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Peapack Capital Increases Scalability, Fuels Expansion with ASPIRE Platform in the LTiCloud

August 04, 2020, 07:17 AM
Filed Under: Industry News

LTi Technology Solutions, a provider in equipment finance software, announced that Peapack Capital is propelling its digital transformation with technology on the ASPIRE platform. By using ASPIRE in the LTiCloud, Peapack Capital has shifted its business applications to the cloud to process transactions quickly, gain real-time insights, and improve operational agility.

Peapack Capital has grown to approximately $700 million in net assets since its founding in April 2017. With a business that is quickly scaling, Peapack Capital recognized the need to modernize operations. By using ASPIRE in the LTiCloud, Peapack Capital can maximize profitability that will fuel further expansion. To compete more aggressively and stay at the forefront of the financial sector, Peapack Capital wanted to replace its manual systems with an integrated end-to-end solution that could accommodate future portfolio growth and have a system that could handle originations through lifecycle management. By enabling Peapack Capital to seamlessly integrate its business applications, ASPIRE in the LTiCloud will be able to provide a flexible platform that allows Peapack Capital to process deals rapidly, increase profitability and deliver an enhanced customer experience.

Robert Cobleigh, President of Peapack Capital, said, “Peapack Capital sought an efficient, full lifecycle solution to support our business growth. It was also critical maintaining our service partner relationship with JDR Solutions. We found that solution in ASPIRE. The LTi team fully supported our vision. LTi, working together with JDR, helped Peapack Capital to “Go Live” under a very aggressive timeline. We’re very pleased with the outcome.”

Bryan Hunt, Senior Vice President and Chief Revenue Officer of LTi, said, “To compete at the leading edge of the financial sector, Peapack Capital needs real-time visibility across the entire organization in order to respond rapidly to changing needs and demands. Bringing front- and back-end systems together in ASPIRE in the LTiCloud will enhance Peapack Capital’s business process, security and overall efficiency, and ultimately helping improve the customer experience.”

Peapack Capital, a subsidiary of Peapack-Gladstone Bank, provides loans and leases to companies of all sizes, specializing in large-scale transactions which help businesses grow and succeed.

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