Approximately 100 industry leaders attended the awards in Munich. We received very strong nominations across all 10 categories, and would like to congratulate all of the finalists. The shortlists and winners were decided by a judging panel consisting of Tarun Mistry, partner at Grant Thornton UK, Ian Dewsnap, director of European operations at Benchmark Consulting and Frank Stenner, professor of automotive financial services at University of Applied Science Nuertingen-Geislingen.
The 2015 Motor Finance award winners are:
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Captive Finance Company of the Year
GM Financial
All of the nominees in this category were able to display evidence of fast growth and responsible lending. GM Financial was able to display this on the back of massive ownership upheavals (http://www.motorfinanceonline.com/news/general-motors-brings-international-funding-back-home/) that were only resolved in 2013. Despite these changes, the company was able to display strong growth over the past 12 months. As well as fast growth, GM developed a number of new products in 2014, for example CS Link, which allows customers to manage their account online.
Independent Finance Provider of the Year
ALPHERA Financial Services UK
As with the captive category, all of the nominations were able to display extremely strong levels of growth over the past year, and therefore the judges looked at what else the nominations were able to present. In Alphera’s case, the judges were impressed with how the company leveraged the benefits of its parent company – such as sending every Alphera manager through the BMW Group training programme – while not compromising its independent lender status. Judges were also impressed with the work done on regulation, including workshops for its partners and a new business model.
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By GlobalDataIntermediary of the Year
Zuto (previously known as Car Loan 4U)
While all of the nominees brought unique strengths and elements to their nominations, the judges found it impossible to ignore the sheer level of success Car Loan 4U has experienced over the past few years, with consecutive years of turnover more than doubling occurring on a consistent basis. While the company has grown rapidly, the judges were also impressed with the way it has trained its staff – particularly its attitude of hiring for attitude, and training for skill.
Sub-Prime Lender of the Year
Moneyway
2014 saw the lender increase both the amount it would be willing to lend, but also the range of customers it would lend to, as it expanded its exposure on the risk curve. The judges were impressed with how the company took the potentially complicated issue of the risk curve and put it into a simpler tier structure, allowing for rapid decision making on their part, while also giving the customer the best possible result. The company’s commitment to helping customers whose situation had changed was also well evidenced, and will likely set the company in good stead for the FCA, which is keen to ensure customers are treated fairly.
Legal Provider of the Year
Shoosmiths LLP
This was an incredibly close category, and each of the nominations presented a strong case for themselves. But in the end of judges went with Shoosmiths. We felt their nomination did the best job of showcasing the firm’s visibility and work in the industry. Its motor finance team has grown in 2015, with the addition of several new team members. Other wins of late include work with Jaguar Land Rover and work with Santander Consumer and Hyundai Capital.
IT services Provider of the Year
White Clarke Group
As the world becomes increasingly technology-focused,and as mobile technology becomesprevalent,, the role of IT services firms such as White Clark Group will only become more important. Judges felt that White Clark Group’s CALMS mobile platform was a truly innovative tool, which benefited both the company and the end user.
Best Finance Product
Northridge Finance
Northridge Finance’s joint venture product is a unique offering in the motor finance industry, which judges felt really benefits Northridge’s partners and the end user. The product offers to the joint venture partners low money costs and complete income transparency, while the low interest rates and product transparency have been advantageous for the end users.
Innovator of the Year
OTA Keys
There is a general mood that the model for driving cars may soon begin changing from one of ownership towards usage. If this is to happen, technical solutions to issues as basic as how to securely ensure the right person is able to access a car at the correct time will need to be overcome. The judges were impressed with the forward thinking nature of OTA, in ensuring this is dealt with before it even becomes a problem.
Rising Star Award
Stephanie Wood
Judges were extremely impressed with Wood’s nomination for the award. In just five 5 years, she went from an entry level advisor role to head of prime sales, looking after 60 people. These five years have also seen the broker grow rapidly, and as a result, Wood has been responsible for hiring and training dozens of new staff in the period. The past six 6 months have also seen her lead the integration of new lending options for customers in the company. The judges found this a refreshing example of someone entering a company and excelling, in an industry notoriously hard to find fresh blood in.
Industry Ambassador of the Year
Horst Berger
Berger’s powerful lobbying for the industry has earned him the industry ambassador of the year award. Since 1980, he has been shaping the captive scene among the German finance houses. Between 2006 to the end of last year he was heading the "Arbeitskreis der der Banken und Leasinggesellschaften der Automobilwirtschaft (AKA), an organisation which represents the auto-captives.
