Why did you create Basikon? Where the idea comes from?

It is to provide an offer simple to install and fully customizable thanks to the agility of workflows. Everything is workflow, everything is API, everything is portal, the main point of the offer is to have basic bricks and to adapt the data model to all the customer's needs.

What is the point of a universal platform capable of managing both credit and leasing?

Some banking software vendors have chosen to specialise in credit, leasing and so on. We decided to create a platform that could handle all types of financial products, because we believe that they have more in common than you might think from a technical and process point of view.

The advantage of this approach is to allow our clients to use a single interface to offer different types of financial instruments at the same time. An example: automotive assets, can be financed by pure credit, as well as by leasing or by long-term rental, so there is a real need for a multi-product platform. With our tool, financial captives can show their customers a comparison of the cost of the same vehicle, considering several financial products.

In the case of leasing, they can also use the same interface to address their private customers, their corporate customers who need to finance their fleet, and their distribution partners who need credit lines to manage their stocks. No need to have several platforms, one for retail, one for corporate and one for wholesale.

We offer the client the guarantee that even if his business evolves and he intends to diversify his offer by introducing other financial products, he will always find in Basikon the capacity to support these new use cases.

In addition, we are seeing more and more hybrid products, called leasing or rental, but operating as a credit. Moreover, the world of financing is constantly changing, just look at the emergence of BNPL (Buy now Pay Later), RBF (Revenue-Based Financing), etc. The problem with an IT focused on a type of financing is to be able to respond to the market evolutions, and not just to know how to deal with the current situation.

At first glance, it may seem conflicting to offer a platform capable of managing both BNPL payments in 4 instalments and 25-year mortgages. What do you think?

We agree that in both cases the pricing, periods and risks are totally different. The conditions and the scoring process are not as strict, not to mention the associated volume constraints.

And yet, these two modes of financing have much in common in the way they are managed internally by the funders, from client onboarding to monthly instalments. Their workflows are orchestrated in a similar way: in both cases, there are processes for collecting customer information, KYC and scoring (albeit with varying degrees of complexity), decision making, financial calculation of monthly payments, payment management, payment follow-up (debt collection), etc.

Full ownership of the process by the customer who can take control at any time.

More broadly, we realise that the financing business, whatever the product (loan or lease), is increasingly structured via brokers, distributors, dealers or agents who handle distribution in exchange of high variability commissions. Consumer lending, leasing, motor finance and revolving credit cards, for example, have largely been based on this model. A tool that is not 100% configurable in terms of payment schedules, commissions and, of course, client acquisition and management processes is a major disadvantage for the financial services company.

Finally, if a dealer wants to offer financing to his customers, he also requires stock financing, which is in essence very different in its operation. We see the same thing in consumer lending with a retailer for financing his business and his growth. So, let's stop the increasing number of tools!

Our ready-to-use, 100% configurable platform is capable of handling all these types of use cases, combining them for clients who need a multi-product tool, but also introducing new ones as they appear on the market.

For our customers, this means greater simplicity, efficiency and also TCO (Total Cost of Ownership) benefits, as the technical resources and costs required to run the platform are shared and pooled within the organisation.

You say that teams from organisations offering several types of funding can use the same platform, but do they also share the same databases, the same processes?

Although the teams share the same technical resources, when they use the platform, they see different things on their screens depending whether they are dealing with loans, leasing or any other type of financing.

A Chinese wall between the businesses

Indeed, our tool is equipped with a service centre that allows us to adapt the interface to each type of business, so that each one is completely independent, has its own processes and dedicated view on the data.

Of course, we adapt to the requirements of our customers. There may be a few master users in some cases who need to see everything or consolidate everything for reporting or accounting purposes.

Is your tool only for French customers or can it also be deployed worldwide?

Competition is global. A tool that is not designed to adapt to each country necessarily has a very short life span. Our first client was in Africa, the second in France and the third in Switzerland.

Basikon was designed to think international from the beginning.

We have already had a situation where a customer has several subsidiaries in different countries and therefore needs a multi-country tool. Our tool can handle this natively.

Afterwards, we have to manage the RGPD and its equivalent in each non-European country, and we manage the localisation of the database accordingly.

In this case, what about regulatory differences?

National regulations result in calculation and display constraints to protect the consumer (Lagarde law, APR, etc.), reporting, different taxation, and often control and compliance constraints.

Only the flexibility of the tool makes it easy to manage national regulations.

We handle these regulatory differences with great efficiency. This is thanks to the flexibility of our workflow and its low code, which is particularly easy to deploy, the adaptability of our calculation engine, and our non-SQL data model, which greatly facilitates the extraction of reports.

A 100% configurable tool like Basikon ensures the ability to support different products and countries with the same platform, and thus to diversify the offer and to expand internationally very quickly. Should you require further information : Enquire !