pancredit, a leading lending system solutions provider, is helping its very first customer, Haydock, to boost its business capacity by upgrading its consumer and corporate lending solution. pancredit's version 4.4.2 provides Haydock, one of the UK's leading independent finance companies, with better performance and more flexibility.
Haydock implemented the first version of pancredit’s market-leading lending solution, which covers the entire life cycle of a finance agreement and supports all types of lending products, in 1991. Although the solution allowed Haydock to produce, store and access thousands of motor finance agreements, the company’s rapid growth over the last few years meant that the system was running close to capacity. To enable further expansion and better efficiency, Haydock needed to upgrade to a new version of the pancredit lending solution.
As a result, Haydock has migrated to pancredit’s current version 4.4.2 on Oracle 9I and AIX 5 on new IBM hardware platforms. This latest version, which was released at the end of May, offers the finance company more resilience, better performance and an improved platform for planned future growth. Haydock was the first of pancredit’s customers to upgrade to version 4.4.2.
The version has many new benefits, such as a facility to include charges for late/missed payments with the next direct debit/scheduled instalment. This is in addition to version 4.4.1’s workflow management functionality, which gives users greater visibility and more control of their work, and the ability to track and understand customer delinquency.
Ian Eddleston, IT Manager at Haydock, comments, "When we realised we needed to update our lending solutions, we knew that pancredit would be able to help. We have had an excellent working relationship with everyone at pancredit since we implemented our first solution in 1991, so we knew that we could rely on their professionalism and vast knowledge.
"From our initial discussions to the final implementation, the whole process was seamless. Excellent communication between pancredit and our IT team meant that we knew exactly what was happening at all times and the migration of data was very fast and smooth and implementation was achieved within our agreed timeframe. In particular, Mike Hartas, a technical consultant at pancredit, played a key role in this migration and we would have struggled without him. Even though we knew how professional pancredit were before, our expectations of them were yet again exceeded."
Haydock has also employed pancredit to deliver a Business Process Review project, which will identify opportunities within the business that require automation and better efficiency.