Case Study: Lykill hf achieves faster financial processes and improved customer service with SAP HANA

How Did a Better IT Platform Help a Banking Business Emerge from the Financial Crash Even Stronger

Lykill hf, an Icelandic financer of car and equipment leases that rebuilt itself after the 2008 financial crash, aimed to expand into full-service and fleet leasing but needed a more responsive, user-friendly IT core to support growth and faster customer service. The company chose to replace its legacy systems and unify data and workflows to enable quicker credit evaluations, approvals, invoicing, and accounting.

Working with Applicon to deploy SAP HANA and SAP S/4HANA with SAP Fiori, Lykill created a single source of truth and reengineered key processes. The upgrade cut database size by 80%, reduced daily status updates from 4 hours to 10 minutes, shortened financial close from 4.5 to 1.5 hours, delivered debt-to-income analysis in 3 seconds, sped payment runs and valuations to about 30 minutes, and enabled a new customer self-service site and lower training costs.

Lykill hf

Curd Abstoss

Head of IT