WesBank Signs New 5-Year Agreement with SBS and Upgrades to the Latest version of SFP Wholesale

SBS, a leading technology partner helping banks and financial institutions digitalize their services, is pleased to announce that WesBank, South Africa’s most successful wholesale funder and a leading vehicle and asset finance institution, part of FirstRand Bank Ltd, has signed a new five-year agreement with SBS for its wholesale operations across Southern Africa.

A valued SBS client since 2012, serving more than 1,000 dealers across the region, WesBank is upgrading from its previous version to the latest release of SBS’s SFP Wholesale, delivered as a SaaS cloud-native offering.

SFP Wholesale is one of the most configurable asset management solutions on the market, enabling financial institutions to adapt rapidly to evolving business, regulatory, and market requirements. The SaaS model provides scalability, operational resilience, and continuous innovation, supporting WesBank’s large-scale cloud transformation and strategic expansion programme.

The upgrade also unlocks access to SBS’s broader portfolio of specialized asset finance and asset management platform capabilities, including solutions that enrich operational data with AI-driven insights to enhance decision-making, risk management, and performance optimization.

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This strategic move reinforces WesBank’s commitment to innovation, scalability, and enhanced service delivery across the Southern African market.

“The renewed partnership with SBS marks an important step in our ongoing transformation journey”, said Rob Gwerengwe, CEO of WesBank. “By upgrading to a modern, cloud-native platform, we are strengthening our ability to scale, innovate, and deliver enhanced value to our dealer network across Southern Africa. The flexibility and intelligence enabled by this solution will support better decision-making, improved risk management, and a more responsive service offering for our clients.”

“WesBank has been a cornerstone of our presence in Africa, and this renewed agreement is a testament to the strength of that relationship,” said James Powell, Global Head of Lending at SBS. “Delivering SFP Wholesale as a cloud-native SaaS solution reflects our commitment to providing institutions like WesBank with the scalability and innovation they need to lead in an increasingly competitive market. We are proud to support their transformation journey and their ambition to set new standards in asset finance across Southern Africa.”

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