November 6, 2023

FINATIV: INSIGHT

November 2023

As we move into the latter part of the year, it’s right to think about 2024 and the opportunities that it will bring.  THE hot topic right now is AI and in Simon Potts, we’re lucky to have someone in the team who’s been a global leader in this field. His article is full of guidance on how to progress and the decisions leaders need to take. 

On a related topic, we recently announced that the Technology & Innovation Forum, our free-to-join, specialist technology peer group for the asset and motor finance industry now has over 50 members. We highlight two key dates, both focused on AI – on 15th November, a case study showcasing how AI is being used in the motor finance sales process, then in London on 17th January a face-to-face, interactive event to help Forum members identify value-adding uses cases across their end-to-end customer journey. We welcome new members to the group – please reach out if you’d like to attend.

2024 is likely to see a rise in M&A activity - Christian Roelofs highlights reasons for the current lull and the importance of timing your buy/sell activity. We also outline opportunities to support customers importing assets with a combined asset/trade finance proposition, and the reasons behind the growth of Pay-Per-Use demand from finance companies and OEMs.

No doubt 2024 will also demand continued growth in productivity and the implementation of digital technologies that drive improved customer experience and greater operational efficiency. These are two areas in which Louise Ikonomides, our new Consulting Director, has great experience. Please reach out to her to see how they can be applied to your business.

What Gen AI Means Right Now For The Financing Industry

It has been impossible to avoid the buzz surrounding Gen AI. Nearly a quarter of all articles from the global consultancies, IT industry and our own sector are extolling the potential of Gen AI, explaining how it has been created, how it can be used, and how it will change the way we all work. We are indeed now on the cusp of experiencing the biggest leap forward since the adoption of the internet.

But trying to work out what it means for your financing organisation is decidedly not straightforward. This article may help. [...]

Read the full article

where are the mergers and acquisitions

M&A: Where Have All The Deals Gone?

With such a focus on growth over the last 12 months across the industry, and that growth not necessarily coming from the market, you would have expected more to have happened on the M&A front. However, taking a step back, there are a number of key reasons for this and some interesting alternative approaches that have been considered all of which could be great news for buyers in the near future.[...]

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Technology & Innovation Forum: Planning For 2024

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.[...]

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Operations Expert Louise Ikonomides Joins Finativ

As part of our drive to support finance companies and technology providers through all phases of the economic cycle, we’re delighted to announce the appointment of Louise Ikonomides in the role of Consulting Director.

Spanning business leadership, technology development, consulting and a long history in operational outsourcing, Louise has great experience - previous roles include Managing Director of Banking Works, COO of QV Systems and Head of Business Improvement at Time Finance plc.

As part of the Finativ team Louise will focus on operational reviews, process design and improvement, system and standards implementations, portfolio outsourcing, due diligence and business integration services.

Welcome Louise!

louise.ikonomides@finativ.co.uk

Should Trade Finance Be A Standard Offering In An Asset Finance Company's Portfolio?

It's reported that, pre-COVID, smaller businesses in the UK faced a £56 billion trade finance shortfall, a void which has potentially widened in the aftermath of the pandemic.

On a global scale, the World Economic Forum estimated a staggering $2 trillion funding gap in cross-border trade, which grows year on year. 

Once deemed cumbersome and document-heavy, trade finance is now an opportunity waiting to be discovered.

Could asset finance companies without a trade finance proposition seize this opportunity to develop a comprehensive solution that addresses the gap and turn it into a profitable venture while operating within an existing risk framework?[...]

Read the full article

pay-per-use

Growth In Demand For Pay-Per-Use Contracts

After a lengthy period of much talk and little action, over recent months we have seen a material uplift in interest from finance companies and, indirectly, from OEMs in pay-per-use (PPU) funding structures for the asset finance market. 

The proposition for all stakeholders appears to be getting clearer and there are material developments in the finance company's ability to deliver. [...]

Read the full article

See you there?

Over the coming weeks, members of the team will be attending the following events. Hopefully we’ll see you at some of these.

9 November: Automotive Management Live - NEC, Birmingham

15 November: Technology & Innovation Forum - Tony Lynch, Toyota Financial Services

28/29 November: BCR Alternative and Receivables Finance Conference, London

29 November: Asset Finance Connect, London

5 December: AFPA Trust Christmas Drinks, London

15 December: Leasing Industry Charity Christmas Lunch, London

17 January: Technology & Innovation Forum - In-person event, Canary Wharf, London

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