In Reference Appointments & Updates
Tara Williams will be re-joining AutoProtect Group at the start of March, filling the newly created role of chief risk and compliance officer. Additionally, she will become managing director of i-Comply Online – the business she headed up following its acquisition by AutoProtect in 2014. Her appointment comes at a crucial time for dealer
F&I as successive Financial Conduct Authority reports – published in October and November 2019 – signal changes to the established operating model. Group chief executive, Matthew Briggs, said: “Driven by
Tara Williams
regulation, digitisation and changing customer expectations, the motor retailing and F&I model is changing. As a business, AutoProtect Group is determined to be at the heart of supporting dealers through this dynamic period. “For us, this means a root-and-branch review and reinvention of our model,
creating fresh, innovative new ways to help our retailer customers to develop their approach in an assured, compliant and customer-centric manner. An example of such innovation is DealTrak’s platform enhancements, demanded by retailers, designed to boost digital compliance functionality and provide ‘single click F&I’ capabilities.”
>> John Pears, UK managing director, said: “We began our digital
transformation journey last year with the re-launch of our consumer website, and the roll-out of our award winning Robotic Process Automation, both of which have delivered positive results for customers already. We are now adding new digital channels to improve our business clients’ experiences.”
JBW Group has announced it has fully acquired the shares of Advantis Credit Limited, with funding provided by OUTSOURCING Inc. Advantis will continue to be managed separately to JBW and will retain its brand and management team, led by CEO, Mark Webb. This acquisition brings FCA regulated
debt and contingent collections capability to JBW, adding clients in central and local government, and extending its reach across the commercial sector Mr Webb said: “This is an exciting market
development with the combined business now offering a full range of debt collection and enforcement services to local and central government, and commercial clients. JBW and Advantis share a common vision for the industry and the future of debt collection that places intelligent customer service, performance delivery and high ethical and professional standards at its core.”
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Glasgow-based regulatory technology firm Encompass has received a £1.97m research and development grant from Scottish Enterprise to develop an AI platform for its financial-services clients. The funding is part of a project with a
total value of £4.9m, which will help with innovation as well as creating 33 new high- value regtech jobs in London.
First minister, Nicola Sturgeon said:
“Encompass is one of a number of international companies that have chosen to locate and steadily expand their operation making Scotland an attractive place to grow its business. From its Glasgow base, the company has access to markets, a supportive business environment and has been able to identify local talent from Scottish professionals in the engineering and software development sector. “Backed by almost £2m of R&D
investment from Scottish Enterprise, Encompass will be able to develop artificial intelligence software tools that will assist companies in the financial sector reduce operational risks associated with meeting compliance and regulatory standards.”
More than 100,000 UK businesses have a corporate structure so complicated it would take over half a day for them to complete anti-fraud checks, according to Experian analysis. Businesses are required to perform Know
Your Customer (KYC) checks on their clients to ensure they are not involved in financial crime or fraud. Fraudsters can use complicated corporate structures to hide illegal activity such as money laundering.
Optimum Finance is incorporating technological solutions into its client approvals, onboarding process and financial reporting systems. Optimum Finance, which was established in 2017, has
reviewed the market to identify suppliers which can provide the latest data-driven technological solutions to improve client experience. Following a competitive selection process Validis and AccountScore were chosen by Optimum Finance as part of its ongoing investment strategy in fintech solutions. Richard Pepler, chief executive of Optimum Finance, said: “We are committed
Richard Pepler
to investing in technology which improves the way the industry operates, which is still very paper-based. As a fintech-first business we know the market will benefit from increased digitisation of previously manual operations. “This automation of our onboarding process will also be extended in the
near future to the monthly processes of invoice submission and cash received reports which customers need to be able to ensure robust financial health and to access agreed funding to ensure a healthy cash flow position. “Our vision is to use cutting-edge technology to drive the industry forward;
this means we can focus our time on developing our customer relationships and on providing value-added advisory services which is where we are unique in the invoice finance market.”
www.CCRMagazine.com February 2020
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