Industry Expertise | Alfa Introduces Sustainability
AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Grace McGurn.
Alfa introduces Sustainability, the third pillar of Alfa Systems 6
March 19, 2024
Alfa, a leading provider of technology for automotive finance, today announced the release of Sustainability, the third of six releases that make up Alfa Systems 6 – a breakthrough iteration of its Alfa Systems software platform.
Sustainability in Alfa Systems 6 offers powerful new capabilities to address the evolving needs of the auto finance industry, particularly those providers who are driven by sustainability and changing business models.
Building on last year’s announcement of new Scope 3 reporting functionality to help Alfa customers track and report their portfolios’ emissions, Sustainability equips auto finance providers with the flexibility they need to:
- Embrace new business models: Support subscription-based offerings and XaaS (Everything-as-a-Service) models, which are gaining traction across industries.
- Manage the entire vehicle lifecycle: Extend product lifespans, optimize second and third lives, and streamline refurbishment processes.
- Comply with net-zero and ESG regulations: Navigate the changing landscape, shaped by environmental concerns and regulations.
“The auto finance industry is undergoing a period of significant transformation, driven by sustainability initiatives and innovative business models,” said Emily Hammond, Alfa’s Head of Product. “The Sustainability pillar of Alfa Systems 6 empowers finance providers not only to adapt to these changes, but also to capitalize on the exciting opportunities they present.”
Sustainability highlights in Alfa Systems 6:
- Enhanced asset lifecycle management: Alfa Systems 6 allows customers to track and account for vehicles throughout their entire journey, from origination to end-of-life, including inventory management for reuse and resting, short-term second and third lives for vehicles, and streamlined refurbishment processes.
- Subscription-ready platform: A new Subscription ‘Service Pack’ supports a variety of subscription models, including on- or off-lease subscriptions, usage-based or periodic billing structures, and targeted AI-driven software subscriptions that optimize vehicle usage.
- Seamless Everything-as-a-Service facilitation: The XaaS ‘Service Pack’ allows users to manage multi-asset schedules and contracts, utilize usage meters and customized usage-based billing, and integrate financing and invoicing of essential add-on services into a single, consolidated billing line.
Alfa Systems 6 reflects Alfa’s longstanding commitment to sustainability, and its dedication to supporting its customers in their sustainability journeys.
In 2023, Alfa announced new functionality to help its customers track and report their portfolios’ Scope 3 greenhouse gas (GHG) emissions. Soon, Alfa will unveil its own Sustainability Progress Report, offering insights into its Environmental, Social and Governance (ESG) performance and initiatives, including further details of its commitment to net-zero, as validated by SBTi.
– Ends –
About Alfa Systems 6
Founded on six pillars, Alfa Systems 6 helps automotive finance providers tackle the significant challenges they face, and seize the lucrative opportunities that lie waiting. It is delivered in a series of six releases that culminate in its full launch later in 2024:
- Efficiency, the first release in Alfa Systems 6, presented Compose: superpersonalized screen design.
- Total Capability, the second release, introduced Total Originations, an advanced originations product.
- The remaining pillars are Scalability, Collaborative Ecosystem and Intelligent Automation.
To find out more 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. Alfa Systems 6 is frictionless for existing customers.
About Alfa
Alfa has been delivering systems and consultancy services to the global automotive finance industry since 1990.
Our best practice methodologies and specialized knowledge of auto finance mean that we successfully deliver systems transformation projects of any size or complexity. With an excellent delivery history of more than three decades in the industry, Alfa’s track record is unrivalled.
Alfa Systems, our class-leading technology platform, is the heart and lungs of some of the world’s largest and most progressive auto finance providers. Satisfying software requirements of all sizes, the cloud-native Alfa Systems represents an integrated point solution, a rapid off-the-shelf implementation, or an end-to-end platform for the complex global enterprise.
Alfa Systems supports both retail and corporate business for equipment, automotive, wholesale and dealer finance, including originations, servicing and collections. It manages both high-volume transactions and complex leases and loans, in any region, language and currency. Fully extensible and providing real-time insights, integrated workflow and business rules, alongside business decisions driven by machine learning, the opportunities that Alfa Systems presents to auto finance companies are clear and compelling.
With over 30 current clients and 38 countries served, Alfa has offices all over the Americas, Europe and Australasia. For more information, visit us at alfasystems.com or follow us on LinkedIn.
March 20th, 2024
