Volkswagen Semler Finans Goes Live with Full-Stack Asset Finance Delivery
The successful launch marked an important milestone for the finance company which supports a wide range of financial products from leasing, hire purchase, car loans, insurance, service products and more, in addition to a full tech stack delivered as a service. With Banqsoft on board, Volkswagen Semler Finans Denmark advances towards becoming Denmark's leading digital finance company by offering a full stack suite of digital financial products for its customers.
In 2021, Banqsoft and Volkswagen Semler Financial Services Denmark reached an important milestone with the delivery of a new full stack product portfolio for their asset financing services. With Banqsoft on board, the company realizes its goals and vision to become the leading digital financial services provider in Denmark.
Our aim is to be the primary choice when it comes to vehicle financing, providing state-of-the art processes and solutions from start to finish for our customers
Volkswagen Semler Finans now offers a wide range of financial products from leasing, hire purchase, car loans, insurance, service products and more. In addition, a full tech stack was delivered as a service, which provides solutions for core ledger, onboarding and origination, portal for self-service and dealers, business intelligence and more.
“Offering a comprehensive suite of financial products that provides a digital advantage for our customers, from straight-through processing, efficient onboarding to reduced friction in the transaction process and more – enables us to continue growing our footprint as the preferred choice for digital vehicle financing in the Danish market,” states Sterregaard.
A Collaborative Team Effort
The start of the implementation project together with Volkswagen Semler Finans began in May 2020, with Banqsoft’s project team working eagerly to push the deliverables forward using an agile and digitized approach, based on View21 standardized software as the key enabler.
“The implementation project was both exciting and challenging! Good climate and close cooperation with skilled staff at Volkswagen Semler Finans Denmark, has been an important success factor,” says Anna Östlund, Advisory Project Manager in Banqsoft. “Our agile approach throughout the project together with standard functionality in View21 software, made it possible to implement a stable full stack solution for the Danish market.”
We are pleased to have found such a partner in Banqsoft, whom throughout the development has kept digitization at the forefront of this project to enable a seamless digital experience for both dealers and consumers
An important milestone in the project was reached 8th of March, 2021, when the first pilot dealers went live with new solution. The aim for the pilot was to verify a good user experience and to ensure a stabilized version when opening up for all the remaining dealers.
The new product portfolio contributes to Volkswagen Semler Finans Denmark’s growth initiatives as a leading digital financial services provider in Denmark and leverage their competitive advantage in the market.
It is crucial to have a supplier that will not only support our initiatives forward, but also stays on their toes to keep us ahead of future transformations. We are happy to have found such a partner in Banqsoft.
“The completion of this implementation project proves Banqsoft’s successful footprint as a market leader providing software for asset finance in the Nordics,” says Banqsoft CEO Terje Kjøs. “We feel very fortunate that Volkswagen Semler Finans continues to choose Banqsoft as partner, and we are proud to get the opportunity to provide them with competitive advantages through our software, supporting their continued success going forward.”
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Volkswagen Financial Services is a company within the Volkswagen AG group. Since 1994, they have provided financing, leasing, insurance and mobility for consumers around the world and from March 2021, they will open up in Denmark. The company is a joint venture between Volkswagen Financial Services in Germany and The Semler Group – the biggest car importer in Denmark.
Together with the dealers of Volkswagen, SEAT, Skoda, Porsche and Audi, the goal is to become the leading supplier of digital financial products and services to Danish customers and dealers. Through digitization in the entire business area, Volkswagen Semler Finans Denmark offers flexibility, high service and the most complete product range of financing, insurance and service products in the market today.
Banqsoft is a leading provider of financial software solutions for asset finance, digital banking and credit management companies in the Nordics, offering future-proof systems in order to help auto finance companies stay ahead of the market. From end-to-end standardization and highly-automated customizable platforms and processes, Banqsoft has the insight and technology to keep your finance company up to speed throughout future market changes and innovations.
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