K'e Concepts, leader in the deployment of comprehensive credit management solutions and development frameworks for the financial services sector, announced today that it had successfully won the right to replace Sasfin Bank`s incumbent asset-based finance (ABF) solution with its acclaimed CreditEase ABF solution.
The CreditEase solution framework creates a substantial competitive advantage for Sasfin`s ABF division. This is achieved by providing, among others, a simple yet powerful dealers and client portal aimed at minimising time to market in this critical business unit.
"We have selected K'e Concepts, with whom we have been consulting for several months now, to design, develop and implement a dynamic solution based on their CreditEase Framework. It needed to meet our requirements of an off the shelf solution that was sufficiently flexible to allow for future in-house enhancements. Obviously, compliance with the relevant legislation was also a key issue since the costs associated with `non-compliance` are punitive," Chantell Craven, Project Manager Equipment Finance, commented.
Having a Web-based portal means that any broker or sub-agent can, at any time, from anywhere in the world, capture prospective business and check his/her deal status (current and historical). Additionally, management can access online, up-to-date management information at any time.
The CreditEase solution framework satisfies and conforms to the new AC133 financial services requirements and will provide Sasfin with a leading edge in this critical area.
"The new system has some very powerful marketing tools with some impressive functionality, including remote deal application and pre-approved deal processing to a centralised database repository via multiple user interfaces, complex product offerings with tiered rates and a full integration with our accounting system," continued Craven. "There is no doubt that this functionality will create an improvement in both bottom line and turnover."
"We can also utilise our internal development skills using the guidelines of the CreditEase development framework to tailor the system`s functionality, a decision we saw as key if we were to effectively manage any on-going changes in the industry, maintenance and general support that we require," added Peter Oeschger, General Manager, IT, at Sasfin.
CreditEase provides Sasfin with a comprehensive credit management solution and development framework that addresses the business needs and challenges faced by this specialist financial services company. "We know that the system we have provided to Sasfin is unique in the local market and our solution is currently being appraised by several other financial institutions for this reason," commented Miles Hern, Managing Director of K'e Concepts.
CreditEase streamlines and automates the entire credit process. It encompasses the areas of contract formulation, risk management, debtor management, collections management, client call centre, document management and workflow within the retail banking, home loan, asset-based finance, equipment rental and micro-finance industries.
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