LONDON--(BUSINESS WIRE)--September 16th, 2010
Sword Apak’s wholesale finance system (WFSv6) has gone live at Mercedes Benz Financial Services France, a subsidiary of Daimler Financial Services AG. The launch marks a significant achievement for one of the world’s leading floorplanning systems providers and will be followed by a series of planned implementations in further European countries.
The successful installation of WFSv6 is the first ‘live’ implementation of Daimler Financial Services’ (DFS) groundbreaking Global Products, Processes and Systems (GPS) program. Viewed as a critical component of Daimler’s ‘GPS Wholesale’ strategy, Sword Apak’s implementation of WFSv6 for Mercedes Benz Financial Services France (MBFS) is considered a major milestone as well as an important measure of the project’s progress to date.
Tony Allen, Business Unit Director for Sword Apak, commented. “Sword Apak takes great pride in its role and responsibility for supporting Daimler Financial Services’ Wholesale Finance strategy by developing and implementing a truly global, unified end to end wholesale finance solution”. Allen added: “So we are of course very pleased to announce the first DFS implementation to go live at Mercedes Benz Financial Services France, and look forward to completing further European installations”.
By working as a partnership, the Daimler and Sword Apak teams have delivered a global wholesale finance template that will support the business partners, dealers and internal processes of DFS, and importantly can be implemented across DFS subsidiaries with only minor localizations. Daimler Financial Services is a leading provider in the financial services industry offering tailor-made leasing and financing solutions to promote vehicle sales of the Daimler Group’s international brands. With a comprehensive product portfolio including financing, leasing, insurance concepts and fleet management services, Daimler Financial Services is responsible for a contract volume of €60 billion.
WFSv6 is a fully integrated, web native application that will support wholesale finance products, including new, used, demo funding as well as dealer loans and current accounts. Dealers at MBFS France will have online access to remotely manage and maintain their accounts.
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About Sword Apak
Sword Apak (part of the Sword Group (NYSE Euronext: FR0004180578 SWP) has over 30 years’ experience of providing specialist financial systems for the asset based finance sector. Supporting over 6000 dealers in more than 20 countries, Sword Apak’s global floorplanning software is used by major financial institutions, processing $20 billion worth of direct debits and credits each year through its hosted systems technology.
For further information, please visit www.sword-apak.com