Edgewater Funds-backed Implement Holdings has invested in Brilliance Financial Technology, which provides commercial lending software. Implement Holdings is an investment company focused on financial technology.
Brilliance Financial Technology, a global provider of commercial lending Risk-based Pricing and Profitability optimization software, today announced a majority investment by Implement Holdings, an investment company focused on financial technology and services companies that serve the front-, middle- and back-office. Implement Holdings is backed by the Edgewater Funds, a private equity firm partnering with Implement to identify high growth companies within financial services. This investment will enable Brilliance to leverage Implement’s resources and expertise while also enabling the firm’s rapid global expansion.
Jean-Edouard van Praet, Chief Executive Officer at Implement Holdings, will take on the role of President at Brilliance Financial Technology. van Praet brings extensive experience leading financial technology firms. The investment by Implement Holdings represents a milestone in Brilliance’s growth.
According to van Praet, “Brilliance has a one-of-a-kind commercial lending risk platform and might even be considered a best kept secret within the banking industry. We truly believe in Brilliance’s powerful value proposition and are looking forward to fostering Brilliance’s next phase of growth. Banks today need to move beyond manual processes and capitalize on critical data.”
Brilliance delivers a comprehensive Risk-based Pricing and relationship profitability platform. Currently, Brilliance supports a global user base of over 20,000 relationship managers, portfolio managers and other decision makers at the world’s biggest banks, including a top-tier European bank, two of the top Australian banks, and a notable mid-tier US bank.
“Many Tier I banks still rely on spreadsheets and proprietary solutions that are difficult to maintain for managing risk based pricing of Corporate and Institutional loans,” explained Christopher Grant, who will continue to serve as Chief Executive Officer at Brilliance. “While some of the world’s leading banks already rely on our platform, we have just scratched the surface when it comes to the tremendous opportunity in our Tier I and Tier II bank marketplace. With Implement’s help, we look forward to expanding Brilliance’s reach and providing on-the-ground support in key growth regions, especially the United States and Europe. Brilliance has now opened offices in New York and San Francisco to drive the next phase of its growth. We will be opening a London office in the near future.”
Through Brilliance’s platform, banks are able to evaluate the Risk Adjusted Returns of corporate loans and other credit products; maximise customer profitability; and optimize the use of capital. The ability to forecast complex multiple level Risk Adjusted Returns through a single application at the point of origination strengthens existing commercial decision making capability. The flexible platform architecture rapidly integrates with both third party and in-house developed systems.
Gregory Jones, Partner at the Edgewater Funds, comments, “The financial services space is going through a remarkable evolution. New, innovative firms like Brilliance are complete game-changers. We recognize the tremendous growth potential and the inherent value that Brilliance brings to the banking space. We’re excited by what Brilliance is doing today and where they are going.”
About Brilliance Financial Technology
Brilliance Financial Technology is a global leader in developing and delivering best in breed Risk-based Pricing and Customer Profitability measurement solutions to the banking industry.
Supporting over 20,000 users, with clients in the USA, Europe, Asia, and Australia, Brilliance was the winner of the 2006 Consensus Award, granted by the Australian government for excellence in technology innovation.
Further information is available at http://www.bxfin.com