1-888-747-RYZN (7996)See if we're a fit

Consumer Rentals

Dec 2016 by Joelle Ascher in Blog

Consumer Rentals

A Toronto lessor providing lease rental contracts for residential heating, cooling, and water systems selects a Ryznware™ consumer lease configuration that includes billing, EFT-PAP integration, Securitization and additional customized integration for participating billing.

With a growing portfolio of consumer leases originating from a network of dealers across the country, this lessor was currently outsourcing all their lease portfolio funding and servicing activities to an external financial services party.

The decision to bring in all lease portfolio activities in house will not only yield a rapid return on the Ryznware™ software investment from outsourced cost savings, but will also provide the lessor with full control and visibility of the entire consumer lease portfolio giving the lessor the ability to promptly and accurately respond to dealer, customer and funder inquiries in a real time environment.

One of the biggest challenges the lessor currently faces is in tracking the various lease ownership status and accounting of servicing fees chargebacks that flow between lessor to dealer and external funder back to the lessor. The Ryznware™ leasing software solution will address this challenge as well as provide the normal funding, servicing and collection activities that is required throughout the lease rental contract life cycle. The Ryznware™ leasing solution is based on a core lease configuration that includes dealer, funding source, lessee and co-lessee profiles, lease rental contract setup with equipment asset details, transaction processing, as well as various types of restructures, early and post-term buyouts. Additional modules will be provided to automate and manage the Enbridge Energy Gas billing participation where applicable, pre-authorized payment (PAP) integration for automated receipt and return posting and a Securitization module for managing external funder receivables tranche sales and chargebacks.

The Ryznware™ extensive lease management system combined with Ryzn’s proven success record for complex and customized implementations will also involve data migration with a complete lease history rebuild providing this lessor with the total portfolio visibility and control needed for sustaining future growth and setting strategic policies.


Have a Quick Question?

Whatever the scope of your unique asset finance activities, Ryznware™ software solutions can provide your business with many tangible and real benefits with one all-inclusive and affordable monthly payment.

Want to know more?

Request a callback to discuss which custom loan & lease management software will suit your business: