Alfa Financial Software Hldgs PLC First Customers for Alfa IQ (2200A)
February 01 2022 - 2:01AM
UK Regulatory
TIDMALFA
RNS Number : 2200A
Alfa Financial Software Hldgs PLC
01 February 2022
1 February 2022
Alfa Financial Software Holdings PLC
First Customers for Alfa iQ
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
a leading developer of mission-critical software for the asset
finance industry is pleased to announce that Alfa iQ Limited ("Alfa
iQ"), a partnership between Alfa and Bitfount Limited ("Bitfount")
combining decades of asset finance expertise with deep artificial
intelligence and machine learning capabilities, has secured its
first revenue generating work.
First two Customer Projects
Alfa iQ spent 2021 engaged in prototyping work with Alfa
customers which successfully validated the business benefit of
artificial intelligence and machine learning applications within
the asset finance industry. Alfa iQ has now been engaged by two
leading organisations, one providing automotive finance and the
other business finance, to implement artificial intelligence and
machine learning solutions within their businesses.
The projects build on two different applications of artificial
intelligence and machine learning in asset finance: improvements to
originations and workflow optimisation.
Andrew Denton, Chief Executive Officer of Alfa said:
"I am delighted that, having proven the opportunity in
artificial intelligence and machine learning in the lending
industry last year, Alfa iQ is moving from that exploration phase
into practical application, and generating revenue in 2022 as
planned. Moreover, I am excited to be starting on the journey of
applying artificial intelligence and machine learning to help our
customers optimise service levels and improve the quality of
decision making to increase returns and alleviate risk."
Enquiries
Alfa Financial Software Holdings
PLC
Andrew Denton, Chief Executive
Officer
Duncan Magrath, Chief Financial
Officer +44 (0)20 7588 1800
Tulchan Communications LLP
James Macey White
Victoria Boxall +44 (0)20 7353 4200
Notes to Editors
Alfa has been delivering software systems and consultancy
services to the global asset and automotive finance industry since
1990. Our best practice methodologies and specialised knowledge of
asset finance facilitates delivery of large software
implementations and highly complex business change projects. With
an excellent delivery track record spanning three decades, Alfa's
experience and performance is unrivalled in the industry.
Alfa Systems, our class-leading technology platform, is at the
heart of some of the world's largest asset finance companies. Key
to the business case for each implementation is Alfa Systems'
ability to replace multiple customer systems with our single
platform. Alfa Systems supports both retail and corporate business
for auto, equipment, wholesale and dealer finance on a
multijurisdictional basis, including leases/loans, originations and
servicing. An end-to-end solution with integrated workflow and
automated processing using business rules, Alfa Systems provides
compelling solutions to asset finance companies.
Alfa Systems is currently used by customers or has live
implementations in 26 countries and Alfa has offices in Europe,
Australasia and North America. For more information, visit
www.alfasystems.com .
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END
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