History
We have been working with Vehicle and Asset Finance since the 1970’s both operationally in the business and the systems area. We took the decision to build an asset finance system and to include in it our learnings from these years. We have hands-on understanding of the business in all its facets from application origination through credit assessment, calculations, document creation, supplier pay-out, account administration, arrear management, account restructuring, termination procedures and various agreement types.
Business Functionality
We can talk about this in depth but you will find that we are well versed in the often underestimated and difficult areas of instalment based systems. We have classes that can perform complex structured payment plan calculations together with their amortisations. We support NACM, APR, 360 day year and rule of 78 calculations together with their underlying income earnings taking into account bad-debt write-offs, profits on settlement, etc. Account restructuring for arrear respreads, capital additions and base rate changes are well catered for. We would welcome the opportunity to discuss your requirements in depth from which you could get an appreciation of our understanding of this type of lending.
Key Design Issues
These are some of the key design issues we considered critical. Firstly, once a client has been loaded it must be possible to get a complete view of his exposure. Our system allows you to see a client’s total exposure, relationships such as family, shareholding, directorships, contingent liabilities in respect of guarantees, etc. Secondly, the account entity has been designed in such a way that it is possible to create account types by assembling self-contained classes. These classes govern the accounts behaviour such as instalment calculation methods, up-front tax capitalisation or tax on rentals, earnings policies and frequency, termination procedures, etc. Thirdly, given the rapidly changing IT environment there is complete separation between the user interface, data-base and business classes which provides flexibility in using our classes or services with existing systems.
Technology
The system is web based using Microsoft ® technologies such as Entity Framework, MVC, SQL, JavaScript, C#, HTML, CSS and related tools. We also use Infragistics ® controls and the UI makes use of Bootstrap.
