Syscap has changed its name to Wesleyan Bank to unify the company’s operations under one brand and offer a simplified customer experience. The move, which takes effect from today, follows the success of Wesleyan Bank since its acquisition of Syscap in February 2015 which has seen the company double its net lending to UK businesses.
Wesleyan Bank offers specialist commercial finance solutions to UK SMEs, professions and IT vendors and resellers. These comprise tailored short, medium and long-term loans to cover investments in IT and associated services, specialist equipment, cash flow expenditure, partner equity loans, business acquisitions and commercial mortgages.
Steve Deutsch, Chief Executive of Wesleyan Bank, comments, “The rebrand underpins our strategic growth plans to fund more business directly from Wesleyan Bank and provide a broader range of flexible finance solutions within our chosen markets.
“Whilst we have been working as one team for some time now, the decision to unify our operations under a single identity has been welcomed by our customers, vendor partners and staff alike.”
As a subsidiary of specialist financial services mutual Wesleyan Assurance Society which has £7 billion of assets under management, Wesleyan Bank can offer more comprehensive products and services to the vendor channel. This includes traditional end user sales finance to overcome budget objections and drive other buyer behaviour, from transitioning to Software-as-a-Service models or encouraging customers to lock into longer term support and maintenance contracts.
Wesleyan Bank can also help vendors to grow their own businesses through its extensive range of funding, credit and direct management solutions to support their working capital, in addition to providing complementary commercial insurance and protection products.
Deutsch adds, “These positive changes will enable us to hit the ground running in 2018 which promises to be an exciting year for Wesleyan Bank. But more importantly, as a stronger combined business, we are better equipped than ever to offer enhanced solutions and digital services that are tailored to the needs of our customers.
“With a clear understanding of the unique challenges and opportunities facing the vendor community, we are ideally positioned to provide an unrivalled depth of industry knowledge and support to our partners and their resellers to achieve profitable growth.”
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