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September 16, 2022

Last day to get your nominations in! Motor Finance Europe Awards 2022

By Alejandro Gonzalez

This year’s Motor Finance Europe Awards 2022 – to be held at the Ritz-Carlton in Berlin on October 20, will close next week so time to put forward your nominations.

The deadline for entries is 5pm GMT on 16th September 2022.

How to submit your nominations:

1. Download and complete the Entry Form.

2. Please send the completed Entry Form to hera.hussain@arena-international.com by the deadline.

A copy of the Awards Information Pack with submission rules can be found here.

Award Categories

Captive Finance Company of the Year

This award is open to nominations for the captive finance houses of any consumer vehicle producer. These finance companies have become increasingly important to the manufacturers in keeping up overall car sale volumes. This in turn has driven greater levels of finance penetration and more innovation from the finance houses. For this award, judges will take into account:

• The performance of the finance company in terms of finance penetration within the brands, and contribution to group profits/revenue

• Evidence the finance company has helped sales of the mother company grow, despite a tough economic climate

• Development of the business, e.g. new financial products and growth in volumes in 2022 compared to 2021.

Independent Finance Provider of the Year

This award is for a bank-owned independent lender who is best able to demonstrate a proven track record of working well with intermediaries and success in improving business volumes. Judges will specifically be looking for:

• What makes the lender stand out from the competition

• Development of the business, e.g. new financial products and growth in volumes in 2022 compared to 2021.

• Demonstrable relationship success with intermediaries, such as supporting dealer activity or helping with regulatory changes

Sub-Prime Lender of the Year

This award looks to acknowledge those who have provided finance to customers with less than stellar credit histories. Lending in this important niche usually involves higher rates but higher risks, and this award is looking to see who has best adapted their business to cope with the challenges and made a success of the challenges. Specifically, judges will look at:

• Demonstrate a thorough approach to affordability and credit checking, without overly affecting response times

• How customers whose circumstances have changed and are in need of further assistance are taken care of

• Products specifically designed to be appropriate to sub-prime customers.

Intermediary of the Year

Be it a broker or a dealer, intermediaries are the lifeblood of the industry and are vital for introducing new business to all finance companies. While sizes vary from small operations to huge franchised networks, success always involves a unique mix of relationship management, technology and processes, and recent regulatory changes have only made things harder. For this award judges will be looking at:

• Proposal acceptance rates

• Investment in staff and processes

• Demonstrable ability to add value to lending partners’ sales operations

• Relationships with lessors

Advisory Firm of the Year

This award is for a consultancy advisory firm that has stood out amongst its peers in taking a unique approach to the business, offering specific insight on the industry and pioneered motor finance as a key market in the past year.

Legal Provider of the Year

This award will recognise a legal services provider of any size that is deemed to transact a significant proportion of its business in the motor finance industry. Judges take into account:

• Team expertise in law relating to motor finance

• Visibility and influence in the marketplace

• Versatility, both in terms of types of work undertaken (litigation, transactional etc)

• Volume and complexity of work undertaken

• Notable successes on behalf of clients

Digital Innovation of the Year

This award is designed to recognise a specific digital innovation from a fleet services provider in the past 12 months. We’re looking for entries to demonstrate how this innovation does something new in the fleet market. Specifically, judges will consider:

• Entrants must make clear what the specific digital innovation of the past 12 months is.

• An explanation and evidence of how the innovation improves the customer experience or improves the environmental impact of fleets.

• How does this innovation improve the lives of fleet managers, drivers or both?

Best Finance Product of the Year

This award is for the finance product from a lender or broker which strikes the best balance between offering customers a good deal and ensuring a sustainable business for the company in question. The product in question should benefit the customer as well as the company. Specifically, judges will be looking at:

• The specifics of how the product works, and what makes this different from what else is out there?

• Why a customer would choose this product over an alternative, and how they benefit from it.

• Evidence of customer satisfaction being balanced with a need for sustainable business practises.

Best Pandemic Response Initiative

This award recognises a specific initiative that was launched in response to the Covid-19 pandemic, supporting clients or customers during what has been an extremely tough period for the industry. We’re looking for the most innovative or most effective solution to support those who needed it. The judges will look out for:

• The speed and effectiveness with which the initiative was rolled out.

• What issues did the initiative serve to solve, and how easy was it to use.

• Evidence of its success with clients/customers.

Best Mobility Solution

This award recognises the changing nature of mobility and those who have led the market in enabling the next generation of mobility solutions. Judges will take into account:

• Solutions that take into account changing consumer behaviour and meet their new needs

• What makes this product different to what has gone before?

Best ‘ESG/Sustainability’ Initiative of the Year

ESG, sustainability, green energy and the environment are the order of the day as the UK government recently unveiled a series of targets to reduce emissions across the country – with the automotive industry presented with a ban on new petrol and diesel vehicles by 2030. This award will recognise a leader in the industry, driving the adoption of ESG best practices, EVs and greener AFVs or promoting better environmental practices. Judges will take into account:

• An initiative designed to help consumers reduce their personal emissions.

• Evidence of uptake and success of the programme.

The following awards are presented to individuals and as such these will be awarded by the judging panel without prior nomination.

Industry Ambassador of the Year

This award will go to an individual who has helped to develop and enhance the reputation or the economic role of the motor finance industry over the past 12 months.

Lifetime Achievement Award

This award will go to an individual who has helped to build and shape the motor finance industry over the course of their career. They will have taken strategic leadership roles within a company or companies and steered them to greater success, mentored colleagues through challenges and be a top influencer in the industry. Lifetime Achievement is, above all else, a recognition of a career which has shown experience, talent and commitment to motor finance.

Rising Star Award

Motor finance is famously an industry of experienced heads who know their industry like the back of their hands. This can make standing out a difficult task for newer members of the industry, and this award looks to help highlight the work of someone under the age of 35. The winner does not need to have yet risen to a senior job, but will need to be someone who can evidence the positive impact they have had on the motor finance industry.

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