Catfoss Finance has integrated Siemens Financial Services’ (SFS) online block discounting platform into its operations, enabling access to funds and processing of financing deals.
The move comes as asset finance firms increasingly turn to digital platforms to improve transaction speed and service levels. Block discounting — a funding method that allows lenders to refinance multiple deals at once — has traditionally relied on manual processes, often involving multiple emails and slow response times.
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By adopting the SFS platform, Catfoss Finance can upload and process funding blocks for faster payouts.
“We’ve worked with Siemens Financial Services for many years, and their new block discounting portal is a significant improvement,” said Matt Tate, Managing Director at Catfoss Finance. “Instead of manually sending files in multiple emails, we can now drag and drop them into the system, and the payout is very quick.”
Founded in 1999, Catfoss Finance provides asset finance for SMEs across the UK, with a lending portfolio exceeding £70 million. The company funds a range of corporate assets, including commercial vehicles, trailers, plant and machinery, and industrial equipment.
Tate noted that while some funders still rely on manual processes, digital platforms are becoming a competitive advantage. “Only two or three funders offer an online facility for submitting blocks. While we work with multiple partners, ease of processing inevitably affects where we place each block.”
