A finPOWER Connect Alternative for Cash Advance Funders in Australia

finPOWER Connect is loan origination, loan management and investment software from Intersoft Systems, a New Zealand firm with more than 35 years in finance software. Its own material describes it as purpose-built for lenders and reports 400+ lenders across Australia and New Zealand — consumer and commercial credit, asset and equipment finance, banks and mutuals, non-bank lenders. For amortising credit in this market it is a genuinely capable platform, and well wired into the local ecosystem.

MCA Track is cash advance software. It has served merchant cash advance funders since 2010 and models a purchase of future receivables, not a loan: an advance amount, a factor rate, a fixed payback, and a daily or weekly direct debit that runs until the payback is collected.

That difference is not cosmetic. A loan core is built around principal, an interest rate, an amortisation schedule and arrears ageing. An advance has none of those. It has no interest accrual, no amortisation, and its performance is measured against an expected collection pace rather than a due date. Modelling an advance on a term-lending core means approximating it — usually as a fixed-term facility with the interest precomputed and charged upfront, with the factor rate carried in a user-defined field. It works. It is not the same as a system that only does that math.

On a loan, you lend $100,000 at a rate over a term and the system amortises it: each instalment splits into interest and principal, interest accrues, and a missed payment ages into an arrears bucket.

On a cash advance, you buy $130,000 of future receivables for $100,000. The factor rate is 1.30. The payback is fixed at $130,000 on day one. Nothing accrues. You collect $1,300 a day by direct debit until the $130,000 is in. If collections slow, the deal does not fall into arrears — it falls behind pace, which is a different measurement and a different collections response.

Everything downstream follows from that. Payback, balance, percentage paid and performance score are native to MCA Track because they are the only math the system does.

This is usually the first question an Australian funder asks, and the answer is straightforward: MCA Track is payment-provider agnostic. We integrate the provider you already run rather than forcing you onto ours — whether that is Monoova, Zepto, another direct entry bureau, or your bank’s own facility.

That matters on a switch. The collection rail is the part of a lending operation with the most operational risk attached to it: mandates, dishonour handling, settlement timing, reconciliation. Changing servicing platforms is a big enough project without changing how money moves at the same time. Keep the rail, change the system around it.