CIT point-of-sale digital platform wins global award

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

CIT point-of-sale digital platform wins global award

May 22, 2018

A point-of-sale platform from US-based CIT that allows business customers to finance their purchases in as little as five minutes has received a major award. The platform has been named Best Small Business Lending Solution by FinTech Breakthrough, an independent organisation that recognises the top companies, technologies and products in the global financial technology market. The FinTech Breakthrough Awards recognise fintech innovators, leaders and visionaries from around the world in a range of categories, including personal finance, lending, payments, investments, regtech, insurtech and other sectors.

Digital transformation powers finance innovation in manufacturing sector

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Digital transformation powers finance innovation in manufacturing sector

May 22, 2018

Digital transformation is driving change in manufacturing with equipment financing playing a key role in developments, according to a new report. Research from Siemens Financial Services (SFS) argues that finance has to adapt to the developing needs of the manufacturing sector, as it responds to the fundamental changes brought about by what experts are calling the fourth industrial revolution, or Industry 4.0.

Safeguarding data is vital for sustainable digital financial services

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Safeguarding data is vital for sustainable digital financial services

May 21, 2018

The speed and scale of digitalisation in the financial services sector is contributing to the emergence of new non-financial risks, a new report has revealed. Sustainable Financial Services in the Digital Age, a joint report from UK Finance and Parker Fitzgerald, comes only days before the introduction of the European Union's General Data Privacy Regulation (GDPR) and highlights the need for firms to consider their exposure to risk and operational resilience in today’s digital age.

Ford and GM among partners in global mobility blockchain initiative

Ford, General Motors, Groupe Renault and several other high-profile players in the automotive market have signed up to join the Mobility Open Blockchain Initiative (MOBI). The newly-formed alliance is dedicated to exploring blockchain for use in a new digital mobility ecosystem.

Ford and GM among partners in global mobility blockchain initiative

May 11, 2018

Ford, General Motors, Groupe Renault and several other high-profile players in the automotive market have signed up to join the Mobility Open Blockchain Initiative (MOBI). The newly-formed alliance is dedicated to exploring blockchain for use in a new digital mobility ecosystem.

White Clarke Group and Toyota Financial Services (UK) win award for digital innovation

Leading finance technology company, White Clarke Group, and Toyota Financial Services have received a joint accolade for their work on a digital innovation. The award is based on White Clarke Group’s CALMS Digital Processing Solution that went live with Toyota in October 2017. The CALMS Digital Processing Solution, including e-signature and e-identity capability, provides advanced digital processing capabilities for document generation and management, as well as helping streamline the customer experience and reduce operating costs.

White Clarke Group and Toyota Financial Services (UK) win award for digital innovation

May 04, 2018

Leading finance technology company, White Clarke Group, and Toyota Financial Services have received a joint accolade for their work on a digital innovation. The award is based on White Clarke Group’s CALMS Digital Processing Solution that went live with Toyota in October 2017. The CALMS Digital Processing Solution, including e-signature and e-identity capability, provides advanced digital processing capabilities for document generation and management, as well as helping streamline the customer experience and reduce operating costs.

Digital revolution “sounds the death knell for incrementalists”

Finance companies that compete by making only small improvements to their current services will come under threat from newer, more agile rivals, a leading industry expert has warned. Louise Beaumont, a start-up investor and industry advisor on open banking, points to the “democratisation of data” as the driving force behind fundamental changes in the finance eco-system.

Digital revolution “sounds the death knell for incrementalists”

May 01, 2018

Finance companies that compete by making only small improvements to their current services will come under threat from newer, more agile rivals, a leading industry expert has warned. Louise Beaumont, a start-up investor and industry advisor on open banking, points to the “democratisation of data” as the driving force behind fundamental changes in the finance eco-system.

Winning the war on cyber-crime — how your business should respond to online threats

Companies are fighting a cyber-war against criminals who carry out millions of daily attacks in a bid to steal personal data and defraud businesses of millions of dollars. That is the stark message from data security expert Royce Curtin, managing director of global intelligence at Barclays, who warns finance companies that they must constantly evolve their defences or risk falling victims to new scams. Gangs target companies to steal funds or increasingly to obtain customer data, which is then used to defraud consumers.

Winning the war on cyber-crime — how your business should respond to online threats

May 01, 2018

Companies are fighting a cyber-war against criminals who carry out millions of daily attacks in a bid to steal personal data and defraud businesses of millions of dollars. That is the stark message from data security expert Royce Curtin, managing director of global intelligence at Barclays, who warns finance companies that they must constantly evolve their defences or risk falling victims to new scams. Gangs target companies to steal funds or increasingly to obtain customer data, which is then used to defraud consumers.

Digital challenger bank Countingup attracts hundreds of SME customers

Countingup, the challenger bank that includes a built-in digital accountancy service, has attracted hundreds of SME customers since its launch this year. The online-only bank, which took just four months to come to market, offers a current account that can automatically carry out bookkeeping in real time. The company says this will save time, highlight tax savings and provide clarity to finance providers. The business was founded by Tim Fouracre, a chartered accountant who qualified with KPMG before setting up accountancy software company ClearBooks in 2008.

Digital challenger bank Countingup attracts hundreds of SME customers

Apr 30, 2018

Countingup, the challenger bank that includes a built-in digital accountancy service, has attracted hundreds of SME customers since its launch this year. The online-only bank, which took just four months to come to market, offers a current account that can automatically carry out bookkeeping in real time. The company says this will save time, highlight tax savings and provide clarity to finance providers. The business was founded by Tim Fouracre, a chartered accountant who qualified with KPMG before setting up accountancy software company ClearBooks in 2008.

BMW and Toyota outpace auto lending challenges through digitalisation

Digitalisation is transforming processes at auto finance companies to ensure they maintain market-leading products and services. BMW has used technology to improve its customer communication success levels, with call abandonment levels falling and successful contact rates doubling. At Toyota Financial Services, a modernisation process for lending decisions radically altered how it was able to handle customer repayment strategies and also accelerated growth without increasing headcount.

BMW and Toyota outpace auto lending challenges through digitalisation

Apr 16, 2018

Digitalisation is transforming processes at auto finance companies to ensure they maintain market-leading products and services. BMW has used technology to improve its customer communication success levels, with call abandonment levels falling and successful contact rates doubling. At Toyota Financial Services, a modernisation process for lending decisions radically altered how it was able to handle customer repayment strategies and also accelerated growth without increasing headcount.

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.