When micro lender Blue Dot Rural (BDR) learned its service provider had decided to cease hosting its loan finance solution, it had a problem.
However, help was at hand and on 19 April 2007 BDR signed a contract directly with Xpertek for the use and support of Acquire, its NCA-compliant loan finance solution.
BDR is a micro-finance company offering personal and home improvement loans with specific focus on the lower-income market. With the deadline of 1 June looming for lending institutions to comply with the NCA, Pakie Mphahlele, Managing Director of BDR, commented that as Acquire already complies with NCA rules and regulations BDR, will not need to invest any further to ensure compliance.
BDR's first association with Acquire was through an ASP model and after using the solution for six months, Pakie Mphahlele said his management team was impressed with the solution and Xpertek.
He describes the advantages Acquire brings to his business: "Besides being a fully-fledged loan finance solution, the comparative advantage lies in its user-friendliness and adaptability. It offers flexibility in reporting formats and a Web-based platform can be used remotely which makes a huge positive impact on efficiency."
In his opinion, the greatest benefit lies in its ability to accommodate a variety of financial transactions and lending products, eg, it can manage asset finance, savings products and micro-loans at the same time.
For further information about the Acquire 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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