Expansive Product Support
Flexible and configurable product structures.
Alfa Systems supports both retail and corporate business, including complex leases and loans, usage-based products and risk-free rates.
Alfa Systems supports a wide range of products, including operating leases and finance leases.
Loans and hire purchase, whether conditional sale, traditional/precompute, daily actual balance, contract hire or PCH, are also supported.
Usage-based product support incorporates inline usage-based billing, end-of-term usage billing and usage-based restructures.
In addition, Alfa Systems supports a multitude of other product types, including:
- Variable-rate products
- Wholesale financing
- Lines of credit
- Interest-offset accounts
- Deposit accounts
"Alfa Systems enables us to launch a wider range of new products to the market, improve speed and efficiency, and offer a significantly improved service to our brokers and their customers.”
Financial products are often defined and transformed to suit the changing market. Meanwhile, the terms and definitions used by those organisations are always evolving.
To provide flexibility in this area, Alfa Systems allows you to implement your own variations of each product type. This is achieved through product templates, which allow standard product configurations to determine the characteristics, limitations and authorities for each financial product, configured to suit your business, then taken to market at speed.
"We continue to benefit from the wide range of products and services that Alfa Systems supports, allowing us to grow our increasingly diverse portfolio all on a single system."
LIBOR Reform: The Impact for Auto and Equipment Finance Providers
LIBOR rates are used by auto and equipment finance businesses globally as a benchmark to determine customer interest rates. However, LIBOR, EURIBOR and other such rates carry inherent shortcomings which have led to their forthcoming replacement by alternative risk-free rates such as SONIA and SOFR.
In our whitepaper, we discuss why this is happening, what it means for finance providers who need to make the transition, and how their systems must be enhanced to accommodate the changes. Read more in LIBOR Reform: The Impact for Auto and Equipment Finance Providers.