Apak upgrades wholesale finance system
09 January 2008 | 2291 views | 0
Apak is delighted to announce that a new version of its market leading wholesale finance system has now been launched.
'WFSv6' has been developed on open architecture using the JAVA/J2EE platform and Oracle RDMBS.
"'WFSv6' firmly places APAK as the leading supplier of the best business focused and technically advanced wholesale finance system", commented APAK Business Unit Director, Tony Allen, who added:
"The new, fully web enabled application, inherits all of the sophisticated functionality from the previous version but also offers a number of enhanced features: Multiple country capabilities with integral language translation have been augmented to support our customers' growing multi-national interests. 'Amortised' dealer loan functionality is another significant aspect of the new system, providing finance institutions with a fully integrated loans module which supports traditional overdraft lending along with advance commissions and term loans".
'WFSv6' will also open the door to new markets by supporting multi-item invoice financing and processing. Almost any type of equipment can now be funded, which allows APAK to cater for institutions that offer 'Inventory Finance' and 'Factoring', providing the financier with a complete range of funding solutions to help win vendor and dealer business.
APAK's first 'WFSv6' customer will go live in quarter one this year when a further announcement will be made. As well as the new functionality, finance house staff and dealers will appreciate the improved 'usability' and real-time speed of the web based system. Advanced MIS capabilities also mean that users will have greater access to a wide range of industry reporting tools.