AltX-listed Stratcorp signed a deal with Xpertek on 15 September 2008 to purchase a loan administration solution. In line with its group vision, this action strengthens StratFin as a subsidiary of Stratcorp Limited on its road to become a major player in the asset-based finance industry.
Xpertek's solution will manage the application and collections processes. A high-level overview of StratFin's requirements revealed the need for FICA compliance, KreditInform integration, the ability to handle multiple currencies, changes to interest rates and block discounting.
As StratFin has branches in Durban, Cape Town, Johannesburg and Centurion, the solution had to be available to its branch network. In addition, there was a requirement for defined reporting and the facility to store scanned documents in a database.
The technology behind Xpertek's loan finance solution is open and versatile, therefore enabling integration to KreditInform and other third-party integration such as Bulk SMS and to various accounting packages, eg, Pastel. Compliance to both FICA and the NCA is satisfied while multiple currencies, interest rate changes and block discounting are all catered for within the solution.
Being a Web-enabled product, any user anywhere can access the solution so StratFin's branch network can communicate effectively. The solution comes standard with approximately 270 reports but bespoke reports can be created after further user training. Documents are easily scanned into the solution for easy retrieval and reference at any time when required.
Ian Wright, Chief Information Officer of Stratcorp Limited, said: "The Xpertek system provides StratFin with the tools and flexibility we need to manage the varied types of deals in which StratFin is engaged. The system will fit in to our existing infrastructure and will allow us to expand and integrate, as we require. We look forward to a successful implementation and business relationship with Xpertek."
For further information about Xpertek's loan finance solution, kindly contact Barry Leonard, CEO of Xpertek, on 011 519 3000 or log on at www.xpertek.co.za.
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