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finPOWER Connect has a unique licensing model that is reflective of your actual use of the system and sets it apart from most other loan management software systems on the market.

Firstly, finPOWER Connect is very modular by design, meaning there are a wide range of optional modules and features that only need to be purchased should that functionality actually be required. We know that one size does not fit all so you can choose the features that best suit your unique business model. Secondly, the finPOWER Connect Loan software system is multi User – you do not have to purchase a new licence for each new User that needs to use it. If you add a new staff member, you do not have to add a new finPOWER Licence. Finally, the on-going cost of the system is based on the number of Accounts (Loans) you run on it and what modules you are licensed for.

The Annual Software Licence Fee

The Licence Fee is for the continued use of the system and access to all the latest versions of finPOWER Connect as they are developed. finPOWER Connect is constantly under development at our NZ based Development Centre so new features and functionally are regularly released.

The Annual Software Licence Fee is based on the number of open Accounts your finPOWER Connect system is licensed to and on the number and type of modules you have. The Licence Fee will be charged monthly from the first full month following the purchase of the system. You are charged based on the highest number of contracts licensed to in any one month.

The Annual Software Licence Agreement

Upon installation of the software, the Annual Software Licence Agreement must be signed. The Annual Software Licence Agreement is designed for the clients protection as well as the developers of the software. The main benefit to you is in maintaining the software's value, by providing fixes and enhancing the software facilities. This means your software doesn't lose its value over time, and usually it increases.

The Number of Open Accounts

finPOWER Connect holds licensing information on the maximum number of Open Accounts (Loans) that can be registered on the system. “Open” accounts refers to a Loan that has an active balance – not closed loan or a loan quote.

The number of open accounts your finPOWER Connect system is licensed to can be increased or decreased in blocks of 100 by contacting us and quoting your Licence Number. It is suggested that you increase the number of open contracts your system is licensed to well before they are required, however, warnings are given when you are approaching your limit.

Annual Relicensing of finPOWER Connect

finPOWER Connect requires relicensing at least annually for continued operation. We will contact you in the month prior to the existing licence expiring, advising of the process for you to acquire the necessary relicensing codes. In the event of the system not being relicensed prior to the expiry of the existing licence, the system will become “Read Only” and no new information will be able to be entered.

Using finPOWER Connect

You may only process your own businesses information (primary database) on finPOWER Connect, but you may install the system on any computer required to process the primary database, so long as the computer is connected (permanently or temporarily) to the network where the primary database resides.

This means that only one company can process their information on the one licensed system and the primary database can only reside in one location. If you have any queries regarding the use of the system for multiple databases, please contact us to check.

Other Charges

Freight, materials and phone or direct support are not covered by the Licence Fee and are charged in addition to this. However we reserve the right to provide upgrades free of cost (for example disks and postage free). Any support facilities outside the scope of this agreement, eg program modification and recovery of corrupt data files will be charged on an hourly basis or at a pre-quoted price.

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