The updated platform is currently in live production with various major clients, with a series of implementations also in progress.

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

In addition, 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. Capabilities are in place to migrate off the most commonly used legacy platforms in the market.

The new version also brings changes to enable it to segment a portfolio more effectively into logical business units, enabling customisation according to the permissions of a particular user, team or division.

ALFA has also been improved with regards to automated decisioning during workflow processing, to extend the deployment of user-configurable business rules into all aspects of compliance, workflow and transactions.

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.

Finally 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.”