Over the last 18 months, the industry has experienced an unprecedented amount of change. Furniture retail, especially, has experienced a rollercoaster period, with supply chain disruptions coupled with a seismic shift in buying behaviour which has transformed the industry.
But it is not just the high street that is repositioning itself. Hitachi Capital Consumer Finance - one of the UK’s leading providers of retail PoS finance - has announced that it is embarking on a major rebrand, as it sets its sights on rapid expansion, accelerating investment in its retail systems.
The rebrand to Novuna Consumer Finance, which will be fully implemented by March 2022, follows the merger of the business’ parent company with Mitsubishi UFJ Lease and Finance Company earlier this year. This was a significant move for the business, and means it is now part of one of the world’s largest and most diversified financial groups.
Vincent Reboul, MD of Hitachi Capital Consumer Finance, explains the thinking behind the rebrand: “Novuna comes from the Latin words 'novo', meaning 'new', and 'una', meaning 'together', which captures the essence of our business and how we work with our retailers, creating innovative solutions together and supporting our customers through rapid change.
“It’s a bold, fresh brand that resonates with the changes we are seeing not just in retail, but in society as a whole, and reflects our digital transformation programme, which is enabling us to create unique customer experiences and deliver efficiencies across all sectors.”
With competition in retail intensifying, having the right PoS credit offering is a sensible move, says Vincent. Providing a fast, seamless integration, 24/7 retail offering, with improved credit decisioning functionality is what the business sees as its core strength, and will bring to life with the new brand.
The business is consistently harnessing new technologies which further enhance the frictionless journey customers expect. Integrated ID verification is transforming the online finance application process – the technology is capable of validating the authenticity of documents in real-time, which makes the identification process as quick and efficient as possible while reducing potential fraud.
The full rebrand will not take place until March 2022, with the products and services currently offered remaining the same, alongside the account management teams and contacts. But in the longer term, this is far more than a change of name, says Vincent: "It represents how the business has evolved, and its ambitions to accelerate growth."
