In Reference Appointments & Updates
Oodle Car Finance has appointed Equiniti Credit Services (EQCS) as its standby servicer following the successful completion of its first asset-backed securitisation, worth £350m. The oversubscribed transaction saw the
fast-growing, online used-car finance provider attract demand from 14 European and international bond investors. With EQCS in place as its ongoing
standby servicer, Oodle has satisfied regulatory requirements and reassured its investors that assets will continue to be administered should the lender cease to trade or withdraw from the market. “Demonstrable contingency planning and
risk mitigation are important factors both during and after securitisation,” said Richard Carter, managing director, EQCS. “Having a reliable and robust backup
servicing partner in place when securitising loan books and loan portfolios can positively impact market value; it gives peace of mind that the portfolio will be securely managed should the worst happen, however unlikely that may be.”
Encore Capital Group has announced that Ken Stannard will be stepping down from his role as executive director and chief executive of its subsidiary, Cabot Credit Management, and, subject to certain regulatory approvals, has appointed Craig Buick as it his successor, effective at the end of 2019.
Global SME partner, Bibby Financial Services (BFS), has announced the appointment of Karl Leitelmayer as its head of business centre for trade finance. He said: “I am thrilled to be a joining a company that
is committed to supporting SMEs and the growth of the UK economy. I am hugely excited by the opportunity to develop its already well-established trade-finance offering, particularly for the SME sector, which is typically underserved with this type of funding. “Businesses are operating in an increasingly uncertain
environment, so it is crucial the right support is there for them to grow.” Karl Leitelmayer
“Under Ken’s leadership, Cabot
substantially strengthened its market leadership position in the UK and became one of the largest credit management services providers in Europe. In addition, Cabot was the first large credit-management services company in the UK to be authorised by the FCA,” said Ashish Masih, Encore’s president and chief executive officer. Mr Buick qualified as a chartered
accountant and held various senior roles at PricewaterhouseCoopers and GE Capital across Europe before joining Cabot.
Onguard has announced that in collaboration with Altares Dun & Bradstreet and Quantforce, machine learning will feature in its platform to enable businesses to predict the payment behaviour of debtors and act accordingly. Available from early 2020, the platform now brings together historical data from
Cedar Rose has announced that it has been recognised as a leader in know your customer and entity verification by One World Identity (OWI). OWI is a market intelligence and strategy firm focused on identity, trust, and the data economy. Antoun Massaad, Cedar Rose’s founder and CEO said:
“The region we have traditionally been covering for business intelligence, know your customer and entity- verification data has certainly had its share of challenges and we are working hard every day to not only increase our coverage in these difficult regions, but to expand our services to offer global entity verification very soon. “To be recognised by organisations like OWI and to be included on their
Antoun Massaad
2019 Identity Industry Landscape is testament to the hard work our teams are putting in every day. It makes me very proud for Cedar Rose to be included amongst the top companies in the world for our identity-verification services as well as for the digital technology that enables them.”
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Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and the relevant invoice and payment history of the client via machine learning on a scorecard generated by Quantforce. The resultant score ranks the debtors in order of the risk of non-payment, which enables organisations to estimate and anticipate the payment behaviour of clients at an early stage. “There is an enormous amount of
data available both within and outside organisations, which is currently not being used,” said Daniel van den Hoven, VP alliances and partners at Onguard. “With all available data, organisations can better understand customers. In addition, credit managers see at a glance which customer needs extra attention and can easily prioritise. The advantage for the organisation is that there is more focus on high-risk customers and that the processing time for invoices becomes shorter.”
New research from Emerging Payments Association reveals that ‘realtime’ payments are growing rapidly in the UK, signifying potential for business payments for banks and fintechs. Mark McMurtrie, EPA ambassador and
report author, said: “Realtime is the new normal for payments procession. Customers expect realtime, regulators encourage its adoption and competition demands that instant payment options are provided. “This comprehensive report, based on
input from an interactive workshop with EPA members, examines the key use cases, innovations and regulations behind the rapid growth of realtime in the UK, across Europe and throughout the world.”
December 2019
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