Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the signing of a major multi-year service agreement with the financial partner of a leading car manufacturer in China.
This financial institution, an existing client of Linedata, intends to accelerate its local development by leveraging the recognized knowledge of Linedata's team.
For many years, Linedata has contributed to the international growth of financial institutions within the vehicle finance sector. This has stemmed from a comprehensive range of solutions including technology and services, via its two software platforms, Linedata Ekip and Linedata Profinance.
Since 2006, Linedata has assisted with the development of the financial partner of this car manufacturer in China using Linedata Profinance. This platform was set up when the business was launched, initially to manage inventory finance for new vehicles, and was adapted to local needs (specifically in terms of payments and guarantees). The partnership with this client continued with the launch of their retail financial activity, from the signing of contracts through to their back-office management, ensuring compliance with local and international management and accounting regulations.
"Our collaborative approach, expertise and technical and operational know-how of the automotive financing sector, adapted to the local market, allow our clients to optimize the efficiency of Linedata Profinance." remarked Loïc Jaume, Client Project Manager at Linedata. "In addition to our recognized expertise, Linedata's team of consultants is multinational and multicultural, capable of efficiently supporting global firms in their international expansion."
This well-established and profitable partnership led the Chinese firm to strengthen its relationship with Linedata by signing a new multi-year service agreement. This new agreement enables Linedata to consolidate support for its client's growth through the provision of a multidisciplinary team. The aim of this team is to proactively meet the needs of more than 900 front-office platform users, located throughout China at the retail network's sales outlets, and of more than 1,000 users responsible for inventory finance.
Pascal Martinez, Vehicle Finance Sales Director at Linedata comments: "We are very pleased to continue the close collaboration that we have built up over the years with this client in China. Currently, 350,000 contracts are managed each year with Linedata Profinance; with this strengthened partnership, our aim is to further contribute to the growth of this activity."
"This new step in our relationship with this client in China falls within a strategic focus of Linedata to develop its business in the Chinese market." states Sally Crane, Managing Director for Asia Pacific at Linedata. "Our client base in Asia is growing: many financial companies trust us for their asset management and lending and leasing activities. We have local teams based in Hong Kong, Beijing and Chennai, all known for the quality of their service and expertise, and a dedicated hosting platform offering performance and security to our clients."