Collaboration between Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions UK delivers game-changing efficiencies to proposal process.
London, January 19th, 2021 – Providing ‘finance auto-acceptances while you work’ was the simple, specific efficiency gain that has been delivered successfully by Sopra Banking Software, leading partner of over 1,500 financial institutions across the world, for our well-established broker partner, Rural Finance, in conjunction with BNP Paribas Leasing Solutions UK.
The solution developed is an API interface between Sopra Financing Platform’s Sprint broker platform used by Rural Finance and the existing BNP Paribas Leasing Solutions’ technology, also designed by Sopra Banking Software. Marrying the two required a number of technical and organisation firsts; the result was precisely as specified. Today, not only can Rural Finance provide auto-approvals; they, their customers and BNP Paribas have benefitted from the removal of significant levels of re-work that was part of the previous proposal process. The result is greater efficiency between lender, broker and end-customer and as Rural Finance Director, Rex Tattersall reflects, more time to provide customers with a tailored, personal service.
Tattersall comments
“As the largest specialist agricultural finance brokering network across the UK, our success relies upon personal service. We aim to be easy to work with, combining empathy with the distinctive requirements of our customers in the rural community, with speed and an understanding of their financial needs. Agriculture is a fast-moving industry, and the capacity to match our financing approach to this and at the same time make accessing finance quicker and easier is a positive outcome for everyone.”
The new API digitizes the entire finance proposal journey. Manual processes, often required due to the nature of agricultural financing, have been eradicated. The result is higher quality proposals with lower amount of input errors, improved turnaround time of decision and higher acceptance levels. It has been a winning scenario for all parties, buying time for everyone to focus on business development.
Tim Pulleyn, Head of Partner Sales at BNP Paribas Leasing Solutions, states
“We are delighted to have partnered with Sopra Banking Software and successfully delivered this solution for Rural Finance. This project is a great example of the importance we place on listening and responding to the business needs of our partners to help support them in achieving their commercial objectives – performance through partnership. The speed and efficiency delivered by the API interface benefits everyone in shortening the critical timeframe of proposal to credit decision and, crucially, enables our partner to provide an optimal service to the end customer. We look forward to rolling out the solution to our wider partner network.”
Hugh Mahony, Business Development Manager at Sopra Banking Software, notes
“As a business, we have an established reputation for our agility in delivering targeted software solutions for the financial service community based on our configurable and composable cloud-based platforms. This new API is a case in point, delivering innovation for a specialist marketplace that is elegantly simple. It is the type of challenge in which we specialise, and it has been a pleasure to help Rural Finance and BNP Paribas once again.”
To learn more about Sopra Financing Platform’s Sprint solution visit the Sprint product page.
About Rural Finance Ltd
Rural Finance Ltd is one of the largest agricultural, commercial and industrial finance brokerages operating throughout England, Scotland, Wales and Northern Ireland.
Rural Finance Ltd in the last year alone, placed over £200m in Hire Purchase, Leasing and Loan products. We are committed to building long term relationships with both customers and lenders. Since our inception in 2004, we have continued to deliver a specialist service which offers a wide range of tailor-made products and support that allows businesses to flourish.
Our success is driven by the experience, passion and innovation of our 40+ Appointed Representatives who have built the foundations for Rural Finance Ltd to become an award winning and trusted face within the industry.
For more information about Rural Finance Ltd please visit www.rural-finance.co.uk
About BNP Paribas Leasing Solutions
As part of the BNP Paribas Group, BNP Paribas Leasing Solutions, the European leader in asset finance, specialises in leasing and rental solutions for professional equipment, offered either directly to businesses or through its partners and their distribution channels. At the heart of the usage economy, we provide businesses with the flexibility they need to remain competitive and grow in a sustainable way.
BNP Paribas Leasing Solutions UK offers an innovative suite of products designed through years of experience, enabling us to provide leasing expertise, solutions and support across a number of different markets. As a trusted funder with a strong pedigree and a passion for building lasting and mutual relationships, we work to help partners increase their competitive edge.
For more information about BNP Paribas Leasing Solutions, please visit www.leasingsolutions.bnpparibas.co.uk
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 €4.3 billion in 2020. For more information, follow us on LinkedIn, Twitter & Instagram or visit www.soprabanking.com
Issued by Rocket Associates on behalf of Sopra Banking Software
All media enquiries to:
Graham Filmer, Tel: +44 (0) 7760 171190, [email protected]
Sopra Banking Software Press Contact:
Natalie Sweet, +44 (0)7966 343907, [email protected]
BNP Paribas Leasing Solutions Contact:
Tim Pulleyn, +44 (0)7469 403848, [email protected]
Rural Finance Ltd Contact:
Jamie Russell, +44 (0)1978 660360, [email protected]