Lloyds Bank Partners with Alfa to Enhance Asset Finance Journey



Lloyds Bank partnered with software specialist Alfa to make it easier for customers to use asset finance to manage their working capital.

Managing capital effectively and ensuring the correct balance between funding growth, increasing stock and retaining funds for financial resilience are core challenges for any firm’s management. With ongoing supply chain issues, many businesses have sought to build stocks to minimize disruption and price volatility, creating a challenge for management teams, as deploying capital from reserves ties up cash that might otherwise be used to fund assets that deliver growth or protection from financial shocks.

Using asset finance can allow businesses to purchase assets that support their growth while enabling them to retain the working capital needed to maintain their financial resilience and navigate the cost and supply challenges facing many UK businesses right now.

As part of the partnership with Alfa, Lloyds Bank will transition to Alfa Systems v5, a cloud-based system that will automate its asset finance solution’s customer servicing, income collection and recovery and pay-out handling. With a planned roll out of the system later this year, Lloyds Bank will also use API connectivity to deliver a fully digital asset finance journey to customers.
Lloyds Bank has worked with Alfa for more than 30 years, originally using Alfa Systems v3.5 for its asset finance proposition. The upgrade will help Lloyds Bank reduce its reliance on manual processing.

“The pandemic saw large numbers of businesses across the UK accelerate their transformation plans and embrace new technology to lower their costs and transition towards net zero. Businesses also now expect more connected digital experiences as standard, giving them greater control over their finances,” Chris Loring, managing director of lending and asset finance at Lloyds Bank, said. “Our partnership with Alfa is a significant step forward in improving our customer experience, including digital capability, to support our product development plans and help us grow our asset finance business.”

“We are thrilled to be supporting Lloyds Bank in this project and delivering Alfa Systems via the cloud for another valued, long-term client,” Andrew Denton, CEO of Alfa, said. “Bringing their small-ticket and structured portfolios onto our platform is just a part of a wider digital transformation, which demonstrates Lloyds Bank’s investment in technology and commitment to the asset finance market.”


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