The Request for Proposal has been the backbone of technology selection in specialty finance for decades. It promises rigour, comparability and an audit trail. Yet ask the people who run these processes today, on either side of the table, and a consensus emerges quickly: the traditional RFP is broken. What is less obvious is what […]
In our previous articles in this series, we explored the distinct challenges that asset finance providers face across the proposal-to-payout journey: the technology infrastructure barriers that slow credit decisions, the data quality issues that delay funds release, and the integrated systems, process, and people approach required for sustainable improvement. This fourth instalment turns to a […]
Asset finance providers seeking competitive advantage in the prop-to-payout journey often search for single solutions to complex challenges. The reality is more nuanced: sustainable improvement requires coordinated action across systems, processes, and people. Whilst technology investment addresses infrastructure barriers and process standardisation tackles data quality issues, neither delivers full value without clear accountability and transparent […]
Executive Summary Following our examination of speed to decision challenges, the payout phase represents an equally critical bottleneck in the proposal-to-payout journey. Recent industry discussions reveal that data quality issues have emerged as the primary obstacle to payout acceleration, with incomplete or inconsistent documentation causing delays that frustrate customers, dealers, and brokers at the final […]
Executive summary Asset finance providers face a critical tension: everyone recognises that speed to decision matters, yet half remain held back by inadequate technology infrastructure. This isn't a minor operational concern; delays in credit decisions translate directly to lost business. Customers seeking asset finance increasingly expect rapid responses, and brokers route business to providers who […]
You are well into a large-scale, long-term project and as the next steering committee meeting approaches, you’re reviewing the RAG status. There are no red lights, a few amber, but that’s only to be expected. The majority are green, so there’s nothing to worry about. Yes, the timeline on a project of this nature is […]
In the 18 months since we started our Technology & Innovation Forum, we have seen our membership quadruple, with 85 participants representing more than 50 asset and automotive financial services businesses. In some respects, we find ourselves returning to familiar, key topics - data, microservices, agile development – even revisiting the most recent developments, such […]
We all know that selecting and deploying a contract management system (CMS) for your finance business is most likely going to be a long, and at times painful, undertaking. Whilst many vendors are working hard to improve and accelerate the implementation process, by its very nature it is difficult to find short cuts: many tasks […]
Whether we are looking at the news, or receiving a business update, we hear constant talk of issues with projects – delays to airport projects, cancellation of rail projects, overspend on infrastructure, bugs in new software. Within the finance services sector, in our daily lives, we are, I am sure, all uncomfortably familiar with projects […]
Previously, in this series, looking at some of the common themes emerging from the Technology & Innovation Forum, we addressed the topic of education and identified a dependency on company culture. This article will consider the critical role of Agile Teams in bringing IT and business together to effect digital transformation and positively impact business […]
As we approach the first anniversary of launching the online, (and now monthly) format of the Technology & Innovation Forum, a review of our previous content has revealed several recurring themes. While the topics addressed - Organisational Structure, Data, Microservices, and AI - were deliberately chosen based on member requests, the summaries, conclusions, and recommendations […]
In our previous articles, we have seen how PPU can improve retention and grant access to new customer segments; understood the importance and value of the data opportunities provided by PPU; and learned that PPU can contribute towards tangible demonstration of a business’s ESG credentials. What’s not to like? Why are we not seeing faster […]
Article published in association with FIS As the name “pay per use” implies, the product offers the end customer the prospect of only paying for what they need from a vehicle rather than paying for it regardless of whether or not they use it. This calculation can be a little uncomfortable for the average private […]
As with any business, activities planned for the start of the next year are largely in place in the final quarter of the previous year. And as the Technology & Innovation Forum approaches and soon passes its first birthday, it seems only appropriate to start 2024 with a face-to-face meeting. People Want to Get Together […]
We can see it, we’re just not sure how we can get there In common with many futuristic business models, it is relatively easy to imagine some vague point in the future when more and more consumers will enjoy the flexibility offered by automotive subscriptions: swapping vehicles more regularly, as and when needed according to […]
After launching the online Technology & Innovation Forum at the start of the year and, having tried a few different agendas and formats, as well as investing in some bespoke software to facilitate our activities, Finativ took the opportunity of the extended summer break between sessions to review our endeavours to date. We had individual […]
There are very few businesses in the financial services sector which would not profess to be in some way undergoing a digital transformation. The challenges are, how successful are they in their endeavours, and how far are they in their journey? To provide context against which to measure their own progress, participants in the most […]
In the continually evolving landscape of technology, microservices have emerged as a potential game-changer in the world of finance. Their promise: a shift away from cumbersome legacy systems, increased flexibility, and an accelerated time-to-market. Yet, as with all promising advancements, it's not all plain sailing. This article delves into the practicalities and challenges of adopting […]
The concept of car subscription has been a recurring topic in online and offline discussions among industry insiders. Companies such as Porsche Passport and Care by Volvo have received considerable attention, no doubt driven by their effective PR campaigns. However, despite the product being available for over four years, subscription models have yet to generate […]
