Uber hack hits mobility ambitions

Ride-sharing app Uber has revealed that hackers gained access to the information of 57 million customers late last year. Chief executive Dara Khosrowshahi, who took over this summer, wrote on the company’s website that Uber had failed to notify individuals or regulators at the time of the breach.

Uber hack hits mobility ambitions

Nov 23, 2017

Ride-sharing app Uber has revealed that hackers gained access to the information of 57 million customers late last year. Chief executive Dara Khosrowshahi, who took over this summer, wrote on the company’s website that Uber had failed to notify individuals or regulators at the time of the breach.

White Clarke Group secures major software award

Automotive, consumer and equipment finance technology firm White Clarke Group has been named the best performing company in banking and insurance software at a key industry awards ceremony. It secured the honour at the Megabuyte50 awards, an annual event held to mark the launch of an independent ranking of the UK’s best-performing, privately-owned technology companies.

White Clarke Group secures major software award

Nov 23, 2017

Automotive, consumer and equipment finance technology firm White Clarke Group has been named the best performing company in banking and insurance software at a key industry awards ceremony. It secured the honour at the Megabuyte50 awards, an annual event held to mark the launch of an independent ranking of the UK’s best-performing, privately-owned technology companies.

D&D Leasing hosts Christmas charity event

D&D Leasing is continuing its tradition of raising awareness of less well-known and often underfunded charities for its charity event on Tuesday 14 December in London. Funds raised at the event will go towards Karma Nirvana, which supports the victims of honour-based abuse and forced marriage.

D&D Leasing hosts Christmas charity event

Nov 23, 2017

D&D Leasing is continuing its tradition of raising awareness of less well-known and often underfunded charities for its charity event on Tuesday 14 December in London. Funds raised at the event will go towards Karma Nirvana, which supports the victims of honour-based abuse and forced marriage.

Embrace mobility disruption and really get to know your customer

Auto finance companies need to develop a much deeper understanding of their customers if they are to successfully launch new services that meet changing demands. Although processes such as ‘Know Your Customer’ provide valuable insight to avoid fraud and ensure affordability of loans, they don’t go far enough in understanding the nuances that indicate changing customer expectations when it comes to the finance products they use. Without this insight, established finance providers face losing market share to disruptive competitors that are focused on getting closer to customers and offering innovative products that are more flexible and personalised. Graeme Banister, an independent specialist in mobility issues, recently told finance executives: “As car finance companies, you know about ‘KYC – Know Your Customer’. I challenge all car finance companies, because you don’t actually know a lot about your customers.”

Embrace mobility disruption and really get to know your customer

Nov 15, 2017

Auto finance companies need to develop a much deeper understanding of their customers if they are to successfully launch new services that meet changing demands. Although processes such as ‘Know Your Customer’ provide valuable insight to avoid fraud and ensure affordability of loans, they don’t go far enough in understanding the nuances that indicate changing customer expectations when it comes to the finance products they use. Without this insight, established finance providers face losing market share to disruptive competitors that are focused on getting closer to customers and offering innovative products that are more flexible and personalised. Graeme Banister, an independent specialist in mobility issues, recently told finance executives: “As car finance companies, you know about ‘KYC – Know Your Customer’. I challenge all car finance companies, because you don’t actually know a lot about your customers.”

Thurlow Nunn adopts incadea technology

UK dealer group Thurlow Nunn has agreed a major partnership with dealership software company incadea. Incadea, which is a Cox Automotive business that works with more than 4,000 dealerships and 100,000 users across 21 countries, will provide the Vauxhall franchised dealer group with a full retail operating system.

Thurlow Nunn adopts incadea technology

Nov 23, 2017

UK dealer group Thurlow Nunn has agreed a major partnership with dealership software company incadea. Incadea, which is a Cox Automotive business that works with more than 4,000 dealerships and 100,000 users across 21 countries, will provide the Vauxhall franchised dealer group with a full retail operating system.

Vendor finance – answering the tough questions

It is now the norm for manufacturers and larger vendors to offer some kind of financing solution to their customers and their motivations for doing so vary from a sole focus on income generation right through to a sole focus on sales closure support. The financing model used also varies from, at one extreme, a loose referral program with supporting funders through to a formally established on balance sheet captive business with many variants in between.

Vendor finance – answering the tough questions

Nov 23, 2017

It is now the norm for manufacturers and larger vendors to offer some kind of financing solution to their customers and their motivations for doing so vary from a sole focus on income generation right through to a sole focus on sales closure support. The financing model used also varies from, at one extreme, a loose referral program with supporting funders through to a formally established on balance sheet captive business with many variants in between.

UK Budget: mostly good news, but more details to come

UK Chancellor of the Exchequer Philip Hammond unveiled his Budget statement on November 22, under the new arrangement for the main annual tax changes to be announced in the autumn for the following year. Some predicted tax increases did not materialise, which will be welcomed by the wider business community.

UK Budget: mostly good news, but more details to come

Nov 23, 2017

UK Chancellor of the Exchequer Philip Hammond unveiled his Budget statement on November 22, under the new arrangement for the main annual tax changes to be announced in the autumn for the following year. Some predicted tax increases did not materialise, which will be welcomed by the wider business community.

Beneficial Bank names new launch after its founder

Beneficial Bank has named its new equipment leasing business after the bank’s founder, John Neumann. Neumann Finance will focus on providing financing products and services to businesses nationwide, covering equipment categories including technology, software, office, medical and other areas.

Beneficial Bank names new launch after its founder

Nov 22, 2017

Beneficial Bank has named its new equipment leasing business after the bank’s founder, John Neumann. Neumann Finance will focus on providing financing products and services to businesses nationwide, covering equipment categories including technology, software, office, medical and other areas.

Country Report Europe 2017 550x150

Equipment finance sector optimistic

Equipment finance companies are feeling more optimistic about future prospects, according to the latest data from the US Equipment Leasing and Finance Foundation. Its monthly confidence index for the equipment finance industry (MCI-EFI) shows confidence in the sector has risen markedly in November and now stands at 67, up from 63.7 in October.

Equipment finance sector optimistic

Nov 22, 2017

Equipment finance companies are feeling more optimistic about future prospects, according to the latest data from the US Equipment Leasing and Finance Foundation. Its monthly confidence index for the equipment finance industry (MCI-EFI) shows confidence in the sector has risen markedly in November and now stands at 67, up from 63.7 in October.

Key Equipment Finance backs sustainable solar

Key Equipment Finance has provided the financing for a solar array in Deerfield, Massachusetts, which is due to begin commercial operation later this month. It is projected to produce more than 7,200MWh of electricity in its first year.

Key Equipment Finance backs sustainable solar

Nov 22, 2017

Key Equipment Finance has provided the financing for a solar array in Deerfield, Massachusetts, which is due to begin commercial operation later this month. It is projected to produce more than 7,200MWh of electricity in its first year.

DLL’s inaugural securitization raises $500m

Leasing vendor finance specialist DLL has announced the closing of its inaugural securitization for $501.5 million. The securitization is backed by a portfolio of agricultural equipment loans and leases in the US.

DLL’s inaugural securitization raises $500m

Nov 22, 2017

Leasing vendor finance specialist DLL has announced the closing of its inaugural securitization for $501.5 million. The securitization is backed by a portfolio of agricultural equipment loans and leases in the US.

Ex-Santander auto lender boss in $700m payout

Santander has agreed to pay Thomas Dundon, the former head of its US sub-prime auto lending business, Santander Consumer USA, more than $700m in an exit deal which has taken over two years to agree. Dundon, who founded the company in 1995, left the auto lender in 2015 after a series of clashes with regulators.

Ex-Santander auto lender boss in $700m payout

Nov 22, 2017

Santander has agreed to pay Thomas Dundon, the former head of its US sub-prime auto lending business, Santander Consumer USA, more than $700m in an exit deal which has taken over two years to agree. Dundon, who founded the company in 1995, left the auto lender in 2015 after a series of clashes with regulators.

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Fitch Ratings posts mixed outlook for finance and leasing companies

Fitch Ratings has predicted a mixed outlook for US finance and leasing companies in 2018, citing weakening asset quality and residual values across many asset classes, in addition to regulatory environment uncertainty. However, the agency says most finance and leasing companies are better capitalized than before the financial crisis, given more conservative leverage policies and this should serve as a structural tailwind to offset tougher portfolio credit profiles.

Fitch Ratings posts mixed outlook for finance and leasing companies

Nov 22, 2017

Fitch Ratings has predicted a mixed outlook for US finance and leasing companies in 2018, citing weakening asset quality and residual values across many asset classes, in addition to regulatory environment uncertainty. However, the agency says most finance and leasing companies are better capitalized than before the financial crisis, given more conservative leverage policies and this should serve as a structural tailwind to offset tougher portfolio credit profiles.

Dealers remain key in online auto sales

Despite the rise in online car buying and financing platforms, dealers retain their role as a crucial part of vehicle purchases, according to research by J. D. Power. The automotive consultancy’s 2017 US Sales Satisfaction Index Study shows that while car shoppers are arming themselves with more vehicle information before going into a dealership, it is the pre-purchase interaction inside the dealership that leads to high sales satisfaction.

Dealers remain key in online auto sales

Nov 22, 2017

Despite the rise in online car buying and financing platforms, dealers retain their role as a crucial part of vehicle purchases, according to research by J. D. Power. The automotive consultancy’s 2017 US Sales Satisfaction Index Study shows that while car shoppers are arming themselves with more vehicle information before going into a dealership, it is the pre-purchase interaction inside the dealership that leads to high sales satisfaction.

Auto Captives Summit 2018 – time to Think Bigger!

A powerful line-up of innovators, disrupters and industry leaders are set to deliver thought-provoking sessions at the upcoming Auto Captives Summit, at the famous London Shard on 25th January 2018! Don’t miss this unique opportunity to attend White Clarke Group's 3rd annual event, network with senior executives from across the Globe, and enjoy the views from one of London’s most prestigious conference venues.

Auto Captives Summit 2018 – time to Think Bigger!

Nov 20, 2017

A powerful line-up of innovators, disrupters and industry leaders are set to deliver thought-provoking sessions at the upcoming Auto Captives Summit, at the famous London Shard on 25th January 2018! Don’t miss this unique opportunity to attend White Clarke Group's 3rd annual event, network with senior executives from across the Globe, and enjoy the views from one of London’s most prestigious conference venues.

Fleet Renting selects Bynx to support Mexican mobility strategy

Mexico-based start-up Fleet Renting has selected Bynx as its technology partner for a new generation of integrated vehicle mobility solutions. Fleet Renting aims to be one of the first complete and integrated mobility service providers for corporate and private customers in Mexico. As part of this, it has selected bynxFLEET, along with its rapid implementation service bynxGO, as its dedicated fleet and mobility management platform.

Fleet Renting selects Bynx to support Mexican mobility strategy

Nov 17, 2017

Mexico-based start-up Fleet Renting has selected Bynx as its technology partner for a new generation of integrated vehicle mobility solutions. Fleet Renting aims to be one of the first complete and integrated mobility service providers for corporate and private customers in Mexico. As part of this, it has selected bynxFLEET, along with its rapid implementation service bynxGO, as its dedicated fleet and mobility management platform.

New sales director for cap hpi

Automotive data expert cap hpi has promoted John Dennis to the role of UK sales director. Dennis initially joined the business in 2003 as a key account manager and most recently was head of finance. In a former post as national sector manager, he led the finance sales function and played a key role in supporting the company’s continued growth.

New sales director for cap hpi

Nov 17, 2017

Automotive data expert cap hpi has promoted John Dennis to the role of UK sales director. Dennis initially joined the business in 2003 as a key account manager and most recently was head of finance. In a former post as national sector manager, he led the finance sales function and played a key role in supporting the company’s continued growth.

Leaseurope urges caution following approval of new accounting rules

Leaseurope has called for restraint in the roll out of new international accounting standards after they received EU approval. The international lease accounting standard IFRS 16 received official endorsement last week and is set to become mandatory from January 2019.

Leaseurope urges caution following approval of new accounting rules

Nov 17, 2017

Leaseurope has called for restraint in the roll out of new international accounting standards after they received EU approval. The international lease accounting standard IFRS 16 received official endorsement last week and is set to become mandatory from January 2019.

Equifax results a ‘stern warning’ to industry over cyber-security

Finance companies have been urged to consider the costs of cyber-security failures after details emerged of the financial impact of a security breach at Equifax earlier this year. The costs related to a cyber-attack at the global credit monitoring firm totaled around $87 million in its third-quarter results for 2017. Although the company reported revenue of $834.8 million in Q3 2017, a 4% increase on the same period last year, net income was down 27% to $96.3 million.

Equifax results a ‘stern warning’ to industry over cyber-security

Nov 17, 2017

Finance companies have been urged to consider the costs of cyber-security failures after details emerged of the financial impact of a security breach at Equifax earlier this year. The costs related to a cyber-attack at the global credit monitoring firm totaled around $87 million in its third-quarter results for 2017. Although the company reported revenue of $834.8 million in Q3 2017, a 4% increase on the same period last year, net income was down 27% to $96.3 million.

Jacqui Barker joins iVendi as first head of OEM relations

Automotive industry specialist Jacqui Barker has been appointed to the newly-created position of head of OEM relations at iVendi. Barker joins from AutoTrader, where she spent four years as client development director.

Jacqui Barker joins iVendi as first head of OEM relations

Nov 17, 2017

Automotive industry specialist Jacqui Barker has been appointed to the newly-created position of head of OEM relations at iVendi. Barker joins from AutoTrader, where she spent four years as client development director.

UK launches inquiry into potential of Mobility as a Service

A committtee of UK MPs has launched an inquiry into the transformative potential of Mobility as a Service apps and how to overcome barriers to their implementation. The Transport Select Committee is calling for written evidence to be submitted by Friday, 22 December 2017.

UK launches inquiry into potential of Mobility as a Service

Nov 16, 2017

A committtee of UK MPs has launched an inquiry into the transformative potential of Mobility as a Service apps and how to overcome barriers to their implementation. The Transport Select Committee is calling for written evidence to be submitted by Friday, 22 December 2017.

UK consumer new car finance volumes fall

New business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, latest figures from the UK’s Finance & Leasing Association (FLA) show. Its research also showed that growth in the value of new business was flat over the same period. In Q3 2017 overall, new business was up 1% by value, but fell 9% by volume.

UK consumer new car finance volumes fall

Nov 16, 2017

New business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, latest figures from the UK’s Finance & Leasing Association (FLA) show. Its research also showed that growth in the value of new business was flat over the same period. In Q3 2017 overall, new business was up 1% by value, but fell 9% by volume.

UK businesses urged to consider asset finance

Fewer than one-third of UK companies say they have used asset finance or plan to use it in the nex...

Leading industry investors drive Cazana’s growth plans

Used vehicle database Cazana has received investment totaling £1.75m to continue its rapid growth,...

Fintech company offers enhanced fraud insight for industry

A fintech company's new platform could help finance providers to safeguard their investments ...

Alfa joins Stonewall Diversity Champions programme

Alfa, the global provider of software and services to the automotive and equipment finance industr...