PARIS, France – June 11, 2014 - Cassiopae, a global provider of asset finance software, announces that the public investment bank Bpifrance is now managing more than €19MM of assets with Cassiopae’s lending and leasing software.
Bpifrance’s mission is to finance and support small to medium-sized enterprises (SMEs) in France through various phases of their development lifecycle. Bpifrance provides financing to companies from inception to IPO, including credit, equity, venture capital, internationalization, export credit, and co-financing.
Bpifrance has implemented Cassiopae’s back-office lending and leasing software. The first phase of the project included the go live for real estate loans in the Isle de France region. Next, the bank brought live all new loans for all regions including commercial loans to finance firms working in the energy savings area. Since July 2013, the bank has been managing more than 27,000 loan contracts using Cassiopae V4 software. Over 200 users are interacting with the system to manage a wide variety of equity loan types and their associated calculations and provisions.
“We embarked on the project with the goals of improving the speed and flexibility of our financing options; we wanted to have a single system to fully manage all our financial products,” said Xavier de Broca, CIO, Bpifrance. “I am most impressed with the ability to integrate complex products,” he said.
“Cassiopae loan and lease software enables Bpifrance to focus on how best to fuel business growth in France without worrying whether their underlying credit software will be able to handle it,” said Franck Jacovlev, Deputy CEO at Cassiopae.
About Bpifrance
The public investment bank, Bpifrance, was founded on December 31, 2012 and resulted from the merger of OSEO, ISP, CDC Enterprises and FSI Regions. Its two shareholders are the French State and Caisse des Dépôts. Bpifrance provides a single financing and investment point for entrepreneurs in the region. The bank’s goal is to assist business growth and innovation by providing access to credit and equity. For more information visit www.bpifrance.fr or follow BPI France on Twitter: @bpifrance.
About Cassiopae
Cassiopae global finance and asset management solutions support millions of assets in live lease and loan portfolios at more than 300 customer sites in over 35 countries. A multi-lingual, multi-currency solution, Cassiopae’s lending, leasing, and asset management software offers a configurable web-based user interface and leverages industry-standard technology including Web 2.0 Rich Internet Application technology, Oracle® DB, Unix®, Linux®, and Windows® environments. For more information, visit www.cassiopae.com.
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