Xpertek is proud to announce that ABSA Micro Enterprise Finance (AMEF) has chosen to replace its existing loan system with a software service from Xpertek.
The Xpertek loan finance solution underwent a due diligence and was scored against other contenders on:
* Cost; existing client base; financial stability; functional requirements; implementation; track record; training; and versatility.
Xpertek's solution proved to be a good architectural and functional fit. The solution is Web-based so it will be accessible to all ABSA Micro Enterprise Service Centres countrywide.
It is tried and tested at many other micro-finance institutions and has a short project delivery timeframe. ABSA MEF required a system to satisfy the medium to long-term objectives of its business and Xpertek is the ideal partner. Xpertek owns the intellectual property of the software, and the future direction of the solution can be determined in consultation with its substantial and growing client base. The partnership with Xpertek will enable ABSA to scale up for growth in 2010.
ABSA MEF, part of ABSA Small Business, began operating in November 2007 and provides loans to small business owners operating in the informal sector. It falls under ABSA's retail banking division, which forms a major part of ABSA's market share. ABSA MEF has 24 Micro Enterprise Service Centres (MESCs) located in Gauteng, North West, Mpumalanga and KwaZulu-Natal, operating within existing branches, container branches or in selected shopping malls, focusing on areas where their clients live and operate their businesses.
Xpertek services to ABSA MEF include:
* The use of the loan finance solution
* Application and technical support of the software
* Database administration
By switching to Xpertek's solution, ABSA MEF expects to enjoy more flexibility in its product offering and enhance the service it offers its clients.
Xpertek's CEO Barry Leonard commented: “We are very proud that one of SA's leading banks, ABSA, has selected Xpertek as its partner. The process of selection was extremely thorough and rigorous. We are one step closer to achieving our mission of being the leader in the loan finance and payments markets in Africa, and to provide quality solutions that meet the needs of our clients and their customers.”
Gerhard Coetzee, head of ABSA's Micro Enterprises Finance unit, said: "MEF sees a suitable loan administration system as one of the key pillars of success within our business. We are looking forward to the introduction of Xpertek to improve the accuracy and efficiency of our operations."
For further information about Xpertek's loan finance solution, kindly contact Barry Leonard of Xpertek on 011 519-3000 or log on at http://www.xpertek.co.za.
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