Contract

RNS Number : 8146T

Alfa Financial Software Hldgs PLC

19 November 2019

 

19 November 2019

Alfa Financial Software Holdings PLC

New contract win

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), the market-leading developer of software for the asset finance industry, is pleased to announce a new contract win with the German subsidiary of a major international bank. The bank is one of the largest automotive finance providers in Germany.

As detailed in the Company's H1 results announcement, implementation work has been delivered throughout 2019 under successive letters of engagement and this work will continue under the new agreement.  We expect this new contract to rank in the upper tier by monetary value relative to other Alfa implementations. Revenues from the first phase of the implementation programme are already built into the Company's forecasting assumptions and therefore this contract provides a further underpin to the Company's expectations for 2019 and 2020.

Andrew Denton, Chief Executive Officer of Alfa said:

"We are delighted to cement this important relationship with a globally respected consumer finance leader. The project broadens Alfa's geographical footprint and continues the Company's portfolio diversification by adding support for German automotive finance.  We are excited to work with this key customer on its ambitious roll-out plans as well as its innovative and disruptive approach to consumer finance."

Enquiries

Alfa Financial Software Holdings PLC Andrew Denton, Chief Executive Officer John Miller, Interim Chief Financial Officer	[phone]
Tulchan Communications LLP James Macey White Matt Low	[phone]

Notes to Editors

Alfa has been delivering 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 our delivery of large software implementations and highly complex business change projects. With an excellent delivery history over nearly three decades in the industry, Alfa's experience and performance is unrivalled.

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 client systems on a 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 supports portfolios in 20 countries and Alfa has offices in Europe, Asia-Pacific and North America.  For more information, visit www.alfasystems.com.

 

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