Lead Machine green 160x1200

Lead Machine green 160x1200

Lead Machine green 600x108

Thursday, 02 June 2022 13:19

Pepper Money’s Solana improves business volumes by 70% with the Appian Low-Code Platform

By Appian
Luke Thomas, Regional Vice President APAC at Appian Luke Thomas, Regional Vice President APAC at Appian

COMPANY NEWS: Appian announced today that Pepper Money, a leading consumer finance company in Australia is using the Appian Low-Code Platform to support its asset finance loan origination solution, Solana, which has allowed the company to grow its business volumes by 70% while improving efficiencies.

This business growth was achieved by increasing the credit and settlements team’s productivity, with each team member now processing 53% more applications.

Pepper Money worked with Appian to develop Solana as a market-leading solution for the creation and end-to-end processing of finance applications for a wide range of asset types across both Consumer and Commercial asset finance and Novated Leasing.

Pepper Money’s chief information officer Steven Meek says that Solana has enhanced the asset finance application journey for staff, customers, introducers and partners.

“As well as increased business volumes, olana’s automation of credit rules, scorecards and conditioning provides our customers with an initial approval decision within minutes of submitting their applications and a third of applications are approved in under one minute,” says Meek.

Solana enables introducers to create and process the loan applications via an intuitive UI with built-in controls to align to policies and support the business process.

“One of the solution’s key benefits is its suite of APIs, which allows Pepper’s partners or introducers to interact with Solana from their own CRM systems to complete the entire finance journey,” said Appian APAC regional vice president Luke Thomas. “This new innovation allows introducers to avoid re-keying between their own system and Pepper’s and also reduces the training required for their staff.”

The digital journey Solana provides is further enhanced through electronic documentation and e-signing capabilities.

Using Appian’s Low-Code Platform to create Solana allowed Pepper Money to revise its business processes, increase automation and integrate various external sources to provide a faster and more scalable solution.

“There has been a significant reduction in the time it takes staff to complete their tasks, including validations and controls that help avoid errors,” explains Meek. “This improved efficiency has led to a considerable decrease in overtime requirements of the teams, and SLAs are still being met even though volumes processed are growing.

“Additionally, Solana’s workflow supports many previously off-system processes that used to be managed through emails and phone calls. The screens and workflows have been designed to suit the needs of each user role to help make it easier to do their job,” he said.

Pepper Money has been an industry trailblazer since its establishment in 2000, and the business was confident that partnering with Appian would give its staff, introducers, and customers a digital journey worthy of one of Australia and New Zealand’s largest, most trusted, and award-winning non-bank lenders.

According to Thomas, “Solana has improved internal efficiencies and allowed Pepper Money to deliver an unparalleled customer experience. Appian provided a solution that also allows Pepper Money to react quickly to emerging market opportunities by expanding product capabilities and introducing new asset categories.”

Pepper Money’s Solana solution was also a global finalist in the 2022 Appian Excellence in Low-Code Awards.  The annual awards honour companies leading exceptional business transformation programs with low-code technologies, with Solana being recognised as disrupting its market, serving as a catalyst for a new standard in how work is done.

Read 932 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

SONICWALL 2022 CYBER THREAT REPORT

The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Ransomware
Cryptojacking
Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.

GET REPORT!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments