All articles by Jared Fortune
Jared Fortune
Investec Bank acquires Alliance Equipment Finance
The Australian arm of Investec Bank has increased the size of its asset finance business with the acquisition of vendor finance specialist Alliance Equipment Finance (AEF) The deal was designed to complement Investecs operations in asset finance in South Africa and the UK, according to David Clarke, chief executive of Investec Australia.With its 12,000 strong customer base, AEF has been providing vendor finance to both corporate and SME customers since 1992.Matthew Ingram, Investec Australias head of asset finance, said the state of the Australian market had given the business cause for optimism
Field Solutions acquires Tritech Computer Services
Asset finance software firm Field Solutions has expanded its presence in the UK independent and broker markets by acquiring software provider Tritech Computer Services Through the acquisition, Field Solutions will roll out its Finlex origination and contract administration suite to Tritechs customer base in the leasing, hire purchase and broker markets where the company provides evaluation and portfolio management facilities. Graham Douglass, managing director of Tritech claimed that with Finlex, Tritech can offer a route to a more modern technology platform while providing an upgrade path in Finlexs origination, pricing, proposal and contract management capabilities.
New business up 19% at Grenke Leasing
Grenke Leasing has announced a new business volume of 490m for the first half of 2012, 19.4% greater than 2011s corresponding first-half volume of 409m. Grenkes contribution margin, an accounting concept which allows the company to determine profitability, saw a 17.3% change between the first half of 2012 and the same period in 2011
IDS aims for Australian compliance
Software and product provider International Decision Systems (IDS) has released a new product for the Australian market, aimed at helping customers abide by recent changes to the countrys legislative regime. According to IDS, the Goods and Services Tax (GST) Hire Purchase system has been launched in response to GST reform legislation, which specifies that all Hire Purchase deals written on or after July 1, 2012 are taxable and require a GST to be calculated on repayment interest