Cassiopae, a global finance software provider, announces that La Banque Postale has implemented Cassiopae lending and leasing software to support the bank’s real estate finance business.

La Banque Postale is the French Post Office’s banking subsidiary. The bank’s services include retail banking, insurance, and asset management. In 2012, La Banque Postale made the strategic decision to enter the real estate finance market.

“We identified a number of opportunities around being able to provide a real estate leasing solution for medium companies,” said Eric François, Managing Director at La Banque Postale’s credits enterprise subsidiary. “To enter the market, we needed proven, flexible leasing software that could grow with us in this market and others we might envision. Cassiopae gave us the platform we were looking for and enabled us to successfully launch a real estate leasing activity.”

La Banque Postale’s Cassiopae implementation is a hosted solution. The initial project took about 3 months, going live in November 2012. The implementation expanded in 2013 to accommodate more complex deals and automated accounting interfaces. 2014 will bring SEPA transfer among other project milestones.

The bank’s real estate finance portfolio currently includes leases from 1M€ to over 30M€ with a total outstanding balance of over 200M€. “After just one year in production, we have already achieved a good return on our Cassiopae investment,” said François.

“It’s always exciting to have the opportunity to participate in a new business,” said Franck Jacovlev, EMEA Finance Market Director at Cassiopae. “The project emphasizes that Cassiopae’s core leasing and lending functionality, and the software’s adaptability, can serve as a key platform for businesses looking to enter new markets or geographies. Its success is also a testament to our agile methodology,” Jacovlev added.

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.

About La Banque Postale: La Banque Postale, the banking subsidiary of Le Groupe La Poste, is a unique and special bank operating in the French retail banking market. As an institution that is faithful to its core values: acting in the general interest, confidentiality and closeness to its customers, La Banque Postale puts welcoming all its customers at the heart of its business. It supports its retail and corporate customers by providing a sustainable banking relationship, with an accessible and reasonably-priced range of products and services. It is continually adding to its product range, specifically through relying on the expertise of its subsidiaries and partners, thus entering new areas. La Banque Postale is accessible 24/7, anywhere, any time.

La Banque Postale Highlights: - NBI of €5.241 billion - 11.6 million Post Office current accounts - 10.6 million active customers - 446,000 customers who are Companies, Local Authorities, and Associations - Over 7 million bank cards - 17,000 contact points (data as at the end of 2012)