Redwood Third Party Processing launches on ACET

Redwood Third Party Processing has formed a strategic alliance with ACET Processing, the leading provider of outsourced financial services solutions to the African consumer finance industry.

Through the alliance with ACET, Redwood will offer consumer finance companies and retailers a suite of outsourced products and services related to prepaid, credit and private label cards, personal loans, asset finance and insurance. The products and customer accounts will be hosted on ACET's VisionPLUS platform, which covers the end-to-end customer life cycle from account creation through to collections.

Redwood specialises in consumer finance outsourcing for the South African, African and Middle Eastern markets, offering an end-to-end total credit solution through access to best-of-breed processing, credit risk management and operational platforms, infrastructure and services.

The alliance will offer a rich set of value-added services to consumer finance companies looking to manage risk, enhance cross-selling and drive revenue growth. The open architecture of ACET's platform enables interfaces to multiple delivery channels, ensuring that organisations can take full advantage of all sales and service opportunities. The outsourced operating model also helps companies control costs while accelerating their speed-to-market with a proven and repeatable implementation process.

Andrew Goodrich, Chief Executive Officer at Redwood, states: “The alliance has already borne fruit, with Redwood and ACET having launched our first mutual client in the consumer finance industry. All over the globe, organisations are grappling with cutting operational costs, accelerating time to market and having access to industry expertise, while still emphasising the need for continual innovation in the market. International best practice has proven that the best way to accomplish this is through the focus and core expertise of a third party solution service provider like Redwood.”

Mike Crawley, Chief Executive Officer at ACET Processing, states: “The flexibility and rich functionality of ACET's platform, combined with Redwood's domain expertise, will enable Redwood clients to quickly deliver new products and services in order to realise strategic goals now and in the future. ACET provides one of the most robust and complete payment solutions in the marketplace today, which will enable Redwood clients to get even closer to their customers."