SYDNEYJune 6, 2022 /PRNewswire/ — Appian (NASDAQ: APPN) today announced that Pepper Money, one of the leading consumer finance companies in Australia use it Appian Low-Code Platform to support its Asset Financing Origin of the loan solution, SOLANA, which allowed the company to increase its business volumes by 70%1 while improving efficiency.
This business growth was achieved by increasing the productivity of the credit and settlement team, with each member of the team now handling 53% more inquiries.2.
Pepper Money worked with Appian to develop SOLANA as a market-leading solution for creating and processing end-to-end financial applications for a wide range of asset types in consumer asset finance and Commercial and Novated Leasing.
Chief Information Officer of Pepper Money sweet steven says SOLANA has improved the asset finance application journey for staff, clients, introducers and partners.
“In addition to increasing business volumes, SOLANA’s automation of credit rules, dashboards and packaging provides our customers with an initial approval decision within minutes of submitting their applications and a third of applications are approved in less than a minute,” says Meek.
SOLANA enables introducers to create and process loan applications through an intuitive user interface with built-in controls to align with policies and support business process.
“One of the key benefits of the solution is its suite of APIs, which allows Pepper partners or introducers to interact with SOLANA from their own CRM systems to complete the entire financial journey,” said Luke Thomas, Regional Vice President APAC at Appian. “This new innovation allows introducers to avoid rekeying between their own system and Pepper’s and also reduces the training required for their staff.”
The digital journey provided by SOLANA is further enhanced with electronic documentation and electronic signature capabilities.
Using Appian’s low-code platform to build SOLANA allowed Pepper Money to overhaul its business processes, increase automation, and integrate various external sources to deliver a faster, more scalable solution. .
“There has been a significant reduction in the time it takes for staff to complete their tasks, including validations and checks that help prevent errors,” says Meek. “This improvement in efficiency has led to a considerable reduction in the overtime needs of the teams, and the SLAs are still met even if the volumes processed increase.
“In addition, SOLANA’s workflow supports many previously off-system processes that were previously handled by emails and phone calls. The screens and workflows have been designed to meet the needs of each role. user in order to facilitate their work,” he said. said.
Pepper Money has been an industry pioneer since its inception in 2000, and the company believed that partnering with Appian would provide its staff, introducers, and customers with a digital journey worthy of one of Australia and from new zealand the largest, most trusted and award-winning non-bank lenders.
According to Mr. Thomas, “SOLANA has improved internal efficiencies and enabled Pepper Money to deliver an unparalleled customer experience. Appian provided a solution that also enables Pepper Money to respond quickly to emerging market opportunities by expanding product capabilities and introducing new asset classes.
Pepper Money’s SOLANA solution was also a global finalist in the Appian Awards for Excellence in Low-Code 2022. The annual awards recognize companies leading outstanding business transformation programs with low-code technologies, with SOLANA being recognized for disrupting its market, serving as a catalyst for a new normal in the way work is done.
Appian is the unified platform for change. We accelerate our customers’ businesses by discovering, designing and automating their most important processes. The Appian Low-Code Platform combines the key features needed to accelerate work, Process Mining + Workflow + Automation, into a unified low-code platform. Appian is an open, enterprise-grade solution trusted by industry leaders. For more information, please visit: https://appian.com/
About Pepper Money
Pepper Money is Australia and from new zealand non-banking leader. It was established in 2000 as a residential real estate lender specializing in Australia with a focus on providing innovative home loan solutions to customers underserved by traditional lenders. Today, Pepper Money offers a wide range of residential real estate lending, asset finance, commercial real estate and novated lease products in Australia and residential real estate loans in New Zealand. For more information, visit www.pepper.com.au
1 Based on previous comparative period (PCP) CY2021 vs. CY2020
2 Applications assessed by loan officer Q4 CY2021 versus Q4 CY2020
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