Syscap rebranded as parent opts for more unified approach

The start of a fresh year has seen an end to the Syscap brand as the channel finance specialist rebrands to take the name of its parent, Wesleyan Bank.

Although the name has changed the commitment to provide credit to the channel remains one of the main objectives with the financial player planning to do even more for vendors and resellers.

Wesleyan acquired Syscap back in February 2015 picking up a finance business that specialised not just in the channel but also in the education and legal sectors.

Steve Deutsch, chief executive of Wesleyan Bank, said that the rebrand was part of a strategy to fund more business directly from the bank.

“Whilst we have been working as one team for some time now, the decision to unify our operations under a single identity has been welcomed by our customers, vendor partners and staff alike," he said.

"As a stronger combined business, we are better equipped than ever to offer enhanced solutions and digital services that are tailored to the needs of our customers," he added.

The firm is a subsidiary of the Wesleyan Assurance Society, which has £7bn of assets under management, giving it some serious financial muscle.

“With a clear understanding of the unique challenges and opportunities facing the vendor community, we are ideally positioned to provide an unrivalled depth of industry knowledge and support to our partners and their resellers to achieve profitable growth," said Deutsch. The bank's channel partners include Sage, Infor, Softcat and Autodesk. 

One of the main changes after the Wesleyan deal was struck was that the Syscap operation became 100% focused on the channel with the parent company picking up the education, general SME and professions business, including the established legal sector operation.

Over the past couple of years Syscap enhanced and developed reseller support programmes, including specific assistance for those making the transition to a managed services model.