Customers Bank, a community, full-service US business bank, has launched a new branch to deal with commercial finance business and have chosen LeaseTeam’s ASPIRE to provide end-to-end lease and loan management solutions.
This new business segment will deal with offering equipment finance and leasing products and services for a large bandwidth of asset classes. These services would also be provided to service vendors, independent finance companies, dealers, bank-owned leasing companies and direct customers.
On that route, ASPIRE would help Customers Bank to simplify its transactions, streamline the adjudication process along with robust asset management and procurement and many more services, through a single system.
Samuel H. Smith III, managing director of the Customers Bank Commercial Finance division talked about the decision to choose ASPIRE: “ASPIRE will provide everything in an end-to-end operating system solution that our commercial finance and leasing business was looking for.
“LeaseTeam understands our unique challenges and is providing customised solutions that will enable us to process our transactions more efficiently while providing the flexibility for our future growth and expansion into new business channels and markets. We are very pleased with the progress we have made as a result of the expert guidance that Randy Haug and his team have provided.”
Randy Haug is the co-founder and executive vice president at LeaseTeam and expressed delight over being chosen by Customers Bank.
“We’re delighted to add Samuel H. Smith III and his trusted and experienced team to our growing family of bank equipment finance companies nationwide. The synergies between our group at LeaseTeam and Sam’s team were immediate. We are currently putting our combined years of experience, trust and integrity to work in the deployment of ASPIRE, which is being configured specifically for the success of Customers Bank Commercial Finance and its clients.”
Located in Portsmouth, Customers Bank Commercial Finance (CBCF) is a division of Customers Bancorp, Inc. It is renowned to provide a variety of lease and financing products through vendor as well as direct and capital markets origination channels focused on markets such as industrial, packaging, franchise, plastics, construction, marine among others. Customers Bancorp Inc. engages in public banking services through its subsidiary Customers Bank, where the board of directors includes noted names such as Bhanu Choudhrie and Jay S. Sidhu.