Avida Finance AB

Avida background image sunlit architecture

Platform Change to Become Nordic Industry Leader

The Challenge

Avida Finans specialises in offering financial products such as deposits, loans, revolving credits and factoring to corporates and consumers in Sweden, Norway and Finland.

They needed to unify their product portfolio on a single modern platform to be able to create exciting products and services for the entire Nordic market and become the industry leader in understanding and meeting customers' needs throughout the Nordic region.

The Solution

Stacc delivers a complete core solution supporting deposits, loans, revolving credits and factoring, as well as process automation and case handling across the Nordics.

The solution consists of a ledger, depot, automated lifecycle handling of products and agreements from disbursement to closing, and handles payment plans, due register, roles, customer data, automated periodic events, default management, automated debt collection and running administration.

The solution also includes an integrated ERP system and different compliance requirements built-in.

The Result

With all customers moved to the new platform, work is starting for Avida to get the maximum benefit from the new technical solution.

Avida Finans is expanding. On 1 January 2025 it took over Santander Consumer Bank's Swedish and Norwegian credit card business, along with the sales finance business Santander ran with Elkjøp Norge AS and Elgiganten AB in Sweden. Both are also Stacc customers.