Following this announcement, the acquisition of the company marks the latest in a series of investments made by Abrigo in order to optimise the manner in which financial institutions gain efficiency through the use of automation in the front and back office.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Abrigo represents a provider of risk management, financial crime prevention, optimised software, and services that help financial institutions manage risk and drive growth in a rapidly changing market. IFSLeaseWorks provides cloud-based lease and loan management software, aiming to empower financial institutions to streamline operations, enhance customer experiences, and maintain compliance. Its solutions deliver robust features for lease origination, asset management, reporting, and accounting, improving the way businesses drive efficiency and development.
The IFS solution is expected to complement Abrigo’s existing loan origination and management platform through the process of adding additional segments of equipment and vehicular financing. IFSLeaseWorks will expand Abrigo’s suite of automation products and strengthens its asset management capabilities, which are important for optimising the manner in which FIs diversify their portfolio and earn additional interest income.
In addition, FSLeaseWorks’ cloud-based system will support efficiency, security, and digitalisation through the entire lifecycle of lease and loan transactions, from payment structuring and pricing to application processing, documentation, billing, credit decisioning, collection, and remarketing.
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