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Marquis Finance engages Principa software to provide competitive risk-based pricing offers in vehicle finance.

November 2, 2020 at 4:14 PM

Principa Decisions (Pty) Ltd.

 

 

Members of the Media 

Press Release | For immediate release

2 November 2020

 

Marquis Finance engages Principa software to provide competitive risk-based pricing offers in vehicle finance.

Cape Town, South Africa: In September 2020 Marquis Finance, a new player in the competitive South African vehicle finance lending space, went live with a fully digital onboarding platform. Key to Marquis’ strategy is the adoption of Principa’s FinSmart for digital onboarding and loans management.

Principa’s FinSmart platform, comprising of DecisionSmart (business rules management system), BridgeSmart (data orchestration layer and API hub) and Financier (loans management and originations) was deployed to enable effective onboarding and account management.

Principa’s software was created in order to reduce risk and improve profitability by streamlining processes, increasing efficiency, and automating data-driven decision making across the credit and loans lifecycle.

A unique solution for Marquis Finance

All of Marquis’ applications are captured at the dealership through dealership management systems and then sent through to Principa’s FinSmart. Applications are then processed and sent back-and-forth between Marquis and the dealership. Over 2 000 decision points with seven different external data calls are used throughout the process to ensure that Marquis can make competitive risk-based pricing offers on each deal.

Of the recent collaboration, Jaco Rossouw, CEO of Principa commented; “Marquis, SA’s youngest, highly innovative and fully digital Vehicle Finance provider has leveraged off the flexibility and depth of Principa’s credit suite, FinSmart, to enable them to offer a fully digitised, competitive credit product, to the South African consumer. We thank Marquis for trusting in Principa and we are very proud to be an integral part of the Marquis story. We look forward to their ongoing growth and success in the years to come!”

Andrew Marshall, CEO of Marquis further noted; “Marquis’ ambition was not simply to launch as a new lender in the South African market, but instead to present a highly competitive offer to the customers and dealers competing with the best-of-the-best from day one. In being fully digital, we can be leaner than some of the bigger players, who still have the hangover of legacy systems and highly operational processes. Our partnership with Principa and adopting their FinSmart software have been critical in being able to achieve all of this and we look forward to continuing to develop our healthy relationship as we flourish as a business.”

 

About Principa: [DATA ANALYTICS EXPERTS] At Principa we develop data analytics products and solutions that derive answers, predictions and recommended actions from large and complex data sets. We are experts in using data insights to predict human behaviour and drive the optimal outcome: We take data, organise it into information, interpret the data and draw insights to give you a better understanding of your current situation. We then apply our knowledge and experience to help you make decisions and develop strategies that improve or change your situation. Talk to us today! [https://www.principa.co.za/]

 

About Marquis:

Offering a better way, more efficient way to offer vehicle finance. Our team has drawn on over 100 collective years of experience in the vehicle finance sector. We identified some industry shortcomings, listened to your pressing needs, and responded through the establishment of Marquis Finance.

 

 

[ENDS]

 

Thomas Maydon
Thomas Maydon
Thomas Maydon is the Head of Credit Solutions at Principa. With over 17 years of experience in the Southern African, West African and Middle Eastern retail credit markets, Tom has primarily been involved in consulting, analytics, credit bureau and predictive modelling services. He has experience in all aspects of the credit life cycle (in multiple industries) including intelligent prospecting, originations, strategy simulation, affordability analysis, behavioural modelling, pricing analysis, collections processes, and provisions (including Basel II) and profitability calculations.

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