Asset finance companies are increasingly seeking funders that offer advanced online platforms, enabling swift and efficient processing of ‘blocks’ — bundles of one or more financing deals. Such platforms are becoming essential for SMEs needing quick access to funding for equipment an
Catfoss Finance Ltd, a UK-based asset finance provider established in 1999, is one company benefiting from this trend. With a portfolio exceeding £70 million, Catfoss specialises in financing a broad spectrum of assets, including light and heavy commercial vehicles, plant machinery, and agricultural equipment, for diverse SME clients.
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Matt Tate, Managing Director of Catfoss Finance, highlights the significance of block discounting in supporting the company’s growth. “Block discounting means that we can expand our business without being constrained by our own capital funds,” he explains.
Previously, Catfoss relied on multiple funders, each with varying systems and response times. Many were email-based, with no online capabilities, causing delays that conflicted with the company’s need for rapid access to funds. This changed with the introduction of Siemens Financial Services’ (SFS) block discounting portal.
“We’ve worked with Siemens Financial Services for many years,” says Tate. “Their block discounting portal has been a game-changer. Instead of manually splitting paperwork over several emails, we now drag and drop files into the system, streamlining the process and enabling quick payouts. It’s fast, efficient, and has greatly enhanced our back-office operations.”
The portal’s speed and usability have made SFS a preferred partner for Catfoss. While many funders have yet to invest in such systems, SFS’s commitment to developing a robust online platform stands out.
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By GlobalData“Developing a block portal requires significant investment, and not all funders make that commitment,” Tate observes. “Only two or three funders currently offer online facilities for block submissions. While we aim to spread blocks among our founders, ease of processing inevitably influences our decisions.”
For Catfoss, the SFS portal is more than a technological upgrade — it’s a driver of business growth. “The system allows us to focus on expanding our services and better serving our clients,” Tate adds. “It’s an excellent tool that aligns with our goals for sustainable growth.”
