Xpertek Group’s loan finance solution, Acquire, is now being used in the consumer credit market, for online shopping, and in the cellular product space.
Subsequent to the launch of the credit card solution last year, Xpertek implemented the solution at AFB, where it is used as a retail credit solution for merchants operating within sub-Saharan Africa. The basic solution, a closed-loop card designed to run with minimal user intervention, was delivered in a short time frame followed by a second phase with refined functionality a few months later. Customers can apply for an AFB card at selected stores and receive SMS updates on the progress of their applications. On approval, the customer receives a one-time PIN (OTP) to be activated in-store. Acquire integrated successfully to the POS devices, which activate the cards. This solution, developed locally by Xpertek’s own team, moves Xpertek into an exciting, high-volume transactional processing business, and the technology caters for the entire credit life cycle, including account origination, credit decision management, account management, customer servicing and collection management.
Leading home shopping company, Arcadia, has deployed Xpertek’s Acquire solution to process the deals initiated on its online shopping Web site. This represents a new market segment for Xpertek, but demonstrates the configurability and adaptability of the Acquire product.
Jabba Connect, provider of affordable portable consumer technology, runs its sales and delivery process on Xpertek’s Acquire Process Manager (APM). Built specifically for Jabba, the solution incorporates a Quick Capture component to capture and process applications for prospective sales together with workflow functionality for the confirmation, delivery, administration and customer service processes. The component for the delivery process was designed to facilitate the delivery of the physical package associated with the deal. A number of interfaces exist between all processes, and integration with RAM, Courier IT, Bright Point, Vicidial and TransUnion has been successfully achieved.
Xpertek’s CEO, Barry Leonard, says: “I am extremely proud of our team as they have built robust, flexible and functionally rich solutions in a relatively short period of time to administer multiple processes in a variety of businesses.”
Xpertek’s loan finance solution, Acquire, manages in excess of R5.8 billion worth of loans across its client base, is Web based, and is offered as a centralised, hosted or mobile solution. Xpertek’s loan finance clients include lenders in the vehicle finance, home loan and asset finance/rental markets.