New Consumer Credit platform

Customer 

Major consumer credit company.

Challenge

The goal of the project is to activate a new legal entity operating in the Consumer Credit sector (to start in 2021).

Solution

Finwave is taking care of this project. By means of the adoption of the proprietary vertical solution named PANDA, FINANCE EVOLUTION will roll-out a single and integrated platform covering all the operational processes of the Back office and Front office.

Main areas of intervention:

• integrated management of contractual life cycle management processes
• compliance: obligations towards all Supervisory Institutions and the Bank of Italy
• integration with the proprietary front/end, with particular focus on paperless lending, KYC and digital contract.
• full integration between management events and accounting management according to IFRS and Local GAAP standards.
• integration with the holding for settlement and access to the interbank link channel

Results

• Full technical/organizational interoperability with the proprietary "orchestator" platform developed by Ernst & Young 
• Increased efficiency on all processes by means of a structured digitization
• Full regulatory compliance fulfilments for operations pursuant to the Italian /EU regulations: ADV, AUI, ADE, Supervision, CR, ECB, Consumer Credit, Anti-usury provisions.