CHP Consulting announced the release of version 5.3 of ALFA Systems, the software platform used by asset and automotive finance operations worldwide.

Functional highlights include:

Further automation: ALFA has been enhanced to increase system automation in key, high-volume processing areas, such as in-life contract changes and end-of-term processing.

Migration: ALFA’s migration suite, used to onboard contracts from legacy portfolio systems, has been enhanced to allow it to scale out and handle the exceptionally high volumes of the largest equipment and auto finance providers.

Augmented data segregation: ALFA can segment a portfolio more effectively into logical business units, allowing a view into the portfolio that is customised according to the permissions of a particular user, team or division.

Business rules: A cornerstone of modern, efficient business processes is to maximise the use of automated decisioning during workflow processing.

Integration: ALFA’s existing library of standard industry interfaces has been further extended with additional links to payment processing platforms and other industry third party service providers.

Web services: From the inception of ALFA v5, a service-based architecture has been at the heart of the platform and its ability to integrate effectively with both new and old systems in use at many asset and auto finance operators. The library of standard services has been further developed in v5.3 and now incorporates a best practice guide to enterprise integration patterns.

Steve Taplin, CHP’s global sales director, said, “ALFA v5 continues to be the platform of choice for asset finance operators. As well as these many new features we’ve made advanced improvements to performance and benchmarking, added a raft of supportability features, and continued to invest considerable time and effort in research and development. We continue to take on more clients of all sizes.”