Dancerace launches new system for invoice finance providers

14th May 2024

Commercial finance lending software specialist, Dancerace has announced it has launched a new risk system for invoice finances providers.

The new system is called r3 RiskOps which enables risk and operational teams to better manage client risk and work more efficiently. The system comes to market having already been deployed by Skipton Business Finance in the UK and ScotPac in Australia.

Dancerace CEO Elliot Avison said“r3 RiskOps puts client risk data into the hands of users across lending businesses – not just the credit risk team – so that client, sales, operational and finance teams can all spot opportunities and drive more value from the information in their systems. Equally importantly, we’re committed to offering r3 RiskOps at a price all lenders can afford, to help them to take on more clients and grow.” 

Neale Kant, CTO at ScotPac in Australia said “With r3 RiskOps, we were looking for an integrated risk module within our DF core that would alleviate the need for integration between systems, enhance our operating model and was more commercially attractive than other systems.

“We chose r3 for the rich roadmap of future releases, intuitive UX and feature-rich dashboards. So far, the graphical representation of trending analytics, the ease with which portfolios are created and viewed and the ability to sync notes across dancerace systems have been most valuable to us.”

Skipton Business Finance Operations Director Andrew Hill said “r3 RiskOps takes the data in our client portfolio and makes it meaningful, enabling us to see, at a glance, our highest-risk and highest-funded clients, and more. The system tells us when and why a client is ‘code-red’ for risk, which allows us to judge whether we’re comfortable to continue funding or need to investigate.

“Over time, r3 RiskOps will become the central point of truth for our lending business and be used by everybody in our operational teams, including our relationship managers, credit controllers and backoffice staff. We see the system evolving over coming years and were keen to provide feedback and help make the system the best it can be without overcomplicating it. Because that’s the best thing about r3 RiskOps: it’s so simple.”