Digitalisation

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.

Daimler Financial Services invests in avatar-based customer service

Daimler Financial Services has made a strategic investment in Soul Machines, the New Zealand start-up that is a world leader in digital avatar-based customer service. The investment will help Daimler Financial Services to develop ‘near human’ digital services based around on-screen avatars that display ‘emotional intelligence’. The company brings technology to life by creating incredibly realistic, emotionally responsive, artificial humans with personality and character that allows machines to talk to humans face-to-face.

Daimler Financial Services invests in avatar-based customer service

Oct 19, 2018

Daimler Financial Services has made a strategic investment in Soul Machines, the New Zealand start-up that is a world leader in digital avatar-based customer service. The investment will help Daimler Financial Services to develop ‘near human’ digital services based around on-screen avatars that display ‘emotional intelligence’. The company brings technology to life by creating incredibly realistic, emotionally responsive, artificial humans with personality and character that allows machines to talk to humans face-to-face.

Exeter Finance extends partnership with White Clarke Group

Exeter Finance has extended its contract with financial software provider White Clarke Group for its CALMS Loan Origination Software. Exeter Finance is a specialty auto finance company based in Irving, Texas, that partners with franchised auto dealers throughout the country. Founded in 2006, it works with more than 9,000 US dealers and has a serviced finance portfolio of more than $3 billion dollars, with more than 200,000 customers nationwide.

Exeter Finance extends partnership with White Clarke Group

Oct 19, 2018

Exeter Finance has extended its contract with financial software provider White Clarke Group for its CALMS Loan Origination Software. Exeter Finance is a specialty auto finance company based in Irving, Texas, that partners with franchised auto dealers throughout the country. Founded in 2006, it works with more than 9,000 US dealers and has a serviced finance portfolio of more than $3 billion dollars, with more than 200,000 customers nationwide.

Fleet finance market faces radical change

Fleet finance companies are facing fundamental changes as they respond to new market dynamics and innovative opportunities for growth. The changes are being instigated by underlying trends in both the corporate and private vehicle segments, which were outlined at the recent International Asset Finance Network conference in London. A key trend is the increasing focus on the consumer segment as a source of growth for leasing companies, which requires a different approach compared to serving the fleet market, traditionally the leasing sector’s key source of demand. Tim Porter, managing director of Lex Autolease, the UK’s biggest leasing company, explains the factors behind the strategic change in this video, provided courtesy of global financial technology supplier White Clarke Group.

Fleet finance market faces radical change

Oct 16, 2018

Fleet finance companies are facing fundamental changes as they respond to new market dynamics and innovative opportunities for growth. The changes are being instigated by underlying trends in both the corporate and private vehicle segments, which were outlined at the recent International Asset Finance Network conference in London. A key trend is the increasing focus on the consumer segment as a source of growth for leasing companies, which requires a different approach compared to serving the fleet market, traditionally the leasing sector’s key source of demand. Tim Porter, managing director of Lex Autolease, the UK’s biggest leasing company, explains the factors behind the strategic change in this video, provided courtesy of global financial technology supplier White Clarke Group.

ChannelNet reveals global ambitions following landmark deal

ChannelNet is planning a global roll-out of its Software-as-a-Service digital platform following its landmark strategic partnership with White Clarke Group. ChannelNet has pioneered the use of digital marketing tools to support customer acquisition and retention, through mobile and web-based solutions. Founded more than 30 years ago, the digital marketing specialist brands itself as a digital pioneer, as it has been at the forefront of automating and digitising customer communication for decades.

ChannelNet reveals global ambitions following landmark deal

Sep 04, 2018

ChannelNet is planning a global roll-out of its Software-as-a-Service digital platform following its landmark strategic partnership with White Clarke Group. ChannelNet has pioneered the use of digital marketing tools to support customer acquisition and retention, through mobile and web-based solutions. Founded more than 30 years ago, the digital marketing specialist brands itself as a digital pioneer, as it has been at the forefront of automating and digitising customer communication for decades.

Tech giants eclipse banks in fintech patent race

Banks are being left behind when it comes to fintech innovation because technology giants are leading the investment race to develop potentially disruptive technologies. Research has revealed that IBM alone has five times more fintech patents than the largest 15 banks put together, with 24,000 fintech innovations, while Microsoft has 20,000 and Google 10,000. Analysis of the world’s 15 largest banks found that Bank of America was leading the way by investing in technology patents for developing its business. Its 2,547 patents are nearly as many as the combined portfolio of the other 14 banks analysed.

Tech giants eclipse banks in fintech patent race

Aug 24, 2018

Banks are being left behind when it comes to fintech innovation because technology giants are leading the investment race to develop potentially disruptive technologies. Research has revealed that IBM alone has five times more fintech patents than the largest 15 banks put together, with 24,000 fintech innovations, while Microsoft has 20,000 and Google 10,000. Analysis of the world’s 15 largest banks found that Bank of America was leading the way by investing in technology patents for developing its business. Its 2,547 patents are nearly as many as the combined portfolio of the other 14 banks analysed.

Currency CEO Charles Anderson focuses on unique role for fintechs in equipment finance journey

Equipment finance providers need to consider their future role in the industry as the market is reshaped by digitalisation and changing customer expectations. That’s the view of Charles Anderson, the chief executive officer and founder of technology platform Currency, which is driving the development of new digital channels in finance. Despite the size of the $1.7 trillion equipment purchase market, with $1.1 trillion in finance, the sector is ‘behind the curve’ compared to other finance verticals, such as credit cards, mortgage, auto loans and general consumer finance, he argues. Anderson believes it is not a question of ‘if’ the market will be reshaped by technology, but ‘when’, as the sector adapts to meet a huge unmet need for an updated, digital finance experience.

Currency CEO Charles Anderson focuses on unique role for fintechs in equipment finance journey

Aug 13, 2018

Equipment finance providers need to consider their future role in the industry as the market is reshaped by digitalisation and changing customer expectations. That’s the view of Charles Anderson, the chief executive officer and founder of technology platform Currency, which is driving the development of new digital channels in finance. Despite the size of the $1.7 trillion equipment purchase market, with $1.1 trillion in finance, the sector is ‘behind the curve’ compared to other finance verticals, such as credit cards, mortgage, auto loans and general consumer finance, he argues. Anderson believes it is not a question of ‘if’ the market will be reshaped by technology, but ‘when’, as the sector adapts to meet a huge unmet need for an updated, digital finance experience.

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.

Mercedes-Benz Bank latest to offer car subscription service

Mercedes-Benz Bank is piloting a new car subscription service that allows customers to swap between up to 12 vehicles a year for a single monthly payment. The new Mercedes me Flexperience car-as-a-service platform covers all costs, from insurance to servicing and tyre repairs, inclusive of up to 36,000kms a year. The new offer is based on Mercedes-Benz Rent, the rental offer from Mercedes-Benz Bank, and was developed as a joint project between Daimler Financial Services and Lab1886, the innovation hub of Daimler.

Mercedes-Benz Bank latest to offer car subscription service

Mar 09, 2018

Mercedes-Benz Bank is piloting a new car subscription service that allows customers to swap between up to 12 vehicles a year for a single monthly payment. The new Mercedes me Flexperience car-as-a-service platform covers all costs, from insurance to servicing and tyre repairs, inclusive of up to 36,000kms a year. The new offer is based on Mercedes-Benz Rent, the rental offer from Mercedes-Benz Bank, and was developed as a joint project between Daimler Financial Services and Lab1886, the innovation hub of Daimler.

Car manufacturers need greater website focus on finance

Car manufacturers are failing to make the most of engaged customers who visit their websites and review potential finance options because of design flaws and poor customer journeys, industry experts claim. Consumers are more likely to configure a car, request a brochure, request a quote and request a test drive if they have visited the finance section of a manufacturer’s website, automotive digital market intelligence provider Sophus3 says. However, car brand websites need to do more to turn this high level of engagement into sales.

Car manufacturers need greater website focus on finance

Feb 28, 2018

Car manufacturers are failing to make the most of engaged customers who visit their websites and review potential finance options because of design flaws and poor customer journeys, industry experts claim. Consumers are more likely to configure a car, request a brochure, request a quote and request a test drive if they have visited the finance section of a manufacturer’s website, automotive digital market intelligence provider Sophus3 says. However, car brand websites need to do more to turn this high level of engagement into sales.

Auto Lenders Guide: Creating New Revenue Streams with AI

A McKinsey AI report from January 2018 reveals an industry-wide AI-enabled value opportunity, which by 2025 is expected to generate an estimated US$215bn. However, how much of that potential can be captured by automotive finance companies? Connected cars are now poised to become the next digital wallet, allowing different institutions to connect with their customers to pay for goods and services all directly from the dashboard. This will provide Auto Finance lenders the potential to radically alter their relationship with their customers.

Auto Lenders Guide: Creating New Revenue Streams with AI

Feb 20, 2018

A McKinsey AI report from January 2018 reveals an industry-wide AI-enabled value opportunity, which by 2025 is expected to generate an estimated US$215bn. However, how much of that potential can be captured by automotive finance companies? Connected cars are now poised to become the next digital wallet, allowing different institutions to connect with their customers to pay for goods and services all directly from the dashboard. This will provide Auto Finance lenders the potential to radically alter their relationship with their customers.

Global fintech 4finance deploys FICO in 10 countries

4finance Group, Europe’s largest online and mobile consumer lender, has deployed FICO solutions across 10 countries and 20 back-office systems in just nine months. It has introduced the FICO TONBELLER Siron solution for anti-money laundering (AML) and know your customer (KYC). The cloud-based service ensures the company complies with global and regional regulations while maintaining 4finance’s promise to issue customers a loan in 15 minutes.

Global fintech 4finance deploys FICO in 10 countries

Feb 02, 2018

4finance Group, Europe’s largest online and mobile consumer lender, has deployed FICO solutions across 10 countries and 20 back-office systems in just nine months. It has introduced the FICO TONBELLER Siron solution for anti-money laundering (AML) and know your customer (KYC). The cloud-based service ensures the company complies with global and regional regulations while maintaining 4finance’s promise to issue customers a loan in 15 minutes.

Auto dealerships will become marketing hubs as finance goes online

What is the evolution of car dealerships? The owners of car lots may argue their place is essential in the supply chain, but they have actually been proving the online model for years, as much of their wholesale stock is now sourced via online channels, either direct through supplier portals or through online auctions. The logical next step is for consumers to follow in their online footsteps and embrace digital purchasing and finance channels, a process which is being pioneered by digital car retailer Rockar. Rockar founder Simon Dixon outlines his vision for the future in this video, provided courtesy of White Clarke Group.

Auto dealerships will become marketing hubs as finance goes online

Dec 07, 2017

What is the evolution of car dealerships? The owners of car lots may argue their place is essential in the supply chain, but they have actually been proving the online model for years, as much of their wholesale stock is now sourced via online channels, either direct through supplier portals or through online auctions. The logical next step is for consumers to follow in their online footsteps and embrace digital purchasing and finance channels, a process which is being pioneered by digital car retailer Rockar. Rockar founder Simon Dixon outlines his vision for the future in this video, provided courtesy of White Clarke Group.

Fintech company offers enhanced fraud insight for industry

A fintech company's new platform could help finance providers to safeguard their investments with greater levels of insight into key individuals in companies that receive their funds. Neotas alerts investors to cases of fraud and false identity or even incidents of inappropriate or suspicious behaviour on the part of CEOs or entrepreneurs.

Fintech company offers enhanced fraud insight for industry

Nov 16, 2017

A fintech company's new platform could help finance providers to safeguard their investments with greater levels of insight into key individuals in companies that receive their funds. Neotas alerts investors to cases of fraud and false identity or even incidents of inappropriate or suspicious behaviour on the part of CEOs or entrepreneurs.