Fujitsu Limited and Cloud Lending Solutions today announced that they have signed a Memorandum of Understanding (MoU) agreeing to a strategic partnership to provide banks and other financial services organizations around the world the cloud-based, end-to-end lending and leasing platform - a fintech solution - developed by Cloud Lending.
The partners will deliver leading-edge fintech solutions to existing Salesforce enterprise customers and businesses looking to expand their product portfolio or geographic footprint. The two companies will also engage in go-to-market collaboration to support global customers, initially starting with the Japanese and ASEAN markets. Additionally, the two companies will strengthen their strategic partnership in the United States by collaborating with Fujitsu Laboratories of America, Inc.
This solution is a cutting-edge cloud service that digitizes origination, underwriting, servicing, and collections, creating a single system of record for lending and leasing operations. The offerings are expected to help traditional lenders upgrade to new solutions leveraging the latest cloud technology. Included in the solution are CL Originate(TM), CL Lease(TM), CL Loan(TM), and CL Collections(TM), all of which will run on the Salesforce Force.com platform, and are to be introduced to both large and small businesses.
Moving forward, together with Fujitsu Laboratories of America, Fujitsu will contribute to the solution with its finance-related business knowledge and system-construction know-how, and also support by localizing the solution with customers' existing systems.
"This is an important strategic initiative for Fujitsu, aimed at developing new customers and new solutions," said Hideki Kiwaki, Corporate Executive Officer, EVP, Vice Head of Global Services Integration Business, Fujitsu Limited. "This collaboration between Fujitsu and Cloud Lending Solutions will enable rapid and flexible delivery of financial technology solutions that will eliminate the departmental silos slowing lenders down. Financial organizations will be able to get to market quickly with secure digital products that will appeal to today's demanding borrowers."
"Cloud Lending Solutions clients elevate profit margins by generating greater revenue, increasing operational efficiencies, and improving credit risk management," said Snehal Fulzele, CEO, Cloud Lending Solutions. "Our partnership with Fujitsu will allow us to deliver advanced innovations in financial services to businesses in the Asian region including Japan."
"Working with startups and the rich Silicon Valley ecosystem is one of the core missions of Fujitsu Laboratories of America," said Masayuki Kato, CEO of Fujitsu Laboratories of America. "This collaboration showcases Fujitsu's open innovation by bringing collaborative best-of-breed solutions to Financial Services customers around the world."