Westpac taps Dancerace for invoice financing solution

Westpac Banking Corporation, a prominent player in the Australian banking sector, has unveiled an innovative collaboration with software company Dancerace aimed at optimising its invoice finance operations. This strategic partnership seeks to leverage Dancerace’s cutting-edge technology to streamline processes, ultimately facilitating faster cash flow for Australian businesses grappling with unpaid invoices.

Based in Bath, UK, Dancerace specialises in providing software solutions tailored for the factoring, invoice discounting, trade finance, and asset-based finance sectors. The partnership will see Westpac integrate Dancerace’s advanced technology, including the c3Backoffice Control, f3 Client Onboarding, and e3 Client Access software systems, into its lending infrastructure.

According to Dancerace, this integration marks a significant upgrade for Westpac, promising to simplify and streamline the entire lending process – from application to approval and settlement. By introducing automation into its operations, Westpac aims to enhance the efficiency and effectiveness of its finance facilities management, ultimately delivering a superior experience to its customers.

Alexis Barresi, Head of APAC Operations at Dancerace, expressed enthusiasm about the partnership, emphasising its validation of Dancerace’s ambitious vision for lending technology. Barresi underscored the transformative potential of Dancerace’s solutions in revolutionising traditional banking practices, heralding a new era of efficiency and innovation in the finance industry.

The collaboration between Westpac and Dancerace underscores the growing trend of financial institutions embracing technological advancements to meet the evolving needs of businesses and consumers. By harnessing the power of advanced software solutions, Westpac aims to empower Australian businesses by providing them with faster access to working capital, thereby driving growth and fostering economic resilience.

As the financial landscape continues to evolve, partnerships like this serve as a testament to the importance of innovation and collaboration in driving positive change within the banking industry. With Dancerace’s expertise in lending technology and Westpac’s commitment to delivering exceptional customer experiences, this partnership is poised to redefine the future of invoice finance operations in Australia, setting a new standard for efficiency, reliability, and innovation in the sector.