Swedish financing-company Wasa Kredit wanted a new core IT system to enable customer self-service and improve back-office operations. Banqsoft provided an end-to-end SaaS solution that gives the business a fresh competitive edge.
Wasa Kredit offers leasing and lending services to approximately 230,000 private customers and 42,000 corporate customers across Sweden. A key part of its business is providing financing for vehicles – ranging from regular cars to specialized machinery for different industries.
The company wanted to increase self-service options for its clients, as well as to improve some back-office functions. A project was kicked off to look for a new core system, with the team settling on an asset-finance solution from Banqsoft.
The implementation includes Banqsoft’s onboarding engine PreView, the contract-management system CoreView, and the complementary module LiveView for reporting and powering data analytics. Output document management was also part of the Banqsoft solution and delivery.
We wanted to be able to develop new products in a compliant manner, and add some capabilities in terms of capital coverage, bookkeeping and calculating residual value. Wasa Kredit was looking for a long-term partner and advisor who is an expert in all these areas.
We wanted to be able to develop new products in a compliant manner, and add some capabilities in terms of capital coverage, bookkeeping and calculating residual value,” says Wasa Kredit’s Head of IT and Development, Johanne Christiansen Hammarlund.
“Wasa Kredit was looking for a long-term partner and advisor who is an expert in all these areas. It was very important to us that we have a standardized platform, as it’s much more efficient over the longer term.”
“We saw that the Banqsoft solution is modern, fits well with our long-term strategy, and can help to grow our business in a compliant manner,” she says.
Stepwise integration, tight collaboration
The new solution is delivered and operated by Banqsoft as a SaaS model. This makes it easy to implement any new software versions for Wasa Kredit, as well as to provide full maintenance services.
To minimize the impact on its business, Wasa Kredit is bringing its leasing products onto the new platform in stages. Services for corporate leasing are first to be implemented, followed by products for paying installments on car loans. The roadmap then moves to leasing of specialized equipment to companies, and vehicle leasing to private customers.
To ensure the new platform would be well-received by salespeople and other internal users, Wasa Kredit brought employees into the process from an early stage. They were able to provide feedback on the implementation and learn about new features in education sessions customized for different groups. Regular steering committee meetings and on-site collaboration also helped to ensure the success of the implementation.
We maintained a good dialogue throughout the project and came to decisions quickly when needed. Thanks to this positive and tight cooperation, we were able to finalize the project on time and on budget.
Partners for the long term
The Banqsoft platform is now a key part of Wasa Kredit's strategic IT roadmap, with the implementation laying the foundation for a broad spectrum of new service offerings.
“We chose Banqsoft as we wanted an IT supplier who understands the journey we are on. It was very important to us that we have a supplier who is also a long-term partner and advisor,” says Christiansen Hammarlund.
“We can now build the self-service options we wanted in order to give our customers and partners a much better experience. The platform is helping us to be far more competitive, as we can add these new products a great deal faster than we could before. We are also 100% compliant.”
“Today our whole process is much smoother. This is the overall gain,” she says.
Johanne Christiansen Hammarlund
Head of IT and Development, Wasa Kredit
