The financial services and loan management industry is a challenging one, and having the right software systems to manage a number of different loan products along with reporting tools to provide management control is essential.
Western Cape-based finance house Combined Finance Holdings selected Astraia Technology when it needed assistance in implementing a new loan management system. A selection was made of the Loan Information and Management System (LIMS) from FBA Software to manage the company's product offering and loan book.
Having experienced rapid growth in the recent past, Combined Finance Holdings needed to up its game in terms of systems infrastructure and settled for LIMS in an off-site hosted environment. "LIMS ticked all the boxes in terms of functionality, was uniquely able to handle the complex rate structures and to accommodate our diverse product offerings that are essential to our operations," said Renier Kriek, Managing Director of Combined Finance.
He continued: "Astraia technology was able to quickly grasp the business issues and complex calculation methods, and to adapt LIMS in accordance with our unique product requirements, resulting in a 100% fit and making LIMS and Astraia Technology an easy choice for our loan management requirements. The implementation itself was well managed and completed within budget, both in terms of time and cost."
"Combined Finance had to find an application that could cope with their complexities, and having a diversity of products brought with it another set of challenges entirely," explained David Bryant, CEO of Astraia Technology. "LIMS from FBA Software was the answer to meeting the needs at Combined Finance Holdings and it was something Astraia had a good understanding of. The ability to adapt to the different interest methodologies, comprehensive reporting, flexible statements, web-based deployment as well as competitive pricing are reasons why the LIMS solution is a very attractive option in the loan finance industry."
With passionate partners such as Astraia Technology, and a flexible product in LIMS, Combined Finance Holdings is looking forward to improving the accuracy and reducing the costs of its loan management now and into the future.
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