Power Leverages Softledger to Create a Nimble Digital Banking Solution

It is incredibly complex to provide real-time reporting on multiple financial service products to tens of thousands of customers. Because these customers are also located in multiple countries, using multiple currencies, there is a need for partnerships with local banks - adding another layer of complexity.

To solve this problem, Power needs to provide a full digital banking solution. An essential piece of this solution must include accounting for this high volume of complex transactions, as fast as possible. And given that speed is such a critical component of providing an effective solution for their customers, any accounting ledger must be integrated into their platform and enabled for reporting and accounting across multiple dimensions, cost centers, and partners.

Further, Power knew their ambitious expansion would also greatly increase the number of banking partners. In order to provide comprehensive financial statements, they needed a comprehensive, nimble, multi-entity solution that could easily segregate and consolidate transactions on a per-country and per-partner basis.

Despite the complexity inherent in Power’s business, it only took a few weeks to get SoftLedger up and running for their team.

Thanks to SoftLedger’s versatility, Power was able to completely eliminate the need for manual data entry, reducing the risk of mistakes and saving countless man-hours. In fact, what used to take three to four hours, now can be done in just a few seconds.