Toyota Finance NZ partners with Ephesoft on loans

By Allen Jack

Toyota Finance New Zealand (TFNZ) has decided to collaborate with software company Ephesoft on an application to drive its loan applications and settlement processing.

Specifically, TFNZ wants to use Ephesoft’s ‘Transact’ platform to automate parts of the administration process surrounding proprietary loan applications and ancillary documents, therefore allowing data extraction to be sped up. 

Acknowledging that the partnership was centred on a desire to provide clients with a better overall service, Stephen Blay, General Manager of Operations at TFNZ, said, “For a financial organization like TFNZ, the digital transformation of loan processes is most importantly a customer service initiative.”

“Ephesoft will enable us to integrate an innovative, cloud-enabled solution that uses machine learning for enhanced document and data management, ultimately making it simpler for our staff to help customers secure financing for a new vehicle.”

“This partnership will also enable our loan operations team to shift their focus on manual data handling to strategic customer support,” he said.

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Putting AI in finance

Ephesoft Transact is a thoroughly modern innovation in software. Using artificial intelligence (AI), machine learning and cloud-based tech, Ephesoft has created a suite of services to empower workers. 

A company which places great importance on the partnerships it forges, Ephesoft conducts an annual ‘Partner of the Year’ awards sweep to highlight the relationships that have played a significant role in shaping the company.

“We are honoured to partner TFNZ as they invest in agile digital transformation solutions for their loan validation department,” commented Ike Kavas, founder and CEO. 

“It is inspiring to see lenders and other financial organizations taking charge of their high-value documents and manual workflows in order to modernize the back office and deliver faster, more accurate customer results.”

“We are pleased to be TFNZ’s flexible Software-as-a-Service partner, offering a cloud-native, machine learning technology that enables them to embrace future change and transformation.”

For more information on business topics in ANZ, please take a look at the latest edition of Business Chief ANZ.

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