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Allied Irish Bank migrates receivables operations to HPD LendScape

By Sunniva Kolostyak

November 16, 2020

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Allied Irish Bank (AIB) has announced the migration of its receivables finance operations to a fully cloud-hosted platform with secured lending software vendor HPD LendScape.

The move to cloud means AIB will be able to scale its offerings with ease and improve its funding options to small and medium-sized enterprises (SMEs) during the pandemic while taking another step towards future-proofing its IT infrastructure.

As well as hosting AIB’s entire UK and Republic of Ireland receivables finance platforms, HPD LendScape has also completed a major software update to AIB’s LendScape solution to provide a one-stop package of receivables finance features, including a new web portal for AIB’s SME customers that enhances user experience and the bank’s ability to offer funding.

Allied Irish Bank migrates receivables finance operations to HPD LendScapeThe migration is aligned with AIB’s cloud and digital transformation roadmap and has been completed within a wider context of the pandemic shifting banks’ priorities regarding digital redevelopment projects.

David Avery, Head of Allied Irish Bank Commercial Finance, commented: “Completing this exercise is an important initiative for AIB. Having our receivables finance business operating on a hosted cloud platform means our customers now have a better, more seamless way of accessing funding, boosts our efficiency in this area, helps to expand the range of services we can offer and enables us to be more agile.”

AIB has run the LendScape solution on-premises since 2007 but has been an HPD LendScape client since 1988.

Kevin Day, CEO of HPD LendScape, said: “We’re thrilled to have worked together with AIB on this platform migration. AIB is one of our most longstanding customers, and this project required extremely close collaboration between the technical and business functions on both sides.

“Most importantly, this project demonstrates that large scale migration of major bank receivables finance functions can be completed successfully at low risk and will enable AIB to provide improved access to finance for UK and Irish businesses, which is much needed in these difficult economic times.”

The Central Bank of Ireland identified earlier this year that many Irish SMEs would not be in a position to meet a collective multi-billion Euro liquidity need from their internal resources, existing credit lines and new bank lending without additional support.

Invoice finance, along with wider bank support and government initiatives, is one major route to this liquidity, with total invoice finance volumes in Ireland reaching €28.6 billion last year.

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