IDS Acquires White Clarke Group for New Working Capital Solutions
(12 April 2021 – United Kingdom) IDS, a US-headquartered leading technology vendor in secured finance, has acquired White Clarke Group, a United Kingdom (UK) head-quartered major provider of asset finance solutions for the automotive and equipment finance markets.
Together both companies will combine their expertise to create a multi-asset class secured finance technology solution for banks with the deal due to be complete by the end of Q2 2021. This will include an end-to-end platform for loan origination and portfolio management, as well as flexible working capital finance offerings with real time credit monitoring and availability.
Over 300 clients across North America, Europe and Asia Pacific are expected to benefit from this new development.
“Consumers and businesses want utility and outcomes, not ownership. This has created an opportunity for financing firms to tap into emerging technologies including digital and Artificial Intelligence(AI) to create new business models like subscription and car sharing” commented White Clarke Group CEO, Brendan Gleeson
“As these trends accelerate, these firms will need the support of a global technology vendor that can deliver innovation at scale. Combining our companies provides the ability to innovate at the pace of change while delivering exceptional value to our combined customer base” he also added.