Inventory finance software for the mainstream and now for the unusual – Sopra Banking Software’s flexibility, affordability and speed of deployment solutions, delivers for both
Corporate Asset Solutions specialize in providing finance for ‘business-critical assets’. The business, which works with a network of intermediary partners, is prepared to consider mainstream and alternative lending opportunities that other lenders may not consider. It is a bold philosophy that meant creating unusual opportunities; one of these was a supply of inventory funding lines for assets that might be challenging for other lenders. The business needed a robust, flexible and quick-start commercial lending solution to realize the opportunity.
In seeking a solution, Corporate Asset Solutions started a dialogue with Sopra Banking Software to assess the business’s Sopra Financing Platform (SFP) and its viability and capability to deliver against their unique proposition to the market.
Eight weeks after initial discussions, Corporate Asset Solutions went live with SFP’s Wholesale solution. The first customer to utilize their new lending capability was a business specializing in refurbishing and selling used taxis. It is a perfect example of the specialized lending opportunity other finance businesses may overlook, but as Zac Cogoan, Managing Director from Corporate Asset Solutions notes, without SFP, it is an opportunity that they too could not have entertained.
“As a business, we are proud of our agile and imaginative approach to providing business finance. We have a growing reputation as a specialist lender that combines people who listen to customers and their needs, and class-leading technology that can facilitate acceptances wherever possible. Recognizing that unusual inventory funding opportunities exist, we knew there was a niche opportunity we could meet. We needed an easily configurable, flexible and affordable platform to manage the assets involved. Sopra Banking Software delivered everything we were looking for and quickly.”
SFP’s Wholesale component is a scalable SaaS-based dealer commercial lending solution that benefits from Sopra Banking Software’s global expertise in automotive and equipment lending built over the last 40 years. Deployed as a true SaaS-based platform, it meets the needs of a broad range of lenders of all sizes. As Ravi Naicker, Global Commercial Director at Sopra Banking Software reflects, the challenge set by Corporate Asset Solutions is a perfect case study of SFP’s accessibility to lenders of all scale, as he concludes;
“As soon as we heard the brief, we knew we could help. SFP and our dealer commercial lending component ‘Wholesale’ is highly configurable, and to be honest, we welcomed the challenge that we were set. I’m delighted that Corporate Asset Solutions were able to launch their niche market offer with our platform helping them to achieve their business aspirations fast! I hope this provides confidence to other ambitious lenders that SFP offers a highly accessible, agile solution whose capabilities are not just limited to financing mainstream automotive vehicles.”
About Sopra Banking Software
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide.
The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.
Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development. With more than 46,000 employees, the Sopra Steria Group generated a turnover of €4.43 billion in 2019.
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