CHP Consulting, provider of ALFA Systems, a best-in-class software platform used by top asset finance providers worldwide, has announced the go-live in a major project with the financial services arm of a popular high street bank.
The unnamed bank in question, an “established multinational and a household name”, has been a CHP client and ALFA user for more than 10 years.
The upgrade project went live in late 2015, with a second phase to consolidate the bank’s larger vehicle and equipment finance portfolio onto ALFA to take place later in 2016.
One of the key benefits has been the ease with which ALFA v5 has seamlessly integrated into the bank’s wider systems environment. In addition, ALFA’s highly configurable workflow and automated business rule processing, combined with the rich out-of-the-box ALFA functionality, are already providing increased efficiencies for the client.
The second phase will include automated portfolio revaluations based on real-time vehicle valuations, as well as further integration with the bank’s systems to automate processing that was previously performed manually.
Andrew Denton, CHP Consulting’s chief operating officer, said: “Since its launch in 2009, ALFA v5 is live with an increasing number of clients and is in the process of being implemented with a series of others, including three of the top 10 US auto captives.”
James Paul, CHP Consulting’s relationship manager for the client in question (pictured above), said: “Due to our long-standing partnership and CHP’s exceptional project delivery record, this notable bank chose to consolidate its entire asset finance business onto ALFA. We look forward to working with them this year to deliver the second phase and beyond.”
ALFA Systems currently stands at version 5.3, with version 5.4 scheduled to be released later this year.
