News .

New banner machine-learningMany financial institutes use scoring models to lower credit risk in credit appraisals, and in the granting and supervision of credit. Credit scoring models based on classical statistical theories are widely used. However, these models are less resilient when it comes to large amounts of data input; as a consequence, some of the assumptions in the classical statistics analysis fail. This influences the accuracy of prediction and of model generalizations. In this blog post, we will explain how machine learning can be used in credit scoring to achieve a more accurate scoring from large amounts of data.

Watch our new video to learn how Emric uses big data to help banks secure clients they usually miss out on.

As societies and technologies evolve, there is a need for a new type of credit scoring. With Emric alternative scoring, it’s finally possible to give a credit score to expats, freelancers & graduates.

Nothing like a hackathon to end the year with a spark of innovation! 11 teams joined the xmas edition of Emric LabDay hackathon. For the first time an international team gathered members in Sweden, Serbia and Pakistan, making the most of mobile technology to collaborate across borders. Big congratulations to Bratislav Dimitrov and Stefan Andjelkovic from Belgrade for winning the Grand Prize!

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Season’s greetings from Emric

This year is soon coming to an end and it’s time for us to offer you our best wishes for 2017! It’s been an exciting year for Emric with two new product releases, new customer projects, the launch of alternative scoring, and last by not least, joining the Tieto family. We’re looking forward to the next twelve months and wish you all good health, happiness and success!

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Over the holidays one in ten Swedes are considering borrowing money to be able to pay the bills. Most affected are parents with small children, where 19% say they’re looking to take a loan. These are some of the findings from the recent Emric Loan Barometer survey.

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There is a growing consensus that blockchain technology will fundamentally change the way we think about asset financing and how banks and financial institutions operate.

For our fifth consecutive release, we are proud to introduce improvements to help you optimize your lending, leasing and analytics processes.

With a new asset finance control panel, geo-location for scoring and machine learning, and faster runtime performance for our credit rule engine, there is a lot to help you grow your business.

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The new Emric product release is coming up!

Join us on Tuesday 15 November for an evening of product news, expert sessions and gourmet food.

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It’s travelling time for Emric! Come and meet us at the upcoming LendIt and Leaseurope conferences to find out more about our Marketplace Lending, Leasing and Lending products.

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It’s time to mark your calendars for Emric next Release Event! A great chance to talk about the key trends in fintech, learn more about the content of Emric’s new release, and hear how Emric and Tieto are teaming up.

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Alternative scoring is a new advanced way for lenders to improve their credit quality and loan acceptance rates through the use of big data. Emric’s analytics software helps collect up to 500 additional data points.

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It’s a great honour that Riksbanken has chosen Emric to handle Mortgage loans for its employees. Riksbanken will utilize Emric’s Financial BPO for the Service. The Financial BPO runs Emric’s latest administration software (cLA) to maintain high quality and compliance. 

Tieto and Emric teaming up!

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OKQ8 Bank have chosen Emric’s latest algorithmic origination software (cLO) in combination with our powerful back-end product (cLA) for its new unsecured loan product.

Who are the people behind the scenes at Emric? Where do they come from? What are their dreams and aspirations? This is our Meet-the-team series, bringing you the very people who make Emric so unique!

Today we welcome Jelena Gmitrovic from our Belgrade office in Serbia.

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Earlier this week Emric released the results of its Loan Barometer Survey. Dagens industri interviewed Jonas Branväll, Product Director Emric, and ran a feature on the survey.

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Emric ran its Loan Barometer survey for the second year in a row and the results show that one in six Swedes are considering to borrow money for their summer.

At the top of the list are renovations, holidays, and new car or motorcycle. The Swedes are more likely to take a loan this year with 12 % considering it compared to 17% last summer.

In the last nine months, Emric has been upgrading its Management System to strengthen its management of risk and ensure regulatory compliance.

Seeking third-party validation, we turned to our compliance partner ZEB to audit our new system. The result just came in and we passed the audit with flying colors, confirming the strength of Emric’s internal processes to best support its customers.

Emric held its first company-wide hackathon on 28 and 29 June, giving 24 hours to staff in Stockholm, Belgrade and Kalix to dedicate themselves to innovative projects.

17 teams and 33 participants registered for what turned out to be a hackathon with a twist! The challenge was open to coders and non coders, the only requirement being to work on a new idea and demo what was achieved at the end.

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What can we learn from the first half of 2016? What are the strengths and weaknesses of the Nordic & Baltic regions? What key innovations should leasing companies embrace?

For the latest trends and figures on the Nordic & Baltic Leasing market, check out our latest whitepaper.

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Who are the people behind the scenes at Emric? Where do they come from? What are their dreams and aspirations? This is our Meet-the-team series, bringing you the very people who make Emric so unique!

Today we welcome Henrik Nordström from our Kalix office in the North of Sweden.

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Per Realtid

After six months in Emric’s Credit Science lab, we are proud to introduce our latest release! Improvements have been made on the whole portfolio, from Lending and Leasing to Analytics. Our developers have been busy looking at ways to improve user experience, incorporate social scoring and machine learning, future proof systems and achieve even faster performance.

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Emric now on Instagram!

Follow us @emric_ab to see all the latest news and snaps. There’s nothing like an average working day at Emric – always something interesting (and sometimes surprising!) happening!

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No sleep, hard work, and a great result for Emric Belgrade. Sponsored by Societe Generale and KPMG, a team of five Emric employees from the Belgrade office took part in a 48 hours FinTech hackathon.

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Emric was a proud silver partner of ITkonekt, gathering the Serbian IT community in Belgrade on 20 and 21 May.

The Emric booth was a popular stop for the IT experts and students who visited the fair.

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90% of the Serbian city Obrenovac was flooded when a massive cyclone hit Europe in May 2014. Emric decided to help and made a donation to the Foundation “Ana i Vlade Divac”.

We’re now happy to report that these funds helped two families refurbish their homes.

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As Finnish consumers move online, banks and financial services will have to follow.

Make sure to join Evolvit, Emric and Aktia on 7 June to see what we’re doing to speed up the digital transformation!

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Are you a leasing company based in Belgrade or in Serbia? Come and meet us on 25th May as Emric & Deloitte will be presenting at the Serbian Leasing Association in Belgrade.

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Who are the people behind the scenes at Emric? Where do they come from? What are their dreams and aspirations? This is our Meet-the-team series, bringing you the very people who make Emric so unique!

Today we welcome Mohammad Ali from our Stockholm office.

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Want to learn more about digitalization in the lending sector? Come and join us for a breakfast seminar in Helsinki on 7 June!

In partnership with Evolvit, we will be talking about what’s implied with digitalization, and you’ll also get to hear first-hand a customer experience from Aktia.

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The agenda has been finalized and we’re excited to invite you to the next Emric Release Event on Tuesday 31st May!

We’ll be talking user experience, compliance, machine learning, social scoring and power pricing – all essentials to help your company grow.

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On Tuesday the 31st of May we will launch our new lending and leasing release!

The agenda is under progress but we can reveal that we among other things will talk about Scoring – from social scoring to Machine Learning, UX Design as well as Compliance.

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Who are the people behind the scenes at Emric, where do they come from and what are their dreams and aspirations? With four different offices around the world; two in Sweden in very different parts of the country (Stockholm and Kalix) and the other two in Serbia and Indonesia we thought it would be interesting to take a closer look at some of our colleagues.

This time we move to Kalix and meet Christoffer Stenudd who works in the Financial BPO team.

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A recent survey conducted by Emric show that Swedish mortgage lenders are positive towards amortisation requirements  – as long as they are not personally affected.

Last week, the amortisation requirement was approved in the parliament’s finance committee. A recent survey conducted on behalf of Emric shows that a majority of the mortgage holders in Sweden are positive towards the new requirements. However, 65% of them are unsure of the impact of the new legislation.

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Today it is the 8th of March – the International Women’s Day. It is celebrated around the world as a sign of respect, appreciation and Goodwill towards women as well as a celebration for women’s economic, political and social achievements. The day has been celebrated since 1910 and we at Emric would of course like to join in the celebration!

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Curious to find out more about marketplace lending? Well here is your chance; download our whitepaper that covers the trends, challenges and advantages of marketplace lending in Europe and the Nordics.

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In a rapidly changing business environment, the importance of being equipped with the best tools the market has to offer cannot be over-emphasised. Time to market is a crucial key value that can make or break a business process.

Many financial institutes use scoring models to lower credit risk in credit appraisals, and in the granting and supervision of credit. Credit scoring models based on classical statistical theories are widely used. However, these models are less resilient when it comes to large amounts of data input; as a consequence, some of the assumptions in the classical statistics analysis fail. This influences the accuracy of prediction and of model generalizations. In this blog post, we will explain how machine learning can be used in credit scoring to achieve a more accurate scoring from large amounts of data.

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Last week we talked about why outsourcing is a smart choice in financial services – if you missed the blog post you can read it HERE!

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Every day we help dozens of clients to manage their lending and leasing transactions, and we do it well because we are truly devoted to the lending and leasing industry. Emric started offering Financial BPO back in 2005 when this was fairly new to the market. Our BPO operation is located in Kalix and since 2005 the organisation has grown steadily, today we employ 60 people and we are proud to be the fourth largest employer in Kalix.

There will always be a need for innovation and change in any business. The world is constantly changing, and in order to keep up with competition it is crucial to be able to adapt quickly to these changes.

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MyPages II

Emric’s MyPage solution offers seamless access via smartphone, tablet or laptop, this simple interface is a powerful tool in streamlining your partnership with your clients. From account creation to withdrawals and deposits. Emric’s MyPages solution is out of the box and easy to deploy.

Meet-the-team part four

Did you know that our office in Belgrade is in the second tallest building in the Balkans? It is also historical since it was previously used as headquarter for the Central Committee of the League of Communists of Yugoslavia, which broke apart in 1990. In April 1999, NATO air strikes hit the building, but despite the heavy damage, the building did not collapse and remained structurally intact. Thanks to complete renovation in 2005 the 141 meter tall building now has a redesigned glass facade and in one of the 25 floors 37 of our colleagues can be found.

Today we will meet one of them, Dusan Lazic, it is time for part four “Meet-the-team”.

Dusan 2.1 zagreb

Låt inte Trustbuddy-härvan brännmärka hela den snabbväxande peer-to-peer-sektorn. Regeringen behöver ta fram ett regelverk som skyddar både låntagare och långivare, skriver Jonas Brännvall på Emric.

Detta är ett debattinlägg av Jonas Brännvall, affärsområdeschef på Emric. Debattinlägget publicerades den 23 december 2015 på DI Digital. Länk till artikel, klicka här!

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This year is soon coming to an end and we look back at a substantive year filled with a lot of hard work and great team achievements; we have carried out several exciting customer projects both with existing and new customer, further developed our products and services with new features and launched our Emric Dasboard! We also had two product releases, on in May and one in November when we gathered our customers to show what’s new in our products.

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Meet-the-team part three

Who are the people behind the scenes at Emric, where do they come from and what are their dreams and aspirations? With four different offices around the world; two in Sweden in very different parts of the country (Stockholm and Kalix) and the other two in Serbia and Indonesia we thought it would be interesting to take a closer look at some of our colleagues.

Previously we have met two collegues from Jakarta and Kalix, this time we move to Stockholm and meet Axel Cornell who works at Emric headquarter in Stockholm.

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We are happy to announce our latest Product Release and to share some of the highlights and new functionality in our products. The release includes improvements throughout the whole Lending and Leasing portfolio.

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Brand new trend report on the Nordic Leasing Market looking at second half 2015.

The National Institute of Economic Research announced a public warning in early October that the housing market in Sweden risks collapsing. A recent survey conducted by Emric shows that this historical warning has had an effect on Swedes.

Emric AB announces that Maria Börjesson has been appointed as Operations Director and a member of Emric’s management team.

Maria Börjesson

Maria has more than 15 years of experience from Financial Services were she has been a key player in building organizations, sales channels and processes. She joins Emric from BMW Group Financial Services where she has been the COO for the Nordic operations.

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For Emric, credit science is not just a buzzword: it’s a mission statement. With our latest release of The Credit Science Dashboard we’re making our software suit stronger than ever before.

On the 17-18th of November KTH Royal Institute of Technology arrange its annual student fair THS Armada. It is one of the largest student projects at KTH and attracts not only students but also companies interested in recruiting students. One of the exhibitors are Emric and this is the first time Emric participates in the fair.

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Curious to find out more about marketplace lending? Well here is your chance; brand new whitepaper looking at the trends, challenges and advantages of marketplace lending in Europe and the Nordics.

Download your copy HERE on our web site!

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Emric AB announces that Lisa Fjaestad has been employed as the new HR Director and part of Emric’s management team. Lisa will start in her new role mid-December 2015.

Lisa Fjaestad

Lisa Fjaestad has around 13 years of experience from leading HR positions in various companies and holds a Master Degree in Human Resource Management. Her most recent employment was at Skanska where she has been the HR Business Partner for one of Skanska’s largest business areas with over 400 employees.

On Thursday the 19th of November we launch our new lending and leasing release! You are invited to join us!

Apart from going through what is new in our products we have invited one of our partners to talk about Compliance. After this there will be an opportunity to choose among four different “Meet-the-expert” seminars. There will also be some refreshments and drinks after the seminars.

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Over 80 per cent of risk managers and business area managers working at Swedish niche banks believe that the concept of peer-to-peer lending, also referred to as marketplace lending, will increase in Sweden. Half of them are open to alternative scoring models to UC, and a majority believe that the biggest growth potential is in the field of deposits. These were some of the results in a survey that Emric conducted recently in which the majority of Swedish niche banks participated.

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Hackathon Lab Day

Today the office is buzzing with energy in the Hackathon Lab Day for Credit Science!

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The aim of the Lab Day is to find new ways of using historical data and statistics extracted from our back office solutions and use them to tweak the customer offering and optimize the business.

On the 15-16th of October more than 450 senior executives from 30 countries are gathering in Cascais, Portugal to attend the Eurofinas and Leaseurope Annual Convention. The Conventions are widely recognised as the preeminent yearly gathering for the European leasing, automotive rental and consumer credit communities. They are held in parallel at the same location in order to offer a unique meeting platform for leading business players active in these sectors.

Lease Europe

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Rising levels of non-performing loans (NPLs) continue to weigh on banks’ balance sheets – in Italy NPLs have tripled since the financial crisis to 17%* of total loans, and in the CEE region NPL volume has grown to EUR 145 billion (+4% YoY)**. The performance of portfolios depends on the type, proportion, relation and reliability of assets.

Who are the people behind the scenes at Emric, where do they come from and what are their dreams and aspirations? With four different offices around the world; two in Sweden in very different parts of the country (Stockholm and Kalix) and the other two in Serbia and Indonesia we thought it would be interesting to take a closer look at some of our colleagues.

Last time we met one of our colleagues from Jakarta, Indonesia. This time we move to Kalix in the North of Sweden to meet Marianne Spegel who works for Emric Operations in Kalix.

Fritids Marianne

Original article from Asset Finance International

Emric and Xerox Financial Services are celebrating five years of mutually profitable partnership.

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In today’s competitive landscape, it is crucial to always staying ahead of competition, always delivering and always serving your customers. This could be offering a new product or a faster way of delivering customer service.

In our industry, we hear testimonies that customer loyalty is declining and customers are more open to switching bank or finance company if they receive a better offer elsewhere. This requires banks and finance companies to be creative. But how do you do that when profit might be declining, you are lacking the resources and the know-how in-house?

 

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Delivering complex IT projects on time and with quality is a challenge, and anyone who has worked in IT, or has any insight into the subject, knows that many projects fail. The project might be struggling with cost overruns, late deliveries and poor quality and at the end there is an unhappy customer and an unhappy project team. Not a good combination. Luckily, there are exceptions.

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Emric supports UNICEF

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We challenge our customers and industry peers to donate!

We believe that all children are entitled to a safe childhood, they shouldn’t have to escape from war and misery. This is the reason why we at Emric have donated SEK 25 000 to support UNICEF’s work. Together we can make a difference!

What is the status of the Nordic and Baltic Economy? How has the leasing market performed? What are the trends in the auto market?

We are pleased to share with you our latest Trend Report on the Nordic Economy and Leasing Industry, make sure you download your copy here!

Leasing whitepaper

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Hi there,
Join K2 and Emric for this breakfast seminar at the Park Inn Oslo on October 27th, 2015 and walk away with a better understanding to streamline and connect your people, processes and information to ultimately solve and make better business decisions.

Meet-the-team @ Emric

Who are the people behind the scenes at Emric, where do they come from and what are their dreams and aspirations? With four different offices around the world; two in Sweden in very different parts of the country (Stockholm and Kalix) and the other two in Serbia and Indonesia we thought it would be interesting to take a closer look at some of our colleagues.

First out is Jeremy Karyadi who is located in Jakarta, Indonesia.

Jeremy

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Emric is a product company. That means we don’t create one-off solutions or solve the same problem from scratch over and over again.

SSE FinTech

As a Stockholm based FinTech Company we’re happy to be mentioned in Stockholm School of Economics (SSE) report – An overview of the FinTech sector in the greater Stockholm Region

What would you consider ONE

Nearly 300 000 swedes are considering a consumer loan to finance their summer holidays this year and nearly 230 000 are considering borrowing money for home improvements, at the same time 220 000 swedes are thinking about borrowing money to finance a car or a motor cycle. These results are from Emric’s Loan Barometer* 2015 that was conducted recently.

User experience

For Emric, credit science is not just a buzzword: it’s a mission statement. With our latest release of cBR we’re making our software suit stronger than ever before.

1428976_47002490Emric is proud to announce a new partner, Ayond who will help us develop smart web- and mobile services to support the next generation in banking.

Leasing-4_1We bring you Application lifecycle management. With our latest release, we have made significant architectural updates to ProFinance, the target with the architecture changes is to making ProFinance leaner and more modular.

release-2015-1-bannerIn our new product release, we have focused on automation and speed. The release is filled with great new features to achieve faster, smoother and more automated credit processing to help you stay competitive in a changing market.

_R8Q4830In July 2013 Pedram Tadayon joined Emric as chief executive officer and has since then setting the company on a road-map of expansion and growth.

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When creating a user friendly interface it is important to use tabs, but in the right way, just implementing tab navigation isn’t enough. To guide us in this work we have created a tab strategy – Yes it’s really ALL ABOUT TABS this week.

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How do you create the world’s best user experience for financial professionals? When developing software for automated credit processing and analysis, we have found that by empowering the users and enable them to ask and answer complex questions you will create a much better user experience. Our 6 key UX principles guide us in this work and this week we would like to share with you principle number four – to avoid dead ends.

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The ability to quickly change and adopt products and offerings is crucial in any competitive market. Banking and financial services is no exception and there is a constant need to create flexible solutions that will give a competitive advantage and increase profits.

At the same time it is important to have the end-customer in mind and deliver something perceived as great value.

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Emric’s underlying UX principles are there to ensure that a user that moves from one system to another will quickly understand and become efficient in the new system.

Content is king

At Emric we take User Experience very seriously, we constantly strive to improve how systems serve the purpose to streamline our customer’s business. Emric systems have processed hundreds of billions SEK and is used by hundreds of people every day. This is something we are very proud of but we believe that there is always room for improvement.

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In professional software products, interface efficiency is more important than learnability. It’s worthwhile to make things slightly harder to master if efficiency can be improved. This is an important difference and opportunity compared to most modern interfaces in for example mobile apps where the user’s needs to understand the user interface instantly.

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This weekend Swedish Championships in cross skiing at senior level is arranged in Kalix. The competition is held between the 21 – 24th of March with the opening ceremony on Friday 20th of March. There will be team sprints, 30 km – and 50 km mass start as well as Swedish cup finals and youth competitions at Kalix Ski Stadium.

Emric, as one of the larger private employer in Kalix, is proud to be one of the sponsors of the event.

User experience

Today when devices outnumber people, connectivity is like oxygen and the workload is constantly growing the User Experience is becoming increasingly important. At Emric we take User Experience very seriously, we constantly strive to improve how systems serve the purpose to streamline our customer’s business. Emric systems have processed hundreds of billions SEK and is used by hundreds of people every day. This is something we are very proud of but we believe that there is always room for improvement.

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Emric is proud to launch its new Partner Training Program – Emric Academy. We provide through this program a full range of trainings from sales to technical training courses.

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In a global world it’s becoming more and more important to be local. Being multi-local usually comes with additional cost, paper work, increased time-to-market and complex reporting. A speed bump that we at Emric have been working hard at eliminating. Our leasing solution ProFinance has industry unique capabilities to streamline for multinational asset finance companies acting and growing in local market on local terms.

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Emric has selected Halogen Software’s talent management solutions for recruiting, performance and succession to align its talent strategies to its mission and core values. The Halogen TalentSpace™ enables a centralized view of  talent across the employee lifecycle, making it easier to measure the efficiency of critical HR initiatives.

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Sweden finds itself in unchartered waters as the repo rate goes negative for the first time. Challenges and opportunities? Our guess is that you’re facing a lot of questions right now. We are too.

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The secret to a smoother credit journey, is the cache engine for our Leasing portfolio. In our latest Leasing release we have improved the performance of our engine with up to 40 % providing our users with the fastest and smoothest user experience. It’s rare to make noticeable changes in an optimized world, but you’ll be surprised when using our latest release.

 

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Modelling and testing new financial products can be a costly and time consuming business. As a result the market introduction of new products is delayed and business opportunities are lost.

Business rules are sometime changed externally, this adds risk and increases the lead time in your credit process. Just think about it; what would the impact be on your business if you had the opportunity to easily design, test and implement credit rules in one cohesive environment? And imagine to be able to run your credit rules with real time data to simulate the impact on your business, from price to risk exposure.

Does that sound like utopia? It’s not.

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We are happy to announce our latest product release and to share highlights of new functionality in our products. The release includes improvements throughout the whole lending and leasing portfolio. The Emric team is very proud of our release and we hope that you will enjoy working with it as much as we enjoyed developing it. Welcome to a smoother credit journey!

So what’s new in the release?

Christmas

This year’s Christmas gift from Emric will be a contribution to UNICEF to support the valuable work they do to help children around the world. We hope our gift will spread some holiday spirit where it’s needed the most. We wish you a Merry Christmas and a Happy New Year!

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Emric is proud to be participating in the annual event “Job Fair – Create your own future!” in Belgrade 3-4 november and the goal is to hire new talent to the office in Belgrade. The event is attracting undergraduate and graduate students of engineering and technology and is expected to attract around 5000 visitors. The event is organized for the 10th year in a row and this is the first time Emric is participating.

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During early autumn, Emric will be launching its new Deposit Service. The service has been designed for banks and finance companies that need a deposit service, partly to comply with the requirements of the Swedish Financial Supervisory Authority and partly as a funding method for their lending or leasing business. It now includes a fully automated process, client self-service and digital identification and signing by BankID. End customers will be able to administer their own accounts and Emric will also provide customer services. Our clients will not only benefit from a state-of-the-art solution, but also from an attractive pricing model. Contact us for more information!

MedMera Bank makes it happen

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With support from Emric, MedMera Bank launches a personal loan product in less than six months. How? Find out more about this customer showcase.

MedMera Bank launches personal loan

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Aktia chose Emric as a supplier to the new core banking system to be operational in 2015. The system change is a step in Aktias goal of being Finnish champion in financial services and improving the company’s competitiveness.

The renewal of the core banking system was necessitated by changes in customer behaviour and banking regulation, as well as the current challenging economic situation. Aktia is targeting yearly cost savings of EUR 5 million in IT costs, and more cost-efficient processes. The total investment is EUR 30 million, inclusive of Aktia’s internal work.

“The renewal of our core banking system will allow us the flexibility to develop more efficient processes and enables us to launch new products and services across all channels — including branch, phone, internet banking and mobile — much faster than before,” says Magnus Weurlander, Director of Banking Products and Processes at Aktia.

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