Linedata Services, a major global player in the financial IT market, today announced the launch of its new revolving module for its finance software package EKIP.
This new module allows financial institutions to offer their customers packaged finance solutions, with different types of credits attached to a card, while reducing the operational risk through rationalisation of back-office procedures around the same tool. This new form of revolving credit is designed for European specialists in consumer credit, but also for financial institutions that could, with a single tool, extend their financing offer, thus increasing customer and partner loyalty.
Resulting from a significant investment policy initiated in 2003, the new revolving credit functionalities enrich the global Front to Back offer of the EKIP solution. Ruben Baleato, R&D manager of the Leasing & Credit Finance activity at Linedata Services, specified that: "Within the framework of our R&D policy, we wanted to meet the expectations of the key market players in terms of performance and functional coverage. After confirmation of EKIP's technical performance in collaboration with IBM, certifying its capacity to manage more than 5 million live contracts in a base, we have reached a major new step in the consumer financing market. Indeed, EKIP is today the only solution that offers a complete range of financial products and associated services on the same database. The key factors to profitability for finance companies can be found in the same software package, making EKIP the solution on a European scale."
Philippe Gaillard, Manager of Business Development for Linedata Services' Leasing & Credit Finance activity, confirms: "We are permanently developing and proposing new functionalities for helping financial institutions to increase the value of their financing offer. With the rapid development of revolving credit offers, notably in emerging markets, Linedata Services is once more present, and is the prized partner of European financial institutions. These investments from Linedata Services have been rewarded, as the new module will be operational as from mid-2005, within a subsidiary of one of the major international players in the consumer credit field."