Immaculate Financial Solutions Group (IFS) signed a deal with Xpertek on 11 July 2008 to purchase a loan administration solution and launch its rental and micro-lending operation. The group plans to offer asset-leasing opportunities in the capital equipment market and small loans to homeowners and lower income groups.
Xpertek's solution is comprised of two products, Acquire and Reward. Acquire is a Web-based, end-to-end loan finance administration system and Reward is a comprehensive business process management toolkit.
While Acquire administers the processing of a loan from application right through to final repayment, Reward enforces the adoption of all standardised internal procedures and policies. A vital requirement for IFS was easy integration to Optical Character Recognition technology and this will be a first for Xpertek's solution. This will ensure a fully-automated credit application process with no manual capturing of deal information, thus eliminating human error and lowering operating costs.
IFS Group is committed to developing a culture of service excellence to its clients and the purchase of Xpertek's solution supports their commitment. Once implemented, Xpertek's solution will bring a number of benefits to the IFS operation including quick deal turnaround times for improved customer service and customer loyalty, a functionally rich, workflow-driven solution to increase user efficiency and productivity, and pro-active management of collections and arrears.
Ben Louw, CEO of IFS group, had this to say about their purchase: "I come from an IT background and over the last 20 years have worked extensively with various debtors systems at banks and micro-lending companies. I have evaluated a lot of different systems, but could not find one with the rich functionality and adaptability provided by Acquire and Reward from Xpertek. IFS will go live with the system at the beginning of October 2008.
"We are impressed with the professionalism of the project team of Xpertek and with the ease that they customised the system to cater for our unique requirements. Combined with our Teleform solution it provides us with a fully automated approval, loan management and collection system."
For further information about Xpertek's loan finance solution, kindly contact Barry Leonard, CEO of Xpertek on 011 519 3000 or log on at http://www.xpertek.co.za.
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