Novuna Business Finance officially launches today, completing the rebrand from Hitachi Capital Business Finance which was announced towards the end of last year.
The launch of the Novuna brand, which means ‘new together’, coincides with the introduction of significant digital innovation providing instant funding decisions for brokers and vendors. This is spearheaded by the launch of a new Alfa operating system, the world’s leading asset finance software delivering operational efficiencies and transforming customer experiences.
Novuna Business Finance, the fifth largest asset finance provider in the UK with an asset portfolio of over £1.5bn, is also responding to evolving customer expectations with a wholesale upgrade of existing front end Mercury application system, providing a wealth of new features for users, including partial save, multiple asset line entry and full mobile optimisation. These features are linked to new auto underwriting and tolerance rules and will allow the business to make more informed and faster funding decisions.
Speaking following the Novuna launch, Geoff Maleham, managing director, Novuna Business Finance said: “The launch of our new brand is a significant milestone in the growth and development of our business. It has provided us with a unique opportunity to create a bolder, fresher image and paved the way to boost our support to SMEs as they emerge from almost two years of significant upheaval to their operations.
“Through the range of financial products we offer, we are committed to providing outstanding service and building on the relationships we have established with our network of introducers. Our enhanced digitally led application processes ensure better credit decisions for brokers and vendors whilst leveraging the funding capability of our new multi-national parent company.”
The backing of Mitsubishi HC Capital Inc. will allow Novuna to build on these strong foundations with the opportunity to leverage the size, scale and expertise of its new parent company in order to realise the company’s ambitions.
Each of the other business divisions will operate under Mitsubishi HC Capital UK PLC’s trading style, including Novuna Vehicle Solutions, Novuna Consumer Finance, and Novuna Business Cash Flow (previously Invoice Finance). The European division has adopted the Mitsubishi HC Capital trading style as part of its collaboration with the parent company, Mitsubishi HC Capital Inc.
