Toronto, ON, Canada – March 14, 2014: Portfolio+ Inc. is pleased to announce that First Access Funding Corporation ("First Access") is adopting Portfolio Plus Collector to enable efficient business growth.
"Using Portfolio Plus Collector, we can increase our loan funding without the need to hire more staff to manage collections," said David Ballantine, CEO of First Access. "Collector also helps us ensure we meet compliance requirements in each province we expand our business to."
Collector is used by over 100 customers worldwide who have seen arrears decrease by as much as 60% and a return on their investment in as little as three months.
"We're seeing a lot of momentum with Collector as growth-oriented credit companies realize that the collections area of their business is relatively easy to automate," said G. Robert Leeming, President of Portfolio+ Inc.. "It's been a pleasure to work with First Access Funding as they strive to grow as efficiently as possible."
First Access is a privately held finance company that specializes in originating and servicing non-prime auto loans. Headquartered in Edmonton, Alberta, First Access has been providing Western Canada with non-traditional auto financing since 2012.
First Access helps finance borrowers that need a vehicle and help establishing or reestablishing their credit. The company works alongside customers for the life of their loans and prides itself on the number of individuals it has helped through providing alternative credit options.
The non-prime market is growing in Canada. An increase in new workers to the country, coupled with young Canadian buyers entering the marketplace for the first time and Canadians struggling in a tough economy, are increasing the demand for non-prime automobile loans. First Access thought Canada could use a new non-prime vehicle finance company, and it has been responsibly financing automobile purchases since June 2012. It is still new to the marketplace, but has already granted numerous loans to customers requiring a non-traditional option.
First Access may be small, but it’s also flexible, efficient, and growing. The company prides itself on acting with common sense. First Access listens and is always open to feedback and suggestions from its dealership partners, its customers, and its employees.
Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its software solutions and open banking technology are used by financial institutions in Canada, Ireland, and the UK. With its powerful +Open Banking Platform and fully documented APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with an evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.
Located in the Greater Toronto Area (GTA), Portfolio+ is used by 6 of the 7 largest financial institutions in Canada and is a part of Volaris Group Inc.