At the close of 2009, SciFin, a registered credit provider, signed a deal to implement Xpertek's loan management solution, Acquire, to administer its loan book.
SciFin provides a discounting line for rental agreements to suppliers to the public sector.
SciFin, “The Science of Finance”, has entrusted the administration of its loan book to “the science of loan software” experts, Xpertek.
Xpertek's Acquire solution is a Web-based, loan finance administration system, which handles the entire loan process from start to finish. SciFin chose to implement Acquire to cater for its aggressive expansion plans and volumes. SciFin is focused and committed to become the leading asset-based financier in the public sector, providing pre-approved funding for parastatals, municipalities and provisional and national government departments.
Acquire is a perfect fit for SciFin's requirements as it has the ability to easily integrate to SciFin's front-end loan acquisition system using Web services, while facilitating multiple branch access. Additional requirements that Acquire caters for are the creation and generation of documents, which is handled by Acquire's comprehensive document management system, processing EFTs from different banks and proactively managing the collection of debt. With the benefits of reduced administration costs, reduced credit risk, accelerated collections and improved productivity that Acquire provides, SciFin can look forward to fulfilling its mission to be the leading asset-based financier in the public sector.
SciFin's Billy Coetzee had this to say about the company's decision to deploy Xpertek's loan management solution:
“The Acquire solution offers SciFin the opportunity to follow a more customer-centric approach by reducing manual, paper-intensive processes and subsequent deal turnaround times. The major advantage for SciFin, however, lies in the proactive management of collections and the system's ability to accommodate a variety of financial products, which is in line with our expansion plans.”
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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