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Tuesday, January 10, 2017

BMW Group Financial Services launch Pan-European technology program with Sword Apak

BMW Group Financial Services launch Pan-European technology program with Sword Apak

The globalisation of the automotive and financial services industries remains a key priority for many businesses to create consistent brand and operating standards.

BMW Group Financial Services (BMW FS) is proud to be in the vanguard of this approach with its iDEAL Program (Integrated Delivery of a European Application Landscape). In early November 2016, the business successfully launched the first market rollout of the program.

The planned harmonisation of BMW FS’s European core operating systems under the iDEAL program is designed to integrate three key modules: Commercial Finance (CF), (Dealer) Front-End and the Contract Management System (Retail Lease & Loan). The first component has been the Pan-European delivery of Sword Apak’s award winning Wholesale Finance Floorplanning System (WFS) for CF.

Achieving the first milestone in any major change program is essential; by delivering WFS on time and on budget, Sword Apak will help to continue to shape the following rollouts and phases of the program. Following a rigorous selection process, Sword Apak was selected to support the CF core element of the iDEAL Program, due to their proven experience in providing state-of-the-art wholesale floorplan financing solutions on a single platform that work seamlessly across multiple geographies.

“iDEAL has the ambitious strategy to create standard operating solutions across BMW FS in Europe. In such a bold undertaking, it is always important to get off to a great start,” comments Axel Frank, IT-Project Lead, BMW FS for CF.

“The fact that WFS has a proven track record across different geographies made it a natural candidate to select it and kick start with WFS the wider iDEAL program. The technical and project management expertise that Sword Apak has brought to the rollout has been invaluable.”

Since the successful launch of WFS for both the UK and the Republic of Ireland markets of BMW FS, WFS is now being utilised by 1,143 BMW FS users and has been made available to over 260 BMW Group and ALPHERA retailers and dealer partners.

The complexity of the project required the migration of 354 retailers, 1,416 credit lines and 63,415 existing loans. The entire process was facilitated by Sword Apak’s industry pioneering API integration layer, which allows connection to 13 surrounding systems.

“BMW FS allowed us to play a very active part within its fantastic team; happy to learn from our expertise in other Pan-European and indeed global applications,” comments James Powell, Executive Vice President, Sword Apak, “They welcomed our expertise on both the technical and cultural challenges that such a program faces and we gained new insights on the emerging challenges facing captives of OEMs in what is a truly dynamic global market. We are proud to have partnered with BMW FS to hit their first major milestone on schedule; now we are gearing up to accelerate delivery to even more roll outs.”

About BMW Group Financial Services

BMW Group Financial Services is one of the leading financial service providers in the automotive sector.

Around 8,000 employees partner with our sales and retail organisation to serve customers worldwide.

BMW Group Financial Services has a portfolio of more than 4 million lease and credit financing contracts and is operating in more than 50 countries.

The main business activities are financing and leasing of BMW Group automobiles and motorcycles for retail and commercial customers.

Its fleet management the financing business operates under the Alphabet brand.

BMW Group Financial Services also offers customers selected insurance and banking products.

In this way, BMW Group Financial Services plays an important role in strengthening the BMW Group’s focus on customers and solutions.

 

About Sword Apak

Sword Apak (part of the Sword Group) has over 35 years’ experience of providing specialist financial systems to the global asset finance and banking sectors. Our products have been designed by in-house financial software specialists, utilizing their extensive knowledge and long-term experience of working within the financial services industry. Our specialist teams work with business and IT leaders to help translate their strategic business agendas into IT initiatives and solutions that measurably improve performance.

Press Contact: natalie.sweet@sword-apak.com