Why the challenge of legacy systems must be addressed in 2020

The finance sector needs to embrace partnerships to cost effectively update its legacy systems and infrastructures to meet the future demands of consumers and businesses, industry experts warn. The comments follow industry analysis from GlobalData, which asked a range of experts about key finance trends for 2020.

Why the challenge of legacy systems must be addressed in 2020

Jan 20, 2020

The finance sector needs to embrace partnerships to cost effectively update its legacy systems and infrastructures to meet the future demands of consumers and businesses, industry experts warn. The comments follow industry analysis from GlobalData, which asked a range of experts about key finance trends for 2020.

Asia leads the way as fintech disruption changes finance markets

Fintech disruption in the services sector - ranging from pizza ordering through to car and computer equipment leasing - is not only likely to continue, it is also expected to accelerate over the coming years in response to the rapid digitalisation of the global economy, says Martin Morris.

Asia leads the way as fintech disruption changes finance markets

Jan 09, 2020

Fintech disruption in the services sector - ranging from pizza ordering through to car and computer equipment leasing - is not only likely to continue, it is also expected to accelerate over the coming years in response to the rapid digitalisation of the global economy, says Martin Morris.

Societe Generale Equipment Finance plans growth in 2020 as a leading provider of innovative and flexible asset finance solutions

Societe Generale Equipment Finance (SGEF) has confirmed its leadership position as the largest company in the annual Asset Finance Europe 50. Jochen Jehmlich, the company’s chief executive officer, explains how this position has been achieved through a focus on the customer experience, embracing technological transformation and financing the ‘real economy’.

Societe Generale Equipment Finance plans growth in 2020 as a leading provider of innovative and flexible asset finance solutions

Jan 06, 2020

Societe Generale Equipment Finance (SGEF) has confirmed its leadership position as the largest company in the annual Asset Finance Europe 50. Jochen Jehmlich, the company’s chief executive officer, explains how this position has been achieved through a focus on the customer experience, embracing technological transformation and financing the ‘real economy’.

PayPal Credit reaches £2 billion lending in UK

UK retailers incorporating PayPal Credit into their online checkout have seen an average 15% incremental increase in sales, the company says. PayPal Credit launched in the UK in 2014 to offer online credit that links to a customer’s PayPal account. It recently surpassed £2 billion in UK lending and 1.5 million PayPal Credit accounts. It also allows businesses to offer customers instalment payments on larger purchases. Retailers that offer PayPal Credit as a purchase option to allow payment by instalments include Dell, Voxi, Box, Watches of Switzerland, Goldsmiths and Mappin & Webb.

PayPal Credit reaches £2 billion lending in UK

Dec 23, 2019

UK retailers incorporating PayPal Credit into their online checkout have seen an average 15% incremental increase in sales, the company says. PayPal Credit launched in the UK in 2014 to offer online credit that links to a customer’s PayPal account. It recently surpassed £2 billion in UK lending and 1.5 million PayPal Credit accounts. It also allows businesses to offer customers instalment payments on larger purchases. Retailers that offer PayPal Credit as a purchase option to allow payment by instalments include Dell, Voxi, Box, Watches of Switzerland, Goldsmiths and Mappin & Webb.

Societe Generale leads exclusive AFE50 2019 rankings as it champions growth and innovation

Societe Generale has been named as the largest European asset finance company in the 2019 Asset Finance Europe 50 (AFE 50). The 2019 AFE50, sponsored by Alfa, provides insights into the European business equipment and car leasing industry, whose 50 largest members make up a community with lease receivables of nearly €300 billion. Societe Generale topped the annual tables as it saw its portfolio grow by 15.1%. The finance company, including its automotive leasing arm ALD, accounted for 28% of AFE50 growth in this year’s report.

Societe Generale leads exclusive AFE50 2019 rankings as it champions growth and innovation

Dec 20, 2019

Societe Generale has been named as the largest European asset finance company in the 2019 Asset Finance Europe 50 (AFE 50). The 2019 AFE50, sponsored by Alfa, provides insights into the European business equipment and car leasing industry, whose 50 largest members make up a community with lease receivables of nearly €300 billion. Societe Generale topped the annual tables as it saw its portfolio grow by 15.1%. The finance company, including its automotive leasing arm ALD, accounted for 28% of AFE50 growth in this year’s report.

Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

Asset Finance Europe 50 reveals key drivers of growth in €300bn industry

Dec 18, 2019

The third edition of the annual Asset Finance Europe 50 (AFE50) ranking survey has revealed strong growth for leading companies in the region. The unique European annual ranking survey, sponsored by Alfa, shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%. Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion. The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.

How to integrate data-powered software into fleet management operations to boost performance and cut costs

Companies are integrating data-powered software into their fleet operations to drive better management processes. Chris Black, commercial director at LeasePlan UK, looks at how software is making a difference for fleets by boosting performance and cutting costs.

How to integrate data-powered software into fleet management operations to boost performance and cut costs

Dec 11, 2019

Companies are integrating data-powered software into their fleet operations to drive better management processes. Chris Black, commercial director at LeasePlan UK, looks at how software is making a difference for fleets by boosting performance and cutting costs.

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.

Innovation