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De Lage Landen selects APAK to implement Commercial Finance Technology System
De Lage Landen has chosen APAK to support its commercial finance technology requirements by implementing ‘WFS’, the market leading stock-funding solution for Europe. The new system is now running live, replacing the incumbent third party software in just three months.
With offices and joint ventures in more than 30 countries worldwide, De Lage Landen is a global provider of high quality, asset-based financing solutions. The company’s expertise includes inventory finance and floorplanning. A sophisticated wholesale and inventory finance application was needed to fully automate De Lage Landen’s stock funding operations across specialised industries, which include food and agriculture, office equipment and technology, materials handling and construction, healthcare, and transportation.
Peter Johnstone, VP and General Manager of Commercial Finance for Europe at De Lage Landen is delighted with APAK’s system, which he views as the platform for providing a pan European, ‘Commercial Finance’ service:
“De Lage Landen required a specialised solution with multi-national functionality that would allow us to support local dealers’ specific country requirements for floorplanning and inventory finance throughout Europe. ‘WFS’ matched our needs exactly and was implemented smoothly by APAK’s experienced financial systems team. The new software is capable of facilitating high volume unit processing, and significantly reduces the overhead of providing a dealer stock funding service. WFS is already running live at De Lage Landen in the UK, and we have plans to roll the system out to Germany and Spain by the end of this year”.
Tony Allen, Business Unit Director at APAK, sees the latest WFS installation as further evidence of the growing requirement for progressive, global stock-finance applications:
“APAK now has live operations in Denmark, Finland, Germany, Norway and the Republic of Ireland, as well as the UK. We are of course very pleased to support De Lage Landen’s European business aspirations in commercial finance, helping the company to provide a multi-national inventory finance service by supporting local dealer currencies and languages in multiple countries”.
WFS is provided to De Lage Landen on an ASP basis (Application Service Provision) or bureau basis. Many of APAK’s clients choose to implement the system using this delivery model because of the minimal capital outlay required, which allows finance providers to concentrate on their core business competencies.
Notes to Editors:
About APAK
With over 25 years’ experience of providing specialist financial systems, APAK has become a market leader in the asset-based finance and retail banking sectors. Our superior wholesale finance systems are used by major financial institutions, processing over €15 billion worth of direct debits and credits through our ASP based systems each year. APAK is also renowned for its expertise in developing and integrating core banking technology.
APAK is a member of the SWORD Group which has offices in 21 countries. For further information please contact: Mark Johnson - Tel: + 44 (0) 1454 871000, Email: mark.johnson@apakgroup.com
www.apakgroup.com
About SWORD Group
SWORD is an international IT company specialising in the delivery of software and services to regulated industries. A global leader in the delivery of Governance, Risk and Compliance Management solutions SWORD is developing into a leading Software as a Service (SaaS) company with the skills, infrastructure and knowledge to support customers across energy, travel and transportation, healthcare, insurance, banking, telecoms and government.
SWORD employs over 2000 people and last year generated £142 million in consolidated revenue. The company forecasts that in 2008 its consolidated revenue will exceed £167 million.
www.sword-group.com
About De Lage Landen International B.V.
De Lage Landen is a global provider of high-quality asset-based financing products. The company, headquartered in Eindhoven (the Netherlands), is a wholly owned subsidiary of the Dutch Rabobank Group, which is Triple-A rated by the major rating agencies Moody’s and Standard & Poor’s.
With offices and joint ventures in more than 30 countries worldwide, De Lage Landen specializes in asset financing and vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food and Agriculture, Healthcare, Office Equipment, Technology Finance, Financial Institutions, Trucks Trailers and Materials Handling. De Lage Landen and also offers private-label leasing programs for the Banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.
In the Netherlands, De Lage Landen offers a broad range of financing products, both through local Rabobanks and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Trade Finance.
Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in six European countries.
In 2007 De Lage Landen grew its net profit to €234 million ($321 million) and its lease portfolio to €20.7 billion ($30.5 billion). By year end 2007, De Lage Landen had 4,735 employees.
For more information, please visit our website: www.delagelanden.com