Novuna Business Finance enhances payments with Sopra Financing Platform

By Gloria Methri

Novuna Business Finance, the UK-based asset finance provider, now offers its customers the ability to receive payments within four hours of processing.

This is made possible by leveraging the technology of Sopra Banking Software’s Financing Platform alongside an enterprise automation and integration platform, and a newly available faster payments API from their payment processing partner.

This enhancement in payment speed complements the implementation of Sopra Financing Platform’s Wholesale solution, ensuring maximum efficiency for its customers.

SFP Wholesale Servicing provides wholesale finance software, delivered through the cloud, at an affordable price with outstanding functionality and scope for integration. Being cloud-native, the wholesale solution can be rapidly rolled out across markets and will scale to a global level, with low set-up fees, low fixed costs, and a ‘pay-per-use’ model that gives a maximum value for money and low Total Cost of Ownership.

Sopra Banking Software (SBS) is a global FinTech company that is reimagining how banks and the financial services industry operate in an increasingly digital world. SBS is a trusted partner of more than 1,500 financial institutions and large-scale lenders in 80 countries worldwide, including Santander, Societé Generale, KCB Bank, Kensington Mortgages, Mercedes-Benz, and Toyota.

Its cloud platform offers clients a composable architecture to digitize operations, ranging from banking, lending, and compliance, to payments, and consumer and asset finance.

Novuna Business Finance is the UK’s fifth largest asset finance provider, offering innovative funding solutions to future-proof businesses including credit automation for faster decisioning, the speedy release of funds, flexible repayment options and no hidden fees.