Canon captive in network supplier leasing deal

Canon Financial Services (CFS) has signed a vendor partnership with PSA, the world’s largest systems integrator cooperative. The deal will see the captive offer PSA systems integrators B2B lease financing solutions and programs designed to sell products and services in the network video surveillance market.

Canon captive in network supplier leasing deal

Jun 21, 2018

Canon Financial Services (CFS) has signed a vendor partnership with PSA, the world’s largest systems integrator cooperative. The deal will see the captive offer PSA systems integrators B2B lease financing solutions and programs designed to sell products and services in the network video surveillance market.

Fora Financial moves into equipment financing

New York city-based Fora Financial, which offers flexible financing solutions to small businesses, has acquired a significant stake in US Business Funding (USBF), a leading provider of equipment financing. The two companies say their partnership will create a direct sales organization in the small business alternative lending space, with the aim of growing the finance and leasing business.

Fora Financial moves into equipment financing

Jun 21, 2018

New York city-based Fora Financial, which offers flexible financing solutions to small businesses, has acquired a significant stake in US Business Funding (USBF), a leading provider of equipment financing. The two companies say their partnership will create a direct sales organization in the small business alternative lending space, with the aim of growing the finance and leasing business.

New CFPB head faces challenge

Fresh controversy has hit the Consumer Financial Protection Bureau (CFPB) over the nomination of the candidate to be the new permanent head of the federal agency. With acting director Mick Mulvaney now ending his tenure, the White House has announced it intends to appoint Kathy Kraninger as director.

New CFPB head faces challenge

Jun 21, 2018

Fresh controversy has hit the Consumer Financial Protection Bureau (CFPB) over the nomination of the candidate to be the new permanent head of the federal agency. With acting director Mick Mulvaney now ending his tenure, the White House has announced it intends to appoint Kathy Kraninger as director.

EMEA

Outsourcing in UK dominated by financial services

May 25, 2018

Financial services companies accounted for more than half of UK outsourcing contracts in the first quarter of 2018, according to new research. Outsourcing contracts worth £718 million were signed in the UK between January and March, with financial services and retail businesses the most active buyers, according to the Arvato UK Outsourcing Index. The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that deals worth £363 million were signed in the financial services sector during Q1 2018.

Americas

Equipment lessor faces fraud charges

Jun 15, 2018

The Securities and Exchange Commission (SEC) has charged an equipment leasing company and its founder with defrauding investors in connection with sales of more than $80 million in promissory notes. According to the US regulator, between 2014 and 2017, Essex Capital Corporation and its founder, Ralph Iannelli, made a series of false and misleading statements and illusory personal guarantees to registered investment advisers to induce them to invest millions of dollars of their clients' money in Essex's failing equipment leasing business.

Asia Pacific

Santander builds ties to support China’s $900bn Belt and Road initiative

Apr 12, 2018

Santander and Bank of Shanghai have announced a strategic alliance as part of China’s Belt and Road initiative, one of the world’s biggest infrastructure projects. The memorandum of understanding between the two banks will focus on Europe and Latin America elements of the Chinese-led project to connect its mainland, the ASEAN countries, the Middle East, and Central and Eastern Europe via road and maritime routes. The initiative is set to be the defining legacy of Xi Jinping, China’s president, which has already attracted world leaders to discuss how the initiative will develop.