SaaScada, a leading new core banking platform and services provider, has been appointed the software partner for NEXA Finance (NEXA), a recently launched alternative lender for small-to-medium sized enterprises (SMEs) based in the East Midlands, UK.
Aiming to provide a truly alternative lending model that challenges the often-complicated commercial models used by traditional banks, NEXA is dedicated to building brighter financial futures by connecting East Midlands based SME property developers and housebuilders with funders.
SaaScada’s cloud-native platform of open APIs enables new market entrants to rapidly launch banking services, taking as little as 12 weeks to build. It also helps existing financial service providers reduce development and running costs. SaaScada’s core banking platform is used in the UK and internationally by both new entrants and traditional financial services providers who wish to compete in their chosen markets. The SaaScada platform was chosen due to its ability to be implemented quickly, plus SaaScada’s agile approach to product and service development.
Brian Cartwright, Managing Director at NEXA said, “This was a major decision; we took a great deal of time to look at many suppliers in the combined software and banking market however it became very clear that SaaScada is the right partner for us. Their cloud-based agile platform and methodology will enable us to deliver a high-quality service to our clients. What really impressed us was the speed of delivery, ability to create tailored products as well as the enhanced security underpinned by their impressive knowledge and experience of the financial services market.”