ScotPac selects Dancerace to power receivables finance business
ScotPac – the largest non-bank business lender in Australia and New Zealand – has partnered with Dancerace to deliver the next step in its ambitious technology transformation program. The move will see ScotPac adopt Dancerace’s c3 Backoffice Control, f3 Client Onboarding and e3 Client Access systems for its core operations, consolidating its existing invoice finance systems into the Dancerace software platform.
The partnership will enable ScotPac to deliver a unique, market-leading borrower experience for thousands of invoice finance clients, saving them time and providing them faster access to funds. ScotPac will use Dancerace’s commercial finance OS to allow clients to share real-time information seamlessly and securely from their business systems. ScotPac’s dedicated client support teams will benefit from intelligent tools to respond to client applications and requests faster.
The partnership with Dancerace is a key part of ScotPac’s focus on building scalable technology solutions to continually improve services for clients and advisors, says ScotPac CEO Jon Sutton:
“Dancerace are a global leader in integrated commercial finance platforms, so they were an obvious fit for ScotPac.”
“Time is an invaluable commodity for SME owners and operators, and the Dancerace system will save time at all points of the client journey – from application to approval to receipt of funds.
“With the initial platform integration process now complete, we look forward to its continual development and rolling out a roadmap of new features and innovations over the next 12 months.
“ScotPac’s collaboration with Dancerace builds on our recent program of technology-led enhancements, including the acquisition and integration of online lender Business Fuel, and the launch of the market-leading ScotPac Partner Portal.
“Our invoice finance book grew by around 30 per cent in 2022 and we expect that trend to continue. We are really excited about the benefits this partnership will deliver existing and prospective clients in terms of more flexible and focused support.”
The partnership caps a year of record financial growth for Dancerace and is a significant milestone for the technology provider, says Dancerace CEO Elliot Avison: “Dancerace is on a mission to build the commercial finance systems of the future, to help lenders work smarter and, in turn, better support SME borrowers worldwide.
“It’s a privilege to have ScotPac want to join us for the journey. Our new partnership is recognition of the power of the Dancerace platform today and the strength of our vision for tomorrow.
“I’d like to thank Jon and his team at ScotPac and our UK and Australian teams at Dancerace for the incredible hard work they’ve put into the partnership to date, and the success of our transformation, migration and development projects so far. This is only the start. The best is yet to come.”