RedZed

“Olympic runners don’t wear thongs” – Managing Director, RedZed

Olympic runners don’t wear thongs

While Australia’s residential and commercial lending space becomes more crowded, competitive, and technologically complex – RedZed Lending Solutions had seen consistent growth and change. The lender’s expansion began to outpace its technology infrastructure, which drove the company to seek a data-rich solution that’s scalable and flexible.

Like many industries, the financial sector has undergone significant digital transformation, unlocking new platforms and services that provide convenience to staff, brokers, and customers. RedZed Lending Solutions aimed to disrupt this competitive marketplace by becoming the first mortgage lender in the world to implement SAP Cloud for Banking.

Growing with intelligence and confidence

This implementation underpins RedZed Lending Solutions’ shift towards a data-driven organisation fit for continued growth. After all, Olympic runners don’t wear thongs. The lender wants to be the largest provider of financial services for the self-employed in Australia – bigger than the Big Four’s business banks. RedZed Lending Solutions has huge ambitions – in the near term it wants to increase its loan book to $10 billion. In order to do this, RedZed Lending Solutions needs a world class system that will match its vision and enable the lender to scale.

SAP Cloud for Banking’s robust infrastructure provides RedZed Lending Solutions with the peace of mind that it will have a strong technology platform that will support its continued growth. Furthermore, the software meets the rigorous contractual, regulatory, and cybersecurity frameworks that underpin the financial services sector in Australia.

RedZed Lending Solutions teamed up with SAP due to the solution provider’s ongoing investment in technological research and development. This history of innovation was exemplified through the ease of SAP Cloud for Banking’s implementation and its intuitive interface. Built on an open cloud-based platform with API driven architecture, the platform was designed as an Australian model bank to meet regulatory requirements and ensure users remain productive, proactive, and compliant.

The speed, agility, and scale of the platform allows RedZed Lending Solutions to provide a unique and engaging experience for users, whether its staff members accessing critical customer data, brokers connecting with potential clients, or customers searching for products and services.

A robust suite of solutions

SAP Cloud for Banking comprises of SAP S/4HANA Finance, SAP Banking (Loan and Deposits), and SAP Payments Engine, which runs on SAP Cloud, is managed by SAP Cloud Application Services, and hosted on Amazon Web Services.

Through this comprehensive suite of solutions, RedZed Lending Solutions’s team can operate with more agility, security, and intelligence than ever before. The open and secure platform has improved operational management with access to real-time data that informs decision making and helps the lender be more proactive in how it assists customers.

The new platform has also enabled staff to realise value quickly by providing accurate data that is improving their relationship with customers and partners. This data also means RedZed Lending Solutions’ senior management team are equipped with real-time updates on business performance and can respond to the needs of investors and regulators as and when required.

Having a centralised platform that is accessible and accurate has improved the user experience across all business touchpoints – staff, brokers, and customers. With vital customer data readily available, process times have been reduced, enabling quick and timely responses to customer enquiries or market changes.

The support of SAP Cloud for Banking makes it easier for RedZed Lending Solutions to connect with prospective customers, streamline its processes, and redefine the way it connects with staff and customers. RedZed Lending Solutions’ goal to grow its loan book and become the largest financial-service provider to self-employed Australians is more attainable with SAP at the digital heart of the organisation.

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