In the dynamic world of automotive finance, SaaS, and omnichannel retailing, Paul Bennett, Senior Partner at Madox Square LLP (MSQ), combines practical insight with extensive industry experience.

Since its inception in 2014, MSQ has established itself as a boutique advisory and business development firm, working with specialist technology partners to support a diverse range of clients across the UK, Europe, and beyond.

Drawing on a strong understanding of global automotive markets, Paul offers clear and grounded strategies to help businesses adapt to an industry in constant evolution.

Following the 10th Motor Finance Europe Conference 2024 in Frankfurt this October, I caught up with Paul to discuss his professional journey, his approach to industry challenges, and his outlook on key trends shaping the sector.


Q: Can you describe a typical morning?

Paul Bennett: My mornings start early, usually around 5:30 am – I really am a morning person. An early start combined with a good dollop of routine and structure helps me to set a constructive tone for the day. I arm myself with a strong cup of tea, a couple of Rich Tea biscuits and get to it. My first task is to check my LinkedIn messages and emails, prioritising responses using a colour-coded flag system.

Being somewhat of a news junkie, I scan-read two national broadsheets (digitally, of course). At 6:00 am while finishing the papers, I tune in to Radio 4’s Today programme. By 7:00 am, I’m on my rowing machine for a 5-mile or 34-minute journey to nowhere. But seriously, it’s good to get the blood pumping, the heart rate up and of course, when I’m able, beat the clock. My personal best is 33:28 – quite how I managed that remains a mystery and one I’m yet to repeat! At 8am I’m ready for the day ahead.

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Q: What are some of the core responsibilities you handle on a daily basis?

PB: As Senior Partner, my role is multi-faceted. I travel throughout Europe and currently that means one week in five is out of the UK. On any given day, I might be diving into competitive market analysis, negotiating a contract or involved in high-level strategy development, or go to market planning with our automotive clients, either face-to-face or online.

A significant part of my responsibility is ensuring our work aligns with a client’s key business strategy and goals. I help them to evaluate new and existing projects and build their market penetration to achieve sustainable growth: in a perfect world, to reach all their commercial objectives. In addition, much of my day involves collaborating with our vendor SaaS partners in the UK and across Europe.

Alongside continuous business development to create new connections, keeping in touch with colleagues, together with attending several industry conferences and seminars, either as a delegate or speaker, keeps our visibility high and reinforces existing relationships. Engaging with new companies, new ideas and new colleagues is core to our work at MSQ, it strengthens our portfolio and, in turn, enhances the services and value we can provide to our clients.

Q: How do you approach client engagement and project management at Madox Square?

Paul Bennett: Client engagement is always about building and nurturing strong relationships, MSQ delivers clarity via transparency. As I have said time and again, ‘honesty is the currency of my trade. ’That being said, it takes time to build a meaningful relationship but, when it is built, a bond of trust is formed, and trust is the very best foundation on which to build.

Moreover, it’s essential to understand the unique challenges and objectives of each individual client. Our approach is highly collaborative, employing a real hands-on method ‘we think like the customer.’ Importantly we welcome frequent communication and feedback.

In short, a tried and tested approach that delivers. I always prioritise understanding the client’s vision and translating that into actionable strategies. With project management, we maintain flexibility to adapt swiftly to new requirements, ensuring agility and accuracy in our deliverables at all times.

PB: The 2020s are, without doubt, the most exciting of times to be involved in this industry. It’s exhilarating to see how the shift to new energy vehicles, EVs, is transforming market dynamics. In the short term, there are many challenges to overcome. Let’s face it, the shift from 120 years of petrol/diesel to electric was never going to be easy.

Consumers are understandably uncertain about the technology, and OEMs and financiers have shouldered and continue to shoulder considerable financial pain driven by little or no stability in EV residual values, together with the crippling cost of them trying to reach the 22% ZEV mandate. With recent announcements from HM Government, I hope that some fiscal relief is insight.

Omnichannel retailing continues to develop at pace, enabling the ability to integrate multiple channels and provide vastly improved customer experiences. Ever-increasing regulatory oversight and scrutiny are unfolding as I speak, and especially prevalent in the UK with the Court of Appeal ruling in respect of full disclosure of commissions and Discretionary Commission Arrangements (DCAs) waiting in the wings.

Are motor finance brokers and lenders now providers of financial advice?

This, plus the impact that Fiduciary Duty will have on car dealers, is a seismic shift in operations for the industry. Last but very much not least, advancements in SaaS for automotive retail are opening up new possibilities for efficiency and customer engagement. In no particular order, some more trends I’m excited about and follow with a keen eye are:

  1. Leasing and flexible usership: financial institutions are developing more personalised financing options that cater to individual customer needs, offering flexibility in terms and payment options. There’s a notable shift from outright car ownership to leasing and flexible usership services. These models offer greater customer freedom allowing consumers to switch vehicles more frequently and reducing long-term commitment.
  2. Focus on sustainability and green financing: many financial institutions are offering special rates or terms for vehicles that are more environmentally friendly, incentivising consumers to choose greener options.
  3. Impact of economic factors: interest rates, inflation, and economic stability can affect consumer spending power. In turn, this influences how consumers finance vehicle purchases with more cautious spending behaviour impacting the types of financing they choose.

Q: Can you share a key project that you are particularly proud of?

PB: Certainly. We are currently assisting several major automotive financiers, both captive and non-captive, in redefining their customer loyalty strategy. By integrating a new platform and refining their customer outreach, we demonstrate how they can increase retention rates exponentially when compared to their current practices. These ongoing projects underscore the importance of a customer-centric approach and clearly signal how, when integrated with disparate systems and data sources correctly deployed, technology can facilitate deeper customer relationships, ultimately boosting profitability.

Q: How do you envision the future of Madox Square over the next five years?

PB: I am a glass-half-full person, as such I am cautiously confident about the future. I see MSQ building out our UK and EU footprint and expanding via partnerships into dynamic underserved markets further afield. For example, Latin America is one of our key focal points for expansion.

Q: Aside from the automotive industry, what else interests you?

PB: I especially enjoy European political and military history of the 19th and 20th centuries. I have a deep affection for antique silver which I love to collect, albeit modestly. As much as the object itself, what I also enjoy is the exploration of the social contexts in which these objects were made: time, place and people all add layers to my historical interests.

I am a keen collector of antique maps and books on cartography which segues into another area of interest, architecture. I’m currently exploring the City of London, learning about its architecture, in particular the parish churches as designed by Sir Christopher Wren and Nicholas Hawksmoor after the Great Fire of 1666. Today, after the expansion of the City in Victorian times and of course the devastation caused by the Blitz during WW2, approximately 55 churches are still standing compared to 120 prior to 1666.


Paul Bennett’s expertise keeps Madox Square LLP on course in the ever-shifting automotive landscape. Offering a blend of strategy, collaboration, and a sharp eye for emerging trends, he’s looking to ensure his clients are well-positioned for the future. And if his rowing machine times are anything to go by, he’ll likely cross the finish line ahead of the competition — Rich Tea biscuits in hand.

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