Telford-based Capital Invoice Finance ends the year with record performance


Telford-based lender Hitachi Capital Invoice Finance (HCIF) reported strong growth, despite significant disruption in the lending landscape in fiscal 20/21.

Andy Dodd MD Hitachi Capital Invoice Finance

The company achieved record new business volumes in the fourth quarter after identifying new revenue streams that generated strong lead generation and conversion opportunities.

Over the past 12 months, overall annual fee income is 2% higher than the previous year amid a distorted invoice finance market environment, with funding measures introduced by the UK government to support SMEs .

Despite difficult market conditions, HCIF accelerated its diversification strategy by providing lines of finance in excess of £ 1million for large corporate clients, resulting in a 108% increase in new business in this segment. Due to the targeting of large SMEs, the average annual HCIF minimum commission income in FY20/21 increased by 35%.

New targets for the lender, which provides treasury solutions to clients across a wide range of industries, now include companies with revenues of up to £ 50million.

In addition to diversifying its customer base, HCIF acquired new leads from competitors processed using FLi, its market-leading digital integration platform. The digital capacity of the HCIF during the pandemic allowed a large number of applicants to be treated effectively in a short period of time during the pandemic, providing a competitive advantage for the company.

In recognition of Hitachi Capital Invoice Finance’s reputation for providing exemplary customer service, the company achieved industry recognition in FY20/21, named “Best Service from a Funding Provider of invoices ”at the Business Moneyfacts Awards 2021.

Andy Dodd, Managing Director of Hitachi Capital Invoice Finance, said:

HCIF’s market-leading digital integration capability has given the company a significant advantage as we accelerate our diversification strategy. In response to declining demand for loans through our existing channels, we provided financing to large corporate clients where demand during the pandemic remained strong.

“The investment in our online marketing and search engine optimization channel has resulted in a 50% increase in new online business year over year and a significant improvement in our search engine rankings. research, thus improving the visibility of our brand.

“As a well-funded supplier with digital capability and a proven track record in the treasury finance market, the company is poised to grow as SME confidence improves in 2021/22, capitalizing on on strong lead generation and conversion opportunities identified in the past. 12 months.”

At Group level, Hitachi Capital (UK) PLC reported pre-tax profit of £ 104 million for fiscal year 2020/21.

Despite a nearly 10% drop in GDP, Hitachi Capital (UK) PLC generated £ 3.3 billion in new business, with a strong recovery in the second half of the year maintaining the level of net assets of Hitachi Capital UK at £ 5.9 billion.

New business volume in the first six months of fiscal 2020/21 fell to 69% from 2019/20 levels and in the second half of the year new business volume stood at 99.7% of the previous year, despite two other blockages.

Robert Gordon, CEO of Hitachi Capital (UK) PLC, said: “The extraordinary resilience, determination and agility of everyone in our business to quickly adapt to the environment has produced exceptional results in an extremely difficult.

“Our continued success and recovery, particularly in the second half of the year, has been achieved by adapting to pandemic conditions, accelerating our digital capabilities as customer expectations change, and consistently providing exceptional service. to businesses and individuals through the range of financial services. products we offer.

“Supported by our continued access to funding in the financial markets reflecting our reputation and the quality of our portfolio, the company has remained well capitalized throughout the pandemic and has gained market share, outperforming its competitors in key industries. Of the industry.

“In a context of heightened uncertainty, we continued to invest in our company and our people; Over the past year, we have implemented technology improvements to increase operational efficiency and provide funds to support sustainable energy projects aimed at tackling climate change. The company has seen a significant increase in the demand for communication and support from our customers over the past 12 months. In turn, we increased our staff and did not participate in leave programs during the COVID-19 crisis.

“We have seen continued momentum in new business volumes in the first quarter of 2021/22, aligned with a recovery in consumer confidence and pent-up demand. Hitachi Capital (UK) PLC is well diversified in the commercial and consumer sectors with an expanding portfolio to combat climate change. With a high level of liquidity, our business is well positioned to grow this fiscal year as the economy accelerates in the months to come. “


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