CHP Consulting, provider of ALFA Systems, announced the launch of a major upgrade project with the financial services arm of a popular high street bank.

According to CHP, the bank is an established multinational organization and 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.

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.

“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,” said James Paul, CHP Consulting’s relationship manager for the client in this project. “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.