Cynergy Business Finance selects Dancerace to power their new asset based lending services
Cynergy Business Finance, the specialist bank for business owners, has chosen Dancerace’s asset based lending operating system to power their newly-launched receivables finance products.
Managing director Edward Winterton and his new team will use Dancerace’s back office control, client access, open accounting and API systems to provide a truly client focused Asset Based Lending (ABL) proposition to UK SME’s, with a funding need from £200k to £20m. Products within the current ABL suite include invoice discounting, factoring, plant and machinery, inventory, cashflow and short-term property finance.
Cynergy Business Finance team members already have extensive experience of working with Dancerace at other lenders and chose the Dancerace operating system for its trusted mix of best-in-class usability, bank-grade security and cloud-hosted reliability.
The two teams have collaborated closely in system discovery and implementation, as part of a ‘one team’ approach to ensure rapid system delivery, expert-led training, maximum operational efficiency and ongoing system support is achieved.
Cynergy Business Finance will take full advantage of advanced system features like open accounting connectivity, automated ledger extracts and API connectivity to third-party providers, to offer an easy-to-use, digitally-enabled service for clients.
“Dancerace is perfectly aligned with our mission to reduce complexity in business finance and to better serve the personal needs of business owners,” says Cynergy Business Finance managing director Edward Winterton.
“Having seen the evolution of Dancerace’s systems over many years, our team is looking forward to working with Dancerace with the launch of our new asset based lending products!”
