Senior management in finance companies blamed for slow adoption of artificial intelligence

One quarter of finance technology professionals believe resistance from senior managers is preventing their company from adopting data analytics, including artificial intelligence-based services. Executives at MHR Analytics, the company that commissioned the research, warn that a cultural shift in attitudes to analytics will be essential for businesses to compete in the age of digital transformation. The company questioned 500 professionals and discovered that 23% felt their company’s traditional reliance on manual spreadsheets was holding them back from taking advantage of widely available technology.

Senior management in finance companies blamed for slow adoption of artificial intelligence

Nov 22, 2019

One quarter of finance technology professionals believe resistance from senior managers is preventing their company from adopting data analytics, including artificial intelligence-based services. Executives at MHR Analytics, the company that commissioned the research, warn that a cultural shift in attitudes to analytics will be essential for businesses to compete in the age of digital transformation. The company questioned 500 professionals and discovered that 23% felt their company’s traditional reliance on manual spreadsheets was holding them back from taking advantage of widely available technology.

Tradeshift and SiS-id launch new app to combat payments fraud

Fraud protection specialist SiS-id has partnered with supply chain payments provider Tradeshift to launch a new app to combat payments fraud. The app, available in the Tradshift app store, is intended to deter thieves who trick companies into diverting funds into their own accounts instead of the supplier’s bank when paying invoices. In 2018, UK businesses alone transferred £93 million into the accounts of criminals who were posing as legitimate payees, according to industry body UK Finance.

Tradeshift and SiS-id launch new app to combat payments fraud

Nov 20, 2019

Fraud protection specialist SiS-id has partnered with supply chain payments provider Tradeshift to launch a new app to combat payments fraud. The app, available in the Tradshift app store, is intended to deter thieves who trick companies into diverting funds into their own accounts instead of the supplier’s bank when paying invoices. In 2018, UK businesses alone transferred £93 million into the accounts of criminals who were posing as legitimate payees, according to industry body UK Finance.

Alfa secures major German contract

Global asset finance software specialist Alfa has secured a new contract with the German subsidiary of a major international bank. The bank is one of the largest automotive finance providers in Germany and implementation work has been carried out throughout 2019.

Alfa secures major German contract

Nov 19, 2019

Global asset finance software specialist Alfa has secured a new contract with the German subsidiary of a major international bank. The bank is one of the largest automotive finance providers in Germany and implementation work has been carried out throughout 2019.

Hampshire Trust Bank invests in Alfa Systems to deliver digital strategy

Hampshire Trust Bank’s specialist business finance division has invested in Alfa Systems, the leading asset finance software provided by Alfa. The investment in Alfa’s cloud-based platform will be integral to Hampshire Trust Bank’s digital strategy to deploy ‘best in breed’ software and services, bank executives say. The asset finance specific leasing administration system streamlines operations through automation and enables both high-volume transactions and complex leases.

Hampshire Trust Bank invests in Alfa Systems to deliver digital strategy

Nov 13, 2019

Hampshire Trust Bank’s specialist business finance division has invested in Alfa Systems, the leading asset finance software provided by Alfa. The investment in Alfa’s cloud-based platform will be integral to Hampshire Trust Bank’s digital strategy to deploy ‘best in breed’ software and services, bank executives say. The asset finance specific leasing administration system streamlines operations through automation and enables both high-volume transactions and complex leases.

Give drivers more control over their own connected car data

As the EU’s General Data Protection Regulation (GDPR) becomes part and parcel of everyday life, it feels as though cars are set to be next battleground in the debate on the collection and use of personal data, argues Michel Alsemgeest, chief digital officer of LeasePlan.

Give drivers more control over their own connected car data

Nov 08, 2019

As the EU’s General Data Protection Regulation (GDPR) becomes part and parcel of everyday life, it feels as though cars are set to be next battleground in the debate on the collection and use of personal data, argues Michel Alsemgeest, chief digital officer of LeasePlan.

Manufacturers urged to take control of costs through Energy-as-a-Service

Innovative Energy-as-a-Service solutions could help UK manufacturers save nearly £6 billion ($7.7 billion) over the next five years, according to a new research paper from Siemens Financial Services. The report, entitled ‘Future Savings – Current Gain’, suggests the chemical manufacturing sector alone could cut costs by £954 million ($1.2 billion), while the food and drink sector could save £800 million ($1 billion). Siemens says that by partnering with a trusted vendor to deliver energy savings through a ‘self-funding performance contract’, some manufacturing sites could reduce energy costs by 40%.

Manufacturers urged to take control of costs through Energy-as-a-Service

Oct 28, 2019

Innovative Energy-as-a-Service solutions could help UK manufacturers save nearly £6 billion ($7.7 billion) over the next five years, according to a new research paper from Siemens Financial Services. The report, entitled ‘Future Savings – Current Gain’, suggests the chemical manufacturing sector alone could cut costs by £954 million ($1.2 billion), while the food and drink sector could save £800 million ($1 billion). Siemens says that by partnering with a trusted vendor to deliver energy savings through a ‘self-funding performance contract’, some manufacturing sites could reduce energy costs by 40%.

Technology start-ups present future mobility ideas to auto industry leaders

Tech start-ups and SMEs have shared their ideas for the future of mobility with five of the world’s leading motor industry brands at a major industry initiative to help shape the future of transport. The Future Mobility Challenge is an initiative from the UK's Society of Motor Manufacturers and Traders’ aimed at partnering innovative businesses with major brands to help develop their ideas. New transport solutions were presented by 43 start-ups and SMEs from nine different countries to representatives from Ford Mobility, Bosch, Toyota, Honda and Volvo.

Technology start-ups present future mobility ideas to auto industry leaders

Oct 24, 2019

Tech start-ups and SMEs have shared their ideas for the future of mobility with five of the world’s leading motor industry brands at a major industry initiative to help shape the future of transport. The Future Mobility Challenge is an initiative from the UK's Society of Motor Manufacturers and Traders’ aimed at partnering innovative businesses with major brands to help develop their ideas. New transport solutions were presented by 43 start-ups and SMEs from nine different countries to representatives from Ford Mobility, Bosch, Toyota, Honda and Volvo.

New position paper suggests AI offers both risks and rewards for asset finance

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

New position paper suggests AI offers both risks and rewards for asset finance

Oct 09, 2019

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

Alfa expands European footprint as it adds two major clients

Financial software company Alfa has gone live with two large-scale equipment finance providers, which adds a number of new European countries to its global footprint. With one client, a leading European transport financing company, Alfa completed a major systems replacement project to upscale operational efficiency in the Netherlands, Latvia, Romania and Ireland. This provides the platform to roll out the company’s Alfa Systems software for a further nine portfolios across Europe. The client has fully integrated contract management, invoicing and CRM, incorporating workflow management to ensure improved time to market for new products, and increased revenues through new products and services. A second client, a globally recognised name in agriculture and construction, went live with Alfa Point of Sale in Spain and Germany.

Alfa expands European footprint as it adds two major clients

Oct 09, 2019

Financial software company Alfa has gone live with two large-scale equipment finance providers, which adds a number of new European countries to its global footprint. With one client, a leading European transport financing company, Alfa completed a major systems replacement project to upscale operational efficiency in the Netherlands, Latvia, Romania and Ireland. This provides the platform to roll out the company’s Alfa Systems software for a further nine portfolios across Europe. The client has fully integrated contract management, invoicing and CRM, incorporating workflow management to ensure improved time to market for new products, and increased revenues through new products and services. A second client, a globally recognised name in agriculture and construction, went live with Alfa Point of Sale in Spain and Germany.

Stripe raises $250m to expand services

Online payments platform Stripe has raised $250 million in a new funding round to power global growth and develop new services. Investors included General Catalyst, Sequoia, and Andreessen Horowitz. The additional investment gives the business a pre-money valuation of $35 billion. Stripe will use the capital to accelerate its growth in three key areas: international expansion; growing its product suite; and extending its enterprise capabilities.

Stripe raises $250m to expand services

Oct 04, 2019

Online payments platform Stripe has raised $250 million in a new funding round to power global growth and develop new services. Investors included General Catalyst, Sequoia, and Andreessen Horowitz. The additional investment gives the business a pre-money valuation of $35 billion. Stripe will use the capital to accelerate its growth in three key areas: international expansion; growing its product suite; and extending its enterprise capabilities.

AI-based system aims to revolutionise fleet inspections

A company that uses artificial intelligence to provide a full vehicle inspection in as little as four seconds aims to revolutionise fleet management. UVeye, a startup with offices in the US and Israel, originally developed a system for bomb-detection before adapting the system to inspect cars for defects and problems. The company, which employs around 100 people, provides its vehicle inspection service through three systems, with Atlas and Helios assessing every area of the vehicle’s body, including the underbody, while Artemis monitors tyre condition.

AI-based system aims to revolutionise fleet inspections

Sep 24, 2019

A company that uses artificial intelligence to provide a full vehicle inspection in as little as four seconds aims to revolutionise fleet management. UVeye, a startup with offices in the US and Israel, originally developed a system for bomb-detection before adapting the system to inspect cars for defects and problems. The company, which employs around 100 people, provides its vehicle inspection service through three systems, with Atlas and Helios assessing every area of the vehicle’s body, including the underbody, while Artemis monitors tyre condition.

Why a connected world raises the stakes when systems fail

A recent article in Automotive News highlighted one of the downsides of the everything-connected world of omni-channel retailing; when something goes wrong in one place, its impacts are felt throughout the network and across a range of partners. Over the weekend of 17th August, extremely hot weather in Denver, Colorado, caused a power outage, which in turn knocked out a data centre hosting Nissan’s communications network and systems for the whole of the USA, Canada, and Mexico.

Why a connected world raises the stakes when systems fail

Sep 17, 2019

A recent article in Automotive News highlighted one of the downsides of the everything-connected world of omni-channel retailing; when something goes wrong in one place, its impacts are felt throughout the network and across a range of partners. Over the weekend of 17th August, extremely hot weather in Denver, Colorado, caused a power outage, which in turn knocked out a data centre hosting Nissan’s communications network and systems for the whole of the USA, Canada, and Mexico.

Legacy IT infrastructure holding back businesses

Legacy IT infrastructure is having a crippling impact on some businesses, limiting growth and driving up costs, according to new research. Analysis conducted by Forrester Consulting concluded that organisations with disjointed and outdated IT based on legacy tools and strategies are trapped in a perpetual ‘survival cycle’ that leaves them unable to innovate. The IT operations management survey said legacy tools are causing lengthened service disruptions and poor customer experience, while not supporting the shift to cloud-based operations or more modern infrastructure.

Legacy IT infrastructure holding back businesses

Sep 16, 2019

Legacy IT infrastructure is having a crippling impact on some businesses, limiting growth and driving up costs, according to new research. Analysis conducted by Forrester Consulting concluded that organisations with disjointed and outdated IT based on legacy tools and strategies are trapped in a perpetual ‘survival cycle’ that leaves them unable to innovate. The IT operations management survey said legacy tools are causing lengthened service disruptions and poor customer experience, while not supporting the shift to cloud-based operations or more modern infrastructure.

Volvo completes first online car sale in UK

Volvo Car UK has completed the first fully online vehicle sale on its new digital finance platform. The manufacturer claims the platform, called Volvo Online, is the most complete online sales offering from any car manufacturer, with the entire purchase process taking as little as 20 minutes. The site offers customers a range of finance options including personal contract purchase, personal contract hire, conditional sale and outright purchase.

Volvo completes first online car sale in UK

Jul 12, 2019

Volvo Car UK has completed the first fully online vehicle sale on its new digital finance platform. The manufacturer claims the platform, called Volvo Online, is the most complete online sales offering from any car manufacturer, with the entire purchase process taking as little as 20 minutes. The site offers customers a range of finance options including personal contract purchase, personal contract hire, conditional sale and outright purchase.

Innovation