Pepper Cash's tech partnership boosts asset finance

Non-bank lender Pepper Cash has partnered with software program firm Appian to assist its asset finance mortgage origination answer SOLANA.

SOLANA has allowed Pepper Cash to develop its enterprise by 70% whereas bettering efficiencies.

The expansion was achieved by growing the Pepper Cash credit score and settlements workforce’s productiveness, with every workforce member processing 53% extra purposes.

Pepper Cash labored with Appian and its Low-Code Platform to develop SOLANA as a market-leading answer for the creation and end-to-end processing of finance purposes for a variety of asset varieties throughout each shopper and business asset finance and novated Leasing.

Pepper Cash chief info officer Steven Meek (pictured) mentioned SOLANA had enhanced the asset finance utility journey for employees, clients, introducers and companions.

“In addition to elevated enterprise volumes, SOLANA’s automation of credit score guidelines, scorecards and conditioning gives our clients with an preliminary approval choice inside minutes of submitting their purposes and a 3rd of purposes are authorised in below one minute,” Meek mentioned. 

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The brand new platform has been properly obtained throughout the mortgage {industry}.

“Pepper Cash has revealed an in depth set of APIs overlaying a variety of eventualities,” mentioned Perth brokerage Loans Limitless director Neil Bennett.

“They've shortly grow to be some of the forward-thinking finance corporations in our sector.”

In the meantime, Perth brokerage Bizi Loans managing director Ben Needle mentioned Pepper Cash had supplied brokers with an industry-leading suite of APIs.

“Eventualities vary from utility submission to standing updates, doc era and settlements,” Needle mentioned.

SOLANA allows introducers to create and course of the mortgage purposes through an intuitive consumer interface with built-in controls to align to insurance policies and assist the enterprise course of.

Appian APAC regional vp Luke Thomas mentioned this was one of many options and key advantages in its suite of APIs.

“This permits Pepper’s companions or introducers to work together with SOLANA from their very own CRM techniques to finish all the finance journey,” Thomas mentioned.

“This new innovation permits introducers to keep away from rekeying between their very own system and Pepper’s and in addition reduces the coaching required for his or her workers.”

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SOLANA additionally gives digital documentation and e-signing capabilities by utilizing Appian’s Low-Code Platform which allowed Pepper Cash to revise its enterprise processes, improve automation and combine varied exterior sources to supply a quicker and extra scalable answer.

“There was a major discount within the time it takes workers to finish their duties, together with validations and controls that assist keep away from errors,” Meek mentioned.

“This improved effectivity has led to a substantial lower in time beyond regulation necessities of the groups, and SLAs are nonetheless being met though volumes processed are rising.”

SOLANA was a worldwide finalist within the 2022 Appian Excellence in Low-Code Awards.

The annual awards honour corporations’ main distinctive enterprise transformation packages with low-code applied sciences.  SOLANA was recognised as disrupting its market and serving as a catalyst for a brand new normal in how work is completed.

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