Changing the Game in Originations: Part 3
Real Steps You Can Take, Right Now
In the three-part Changing the Game series, we explore composable workflows, agile campaign management, and the benefits of a modern, consolidated technology landscape.
Part 3: Quoting and Requoting with Unified Configurability
As a global solution, Alfa Systems offers wholesale, originations, and servicing capabilities across diverse industries and regions. Our customers reap the benefits of a streamlined technology ecosystem that consolidates three pivotal platforms into one.
The unified configuration and data architecture that underlie pricing, credit, and funding also form the foundation for servicing. This cohesion eliminates the need for complex integrations to hand over data between systems that were designed independently.
Every stage of the contract lifecycle is underpinned by the same data, without the complexity of having to cross system and data boundaries.
By maintaining a single, integrated architecture, critical information can be shared across functions, ensuring consistency and accuracy - for example, past delinquencies, the number of loans, lines of credit, and assets used as security. Dealer-specific information, such as the total number of active deals for a particular dealer, is also readily available. Furthermore, the architecture enables the analysis of total lifecycle profitability from different campaigns and dealer subsidies, facilitating better decision-making and strategic planning.
Alfa Systems’ quick-quote feature allows for consistent pricing from quoting through to servicing, meaning every stage of the contract lifecycle is underpinned by the same data, and allows customized pricing based on customer past behavior. This information is all exposed in real time to our reporting solution, allowing our customers to go deeper with analysis and data insights - all without the complexity of having to cross system and data boundaries.
Absolute, customer-owned configurability grants Alfa Systems customers self-service access to an array of features such as multi-asset leasing, subscription models, and support for direct lending.
And operationally, this translates to an enhanced customer and dealer experience. Given a holistic view of each customer's history, including current delinquency and credit application record, auto lenders can make informed decisions that foster customer loyalty. For example, detailed loan payoff information can trigger marketing campaigns tailored to the customer and vehicle, illustrating the potential trade-in value of the paid-off vehicle.
Rather than relying on custom code, and facing the many inevitable associated challenges, our platform's strength lies in its absolute and customer-owned configurability. Designed into the product from day one, this key differentiating factor grants our customers self-service access to an array of features previously inaccessible or reserved for the future, such as multi-asset leasing, subscription models, and support for direct lending.
Alfa's delivery methodology further reinforces these benefits. Despite the unique and complex challenges of consolidating multiple core platforms for large automotive lenders, our proven approach - and unrivaled track record of delivering successfully and at scale - position our customers compellingly for the future.
To find out about how Alfa Systems 6 can transform your business, open up new revenue streams, and bring heightened productivity to your operation, visit alfasystems.com/6.
Frictionless for existing customers, Alfa Systems 6 is founded upon six pillars.
Already released
Coming in 2024
Systemized decision-making through AI and rules-based workflows.
Simple integration with market innovations and through Alfa’s trusted partner network.