SaaScada has announced the renewal of its partnership with NEXA in order to automate the development of accurate and timely financial reporting. Following this announcement, NEXA’s platform will continue to connect building societies with independent residential property developers in order to ensure that borrowers can secure funding at a fair price.

By adopting the SaaScada platform, NEXA will also have the possibility to access a trusted source of truth on all financial information, aiming to save at least a day of the team’s overall time every month. In addition, both companies will continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement SaaScada is a cloud-native core banking engine that was developed in order to enable organisations and businesses to unlock trapped customer value, mitigate fraud and risk, as well as drive real-time data insights.

The company also focuses on simplifying and accelerating the process of developing new solutions and enabling their launch in a secure and fast way. NEXO focuses on providing a full service to lenders and borrowers, as well as introducing the potential risk of human error. The company also helps with the process of packaging each proposal by sourcing the deals, while supporting with legal documentation, valuations, credit assessment, financial transactions, and investment reporting as well.

As an already existing SaaScada customer, NEXA worked with the team to adapt the SaaScada core banking platform in order to automate the delivery of all financial information and reporting to building societies. This process has reduced the time spent on reporting, providing peace of mind that all figures are correct, and offering a solid foundation for data analysis to help NEXA improve its understanding of the lending book. NEXA originally intended to leverage the SaaScada platform in order to develop a lending platform that is expected to connect individual investors with property developers.

However, as shifts in the regulatory landscape needed to pivot its business model, SaaScada was able to work with NEXA to adapt its platform, as the partnership aims to design a bespoke model that worked for both teams. For the next step, NEXA is expected to expand beyond the Midlands into other areas of the UK, as well as to increase its reach and growing deal sizes to provide developers with access to the funding they need. .