UK-based Lloyds TSB Commercial Finance has joined forces with HPD Software to develop a new computer system for the secured asset finance industry.
Responding to an ever-increasing demand from growing companies for services such as factoring and invoice discounting, the new software will aim to deliver a more rapid, efficient and cost effective service to clients, say the two companies.
The software is being designed to run on all leading hardware systems (Windows NT, Unix, AS/400 and mainframe) and on almost any database or TPS. Additionally, it will support browser clients and have the ability to adapt to new user interfaces and languages as they emerge including BASDA's ebiz XML.
The development of the new software will be phased, with formal completion expected at the beginning of 2002. In the interim, usable parts of the system will be made available from the end of this year.