JobRad Leasing GmbH was seeking a strategic and sustainable refinancing tool to support the planned long-term growth of their leasing business. By leveraging BearingPoint’s Securitization as a Service solution, the German company benefits from enhanced data management and reporting capabilities, resulting in increased efficiency, quality assurance, and regulatory compliance.
As society increasingly values sustainability, bicycle mobility is becoming a popular choice for commuting. In order to promote such ecofriendly transport, JobRad Leasing offers bicycle and e-bike leasing to companies in the public and private sectors. Employees can save up to 40 percent by conveniently leasing their preferred bike through their employer, with monthly payments deducted from their salary and tax incentives. JobRad Leasing serves around 1.5 million end-customers through a network of over 6,500 partner bike shops across Germany. To maintain an uninterrupted cash flow for its leasing offer, the company therefore opted for asset-based refinancing.
Securitization is key to this type of liquidity management, as it involves pooling financial assets such as loans, leases, or trade receivables and transforming them into a new financial investment product, known as asset-backed commercial paper (ABCP). However, creating a portfolio of eligible assets for ABCP involves managing extensive data from various sources, meeting reporting requirements, and adhering to eligibility criteria. As a result, for its first securitization transaction, the company sought to automate and efficiently develop the asset portfolio while maintaining the feasibility and high level of digitization that characterizes the entire JobRad Group.
Leveraging its Securitization as a Service solution, BearingPoint assisted JobRad Leasing in its first securitization transaction. The joint team conducted an interface workshop to identify the data requirements needed to meet market transparency standards. This laid the foundation for comprehensive documentation to pinpoint and evaluate the financial assets to be securitized. In the next step, relevant business logic was defined. Thereafter, BearingPoint configured the technical platform to incorporate JobRad Leasing’s data, business events, and the required types of reporting formats. During the development and testing phase, BearingPoint focused on aligning the reporting capabilities, while ensuring the accuracy and completeness of the data.
Detailed templates were then created for both the functionality and design of all corporate reports related to funding operations, ensuring that compliance standards were met, including reporting, documentation, and disclosure requirements. The project team integrated the securitization platform with the client’s existing systems and workflows to enable a smooth transition and maximize operational efficiency. On an ongoing basis, BearingPoint will provide monthly reports throughout the transaction, using data from JobRad Leasing via the new interface to enable optimal and timely execution of the securitization transaction.
By using BearingPoint’s Securitization as a Service solution, JobRad Leasing has enhanced its data management capabilities and can handle effectively the complexities of its first securitization transaction. The highly automated processes have led to substantial improvements in time and resource efficiency. Additionally, the company now benefits from fast access to necessary reports and has shortened the report delivery times.
Moreover, the scalable operations and secure data enable JobRad Leasing to enhance its liquidity and effectively manage risk. With full visibility into its leasing transaction at all times, the company is able to address compliance and extensive investor transparency requirements, while also meeting the reporting standards set by the European Securities and Markets Authority (ESMA).
JobRad Leasing GmbH, part of the JobRad Group since 2019, is a bank-independent leasing company based in Freiburg. Operating in Germany and Austria, JobRad Leasing specializes in leasing bicycles and e-bikes. The company is known for its high degree of digitalization and continuously develops its fully digital-leasing services.
