Head of Leasing and Factoring, Tietoevry Banking
The challenge
Data-driven, effective leasing
Svea Bank’s need for a scalable, automated and compliant leasing platform primarily emerged from its goal to foster growth. As a prominent European financial group, Svea Bank needed a platform to support the continued growth of the leasing business in Sweden and Finland.
“We set ambitious goals to establish new lease partnerships and contracts and increase revenue. To achieve this, we decided to develop our way of working and acquire a new modern platform. Our requirements included automating manual tasks to improve efficiency and optimize employee resources. Moreover, we prioritized smooth integrations with our internal systems to monitor contracts in real-time plus effective reporting,” says Henrik Holmgren, Business Area Manager Leasing, Svea Bank.
Both Svea Bank and its vendors require timely data on insurance and fee penetrations, as well as various reports to comprehend their business development.
Åsa Kilbäck emphasizes that the bank had earlier successfully collaborated with Tietoevry Banking and decided to continue the partnership. Alongside the leasing platform requirements, which involved some customization, additional factors played a role.
“Our project had tight timelines and a considerable number of new back-office employees, so maintaining consistency in the platform was a benefit. Secondly, Tietoevry Banking’s ability to conduct initial discussions and gap analysis in Swedish ensured a great kick-off,” says Åsa Kilbäck, Leasing System Product owner, Svea Bank.
Tietoevry Banking is also proud of their extended collaboration with Svea Bank.
“We both aim high, so it has been rewarding to support Svea Bank in its growth journey. Our leasing platform is now used in 15 European countries for domestic and cross-border financing,” says Ognien Radovic, Head of Leasing and Factoring, Tietoevry Banking.
The solution
ProFinance by Tietoevry Banking
Tietoevry Banking provided Svea Bank with ProFinance, an automated, scalable, compliant, tailored and integrated leasing platform to boost growth in Sweden and Finland. With this platform, Svea Bank and its partners can efficiently manage and monitor the leasing contracts and portfolios.
About the customer
Svea is a financial company group with operations in several European countries, aiming to be a leading financial company in Europe. With more than forty years of experience in helping companies with their liquidity, we are a natural choice for many entrepreneurs when they need a financing partner. With over 2,000 employees across Europe, we create administrative and financial solutions for small and large businesses in all industries.
Efficient, compliant & scalable leasing
ProFinance covers the complete end-to-end process and contract lifecycle management of leasing. The compliant platform is also user-friendly and easy to implement.
Real-time data and reports
The platform seamlessly integrates with Svea Bank’s other systems. This allows for streamlined contract management and real-time portfolio monitoring of portfolios.
Tailored to meet specific needs
ProFinance has been partially customized to align with Svea Bank’s specific business requirements, ensuring a perfect fit.
The implementation
Commitment and constant support
When the discussion moves into the implementation phase, Svea Bank’s Holmgren and Kilbäck express their happiness that the project was delivered within budget and on time, in just eight months in Sweden. The tight schedule could have caused problems, but it didn’t thanks to the commitment of all parties involved and the support provided by Tietoevry Banking.
“We had no choice but to adhere to the tight timetable. Therefore, our project team, our employees and our partners were fully committed to it. This meant that some testing and training was still underway when we launched the new platform,” explains Holmgren meaning that there were some problems to be solved.
“We received, and still receive, on-site support from Tietoevry Banking’s experts. It is great to get an immediate response,” he continues.
Kilbäck thinks that the experienced project team played a significant role in the implementation.
“It also meant that we didn't have to spend excessive time in workshops. And even if we have customizations, we rely on a lot on the standard platform features.”
Following the successful implementation in Finland, the organization leveraged the learnings from Sweden.
Ognien Radovic from Tietoevry Banking shares similar sentiments.
“We together have demonstrated complete dedication. This has resulted in a clear focus, effective communication and strict compliance to timelines and budgets," says Ognjen Radovic, Head of Leasing, Tietoevry Banking.
Results
Increased sales
Svea Bank’s efforts to expand vendor partnerships, drive sales and efficiently manage leasing operations on the leasing platform have yielded positive outcomes.
“While our employee count has remained constant, we have experienced nearly a 40% growth in the number of contracts within a year in Sweden. This positive development has also brought internal recognition for our leasing business within Svea Bank. We are successfully making our mark,” says Henrik Holmgren, Business Area Manager Leasing, Svea Bank.
Would you like to hear more about Tietoevry Banking’s ProFinance? Ognjen is happy to discuss with you!
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Tietoevry Banking's ProFinance leasing and asset finance platform
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