed that nearly one-quarter (23%) of the organisations polled are already using blockchain, with 27% in the process of working out their first ideas.

Two-thirds of finance companies plan blockchain initiatives

Mar 21, 2018

The majority of finance organisations are preparing to implement blockchain initiatives to exploit the potential benefits of the technology. According to new research from credit management and order to cash experts Onguard, 65% of companies are already prepared or preparing for blockchain-related programmes. The in-depth study of more than 1000 finance professionals revealed that nearly one-quarter (23%) of the organisations polled are already using blockchain, with 27% in the process of working out their first ideas.