In 2013, Leaseurope established, in partnership with Invigors EMEA, a programme aiming to nurture and encourage bright industry young talent to become future leaders in the leasing and automotive rental industry. As a result of the interest and enthusiasm generated by this project among the younger lessors and their hierarchy, Leaseurope decided to make the project a permanent fixture in its annual calendar.
The Future Group 2015 was comprised of 16 young industry talents who were nominated by the heads of leasing companies all across Europe.
While retaining the theme of previous years and the overall philosophy and spirit of continued innovation, that characterises Leaseurope’s Future Group Programme, the Class of 2015 was tasked to come up with an innovative idea that would either harness or integrate the potential of a disruptive innovation into the leasing business. The Group presented their individual ideas in early spring 2015.
The top three projects were selected at the end of June, further enhanced and fine-tuned through group work with the other members of the Class 2015 over the summer, and later presented in front of the European leasing and automotive rental industry at Leaseurope’s Annual Convention in Cascais, Portugal last October by the three team leaders.
Residual Value Funding Platform
Born: London, UK
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In five years’ time Fordyce sees himself managing a risk team or a leasing firm, perhaps even at a country level.
Tom Fordyce presented a single online platform project whereby all parties are brought together in order to provide operating lease transactions for customers.
The project suggests a simple mechanism for deal making with residual value providers indicating their risk appetite through a platform. A lessor could then propose deals, within their own criteria, with the platform matching their deal with the most appropriate residual value provider. Fordyce is confident that this idea is marketable and would build on existing market practices.
Asked how he would describe his overall experience of the Future Group 2015, Fordyce said: "The experience has been really valuable to me. I was a bit nervous about presenting to a big crowd, but the opportunity to speak to a room of well-respected and experienced leasing professionals about an idea I had is one that we won’t get very often. I learned so much from it. Meeting my peers from across Europe was also an opportunity to gain an invaluable insight into other markets, cultures and ways of thinking that I think was genuinely beneficial"
Head of marketing & communications
BNP Paribas Leasing Solutions UK
Born: Preston, Lancashire, UK
In five years’ time Vorajee hopes to be running the SociaLease division for BNP Paribas Leasing Solutions, of course!
Suhale Vorajee proposed a new business model called SociaLease in an attempt to respond to the rise of the subscription and circular economies. The model introduces a more sustainable way of doing business, which could influence the supply chain by promoting viable, sustainable solutions, similar to what is envisaged for the circular economy.
In short, SociaLease is based on a framework that sets out to maximise the product lifecycle through better component design and by encouraging re-use and re-manufacture, thereby ensuring the optimisation of resources and minimising waste. He proposes an integrated approach – partnering with equipment manufacturers and second life retailers so they can resolve critical issues, like the end-to-end product lifecycle and the ultimate recycling of the asset. It is truly a cradle-to-cradle proposal.
Vorajee was asked whether his participation in the 2015 Future Group had an impact on his career development.
"Soon after the presentation at the Leaseurope Convention, I had the opportunity to present my SociaLease concept at our annual business conference. It was great to see so much interest expressed in SociaLease coming from this segment of our business at BNP Paribas. Taking part in the project was a great way to illustrate how innovative design can drive our industry and I had lots of interest from various tech vendors who have expressed an intention to deploy something along the lines of SociaLease within their own business models."
Executive assistant to the regional director
Born: Fritzlar, Germany
In five years’ time Wild sees herself in a position of responsibility in the area of mobility services, working on international projects and continuing to be involved with innovative design.
Stefanie Wild proposed a platform through which sustainable transport modes could be integrated into one optimised mobility solution. She believes this platform meets a market demand for a digital solution that offers sustainable and integrated mobility services. In short, the concept includes real-time information, simple booking, centralised invoicing and customised reporting.
The platform is foreseen as enabling users to plan their mobility having full consideration for sustainability criteria. Every time a travel request is submitted, the platform would display the carbon cost of that journey along with suggestions for more climate friendly alternatives, but controlled according some basic financial or time considerations.
Wild was asked what she had learned as a result of her participation in the initiative.
"What I learned from my participation in the Future Group Programme is to work with an entrepreneurial spirit and to think outside the box and consider disruptive innovation as an option rather than a danger. You get to appreciate the value and challenge of working in collaboration with team members from all over the world and different industries. I learned how to turn ideas into innovative design, to integrate different perspectives and, ultimately, to prepare a compelling pitch."
The career boost participants get out of the Future Group is now almost taken for granted and since the Future Group 2015 concluded, Wild is in the process of being promoted within her company in the field of operations and project management.