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                    Oak and Finpower

                    Embracing the Future – Oak Capital’s Strategic Partnership with finPOWER

                    May 28, 2024 | Blog/News

                    At Oak Capital, we’re always striving to enhance our operations and deliver exceptional service to our clients. As part of our ongoing commitment to innovation and excellence, we’re excited to announce our strategic partnership with finPOWER, a leading provider of loan management systems. This collaboration marks a significant step towards a more automated, secure, and streamlined operational framework.

                    Why finPOWER?

                    After an extensive evaluation process, considering various contenders, we selected finPOWER as our preferred loan management system (LMS) provider. finPOWER stood out for its alignment with our strategic goals, cost-effectiveness, and local expertise. This partnership will allow us to leverage finPOWER advanced technology and industry knowledge to elevate our loan management capabilities.

                    Founded in 1981, finPOWER has been driving innovation in lending and investment software for over 40 years. They have developed revolutionary software products like finPOWER Connect and finPOWER Connect Cloud, which are used by over 400 lenders, merchants, investment managers, banks, non-profits, law firms, and governments. These products are known for facilitating fast decisions, automated workflows, applications, investments, credit, and collections.

                    finPOWER Australia was established in 2013 as a subsidiary of Intersoft Systems in New Zealand. Their team of support specialists, account managers, product specialists, and software solution developers is based in North Lakes, Queensland. finPOWER Connect is a leading customer-centric loan management software in Australia, with a strong focus on loan origination, credit, investors, partners, customer and loan management, and compliance.


                    Key Benefits of the Partnership

                    Customised Solutions The new LMS will be tailored to meet Oak Capital’s unique needs. finPOWER‘s system includes customisation, configuration, and setup to be adapted for our operations.

                    Enhanced Security and Automation The transition to finPOWER’s system will further elevate our security protocols and streamline numerous processes. This crucial step will further strengthen the protection of Oak Capital clients’ data

                    Streamlined Operations Integration with HubSpot’s API and other key systems will streamline our operations. This integration aims to reduce manual tasks, improve data accuracy, and enhance overall efficiency.

                    Go-Live

                    We are targeting a go-live in Q4 2024. The go-live phase is critical to ensure that the new system is fully operational and integrated into our daily processes. Leading up to the go-live date, our team will conduct thorough testing to identify and resolve any potential issues.

                    Additionally, we will engage in parallel runs to compare the outputs of the new system with our existing processes, monitoring consistency and accuracy. Once we are confident in the system’s performance, we will proceed with the final transition, aiming for a seamless and efficient switch-over. Our goal is to minimise any disruption to our services and ensure a smooth transition for both our team and our clients.

                    Ongoing Support

                    Post-implementation, we will have dedicated support from finPOWER to address any issues and ensure the system continues to meet our evolving needs. This includes ongoing software updates and support for any additional customisation required.

                    Looking Ahead

                    The move to finPOWER’s loan management system is a significant milestone for Oak Capital. It underscores our commitment to innovation and excellence, ensuring we remain competitive within the industry. By embracing this advanced, secure, and automated system, we are well-positioned to enhance our service delivery, streamline operations, and drive future growth.

                    In 2025, we aim to develop dedicated portals for our investors, borrowers, and brokers to further enhance their experience.

                    Investor Portal This portal will provide tools for investing into new loans, tracking investments, accessing statements, and viewing performance analytics, offering greater transparency and ease.

                    Borrower Portal The borrower portal will simplify loan management, allowing borrowers to view loan details, make payments, and access support resources conveniently.

                    Broker Portal Our broker portal will streamline the loan origination process, enabling brokers to submit and track applications, manage client interactions, and receive deal updates efficiently.

                    We are confident that this partnership with finPOWER will bring substantial benefits to our organisation and our clients. This collaboration will enable us to offer enhanced service and solutions, improving overall client experience and satisfaction. Stay tuned for more updates as we progress with the implementation and move closer to our go-live date.

                    For more information, feel free to reach out to our team at Oak Capital.

                    This communication is prepared and issued by Oak Capital group representing Oak Capital Mortgage Fund Ltd ABN 51 161 407 058 AFSL 438659, ARSN 166 411 463 and Oak Capital Wholesale Fund Pty Ltd ABN 45 622 106 692 AFSL 506255. The information, opinions and other materials appearing in this communication are of a general nature only and shall not be construed as financial product advice. To the extent that any statement constitutes financial product advice, that advice is general advice only and has been prepared without considering your objectives, financial situation or needs. You should, before deciding to acquire or to continue to hold an interest, consider the appropriateness of the advice having regard to your objectives, financial situation or needs.