Paragon Bank has partnered with Alfa to implement a new Commercial Lending Transformation Programme, replacing its legacy systems with the Alfa Systems platform. The initiative aims to streamline Paragon’s end-to-end lending process, enhance operational efficiency, and broaden its SME lending portfolio.
Paragon will utilise Alfa’s accelerated Alfa Start delivery methodology, enabling a full system implementation within 24 weeks. The new platform is expected to enhance the bank’s ability to respond to market demands, improve customer and broker experiences, and optimise operational processes through automation.
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John Phillipou, Managing Director of SME Lending at Paragon Bank and Chair of the Finance & Leasing Association, highlighted the strategic importance of the project: “This new system will enable us to enhance our offering, improve our efficiency and provide a seamless journey for our customers.”
Andrew Denton, CEO of Alfa, commented on the partnership: “With Alfa Systems, Paragon will benefit from a SaaS solution that delivers efficiency and functional depth. The rapid implementation through Alfa Start ensures a cost-effective transition, and we look forward to supporting Paragon’s continued success.”
Beyond its core asset finance operations, Paragon plans to integrate its aviation finance and professions lending businesses onto the Alfa Systems platform following its go-live date in mid-2025.
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