Risk management will be the most vital
challenge for lenders in 2012 in contrast to 2011’s “year of
compliance”, says research by asset finance software company
Linedata.
Linedata found the main trial for European
lenders and asset finance institutions in 2011 was ensuring
compliance with the new EU regulations (EU Directive on Consumer
Credit Loans, SEPA and Basel III). Another challenge identified
was, predictably, the ongoing financial crisis, which caused
cutbacks in spending and cost optimization.
Go deeper with GlobalData
The company, which provides a software
platform for 150 lenders and asset finance institutions in 32
countries, announced the findings in the results of its first
survey on priorities of the Lending & Asset Finance community,
which was distributed to the general business and IT management
functions of 60 institutions in Europe and North Africa.
Just over 40% of the lenders surveyed
predicted risk management would be a big issue in 2012 and 54%
expressed a wish to invest in back office systems. The survey also
revealed the industry is looking to invest 10% more in front office
tools in 2012 than in 2011.
Lenders and asset finance institutions will also focus on the
growth of their core business, according to the survey. 45.6% hope
to achieve this by increasing their range of financial products and
services and 28.1% by expanding their international presence.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
