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Customer Success Story

Leading New Zealand financial service provider streamlines its Lease and Loan Portfolio Management

The bank chose Solifi Portfolio Management on the Solifi Open Finance Platform for its equipment finance services.


In 2022, the BS11 legislation was introduced in New Zealand, requiring large banks (with net amounts of NZD$10 billion or more) to have the legal and practical ability to control and execute outsourced functions, including via the use of their cloud services, from within New Zealand.

As a result, a leading provider of banking and financial services in the country, offering a range of services for personal, business, and agribusiness banking, started its search for a solution that would establish full control over the management of their equipment finance portfolio.


BS11 aims to protect the interests of New Zealand customers, and the wider economy, through the regulation of outsourcing arrangements. Consequently, the bank required a platform that allowed for complete authority over the portfolio management of its equipment finance business, which includes operation leases, hire-purchase, and finance leases.

The bank was searching for software with the ability to mitigate risk in an automated way. It was also necessary for the bank to be able to manage its portfolio independently of the wider group in order to comply with the new legislation. A solution with the capability to respond quickly to changing markets, offer flexible configuration, and real-time data streaming was vital.


In October 2022, Solifi was chosen as the preferred solution provider, as our Portfolio Management solution could provide not only control, compliance, and automation, but also the security and reliability required from the bank.

From then, Solifi embarked on an implementation project to achieve technical readiness in six months. The goal was achieved, and in April 2023, Business Go Live was completed on the new system, which included data integration with 15 downstream systems.


The solution was successfully implemented with total general ledger balances with $0 reconciliation error. The project effectively separated the bank’s customers, contracts, assets, and general ledger from those in the wider group. The bank is now operating its own portfolio of 10,000 contracts and 10,000 assets, with a total portfolio of $2.4B.

Commenting on the bank’s experience with Solifi, the Program Manager stated: “Without doubt, the best customer/vendor relationship I have ever had the pleasure of being part of. Outstanding and thoroughly consistent, enthusiastic engagement by everyone.”

“Without doubt, the best customer/vendor relationship I have ever had the pleasure of being part of.”

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