We are delighted to share that our member HPD LendScape’s key client Allied Irish Bank (AIB) has completed a major technology initiative with the migration of its receivables finance operations to HPD LendScape’s fully cloud-hosted platform. The Cloud migration and software upgrade will allow the bank to easily scale up its offering and improve its ability to provide funding for hard-pressed SMEs in the challenging economic environment.
This is the first time HPD LendScape has fully hosted in-house the LendScape platform for their existing major bank client. With large banks such as AIB additional security and regulatory requirements come into play which adds further levels to any platform migration. The platform migration has been completed within a wider context of the pandemic shifting banks’ priorities regarding digital redevelopment projects, with several global banks undergoing cloud-first transformations in recent months. Even before the current economic crisis, many large banks were creating efficiencies by outsourcing major applications, and this initiative is an excellent example of achieving this as well as enhancing client services.
The migration means that AIB’s entire UK and Republic of Ireland receivables finance platforms are now fully and securely hosted externally by HPD LendScape. Alongside the platform migration, there has also been a major software update to AIB’s LendScape solution, which now offers a one-stop package of receivables finance features, including a new web portal for AIB’s SME customers that enhances user experience and the bank’s ability to offer funding.
“We’re thrilled to have worked together with AIB on this platform migration. AIB is one of our most longstanding customers, and this project required extremely close collaboration between the technical and business functions on both sides. Most importantly, this project demonstrates that large scale migration of major bank receivables finance functions can be completed successfully at low risk and will enable AIB to provide improved access to finance for [the] UK and Irish businesses, which is much needed in these difficult economic times.” - says Kevin Day, CEO of HPD LendScape.
HPD LendScape is the world’s leading software vendor for secured lending, including supply chain finance, invoice discounting, factoring and asset finance deployed by over 130 lenders across the UK, EMEA, North America and APAC. Clients include HSBC, Deutsche Bank, Bibby Financial Services, ABN-AMRO, Attijariwafa Bank, Investbank of Jordan, QNB Alahli (Egypt), Société Générale Morocco, CIH Bank, Tradewind, FNB Finance Lebanon and Banque Populaire Morocco.