TurnKey Lender, a provider of cloud-based lending automation and credit decisioning software, has announced the partnership with Hewlett Packard Enterprise. TurnKey Lender will collaborate with HP to deliver its software on HPE ProLiant for Microsoft Azure stack, a hybrid cloud platform to improve opportunities for small and medium lending businesses.
The partnership is derived from the hugely successful initial benchmark test at HPE’s Customer Technology Centre in Singapore. HPE ProLiant for Microsoft Azure stack is an integrated Microsoft Azure hybrid cloud that incorporates compute, storage, and networking, enabling user to run Azure services on-premises for clients’ convenience.
Increasing lenders’ efficiency and improving accuracy in credit decisioning is a vital aspect of the partnership. The improved automation with predictive analytics and leveraged access to additional data sources via APIs will result in better yields and a stronger revenue stream for lenders specializing in consumer lending, microfinance, auto loans, mortgages, SME loans, in-house financing, P2P, mobile lending, and other types of lending operations.
“With the rapid growth of microlending and continuous global efforts in financial inclusion, lenders are relying on FinTech to provide safe and solid infrastructure for lending businesses of all sizes flexible enough to be ready to scale up and reassess at a moments notice seamlessly. The partnership between TurnKey Lender and Hewlett Packard Enterprise is created to achieve that goal,” says Dmitry Voronenko, CEO of TurnKey Lender, commenting on the deal.
“With HPE ProLiant for Microsoft Azure Stack, lenders can process large amounts of data with little to no latency. Should their workload require the public cloud resources, the solution seamlessly integrates with Microsoft Azure public cloud, creating a true hybrid cloud experience,” comments Kong Hoe Chan, Solution Sales General Manager at Hewlett Packard Enterprise’s Asia Pacific hub.
In Mr. Chan’s opinion, the partnership would sharpen HP’s competitive edge for years to come: “Large financial and telecom organizations are under pressure to gain competitiveness, and are looking to utilize new technologies that drive customer loyalty and revenue growth while simultaneously reducing cost.”
TurnKey Lender was founded in 2014 by Dmitry Voronenko, PhD., a serial entrepreneur, computer scientist and software developer with almost twenty years of experience in FinTech. TurnKey Lender offers an open, fully integrated, and completely secure end-to-end lending solution for automating risk assessment and credit scoring. The software services the entire life cycle of a loan from application processing to loan origination, payment history monitoring, collections, and reporting.