A new standard for excellence in US auto finance originations

Alfa, a pioneer in technology for automotive finance, has announced the introduction of Total Originations for the US auto finance market, setting a new standard for excellence and marking a significant milestone for efficiency and sophistication in auto finance solutions.

Total Capability

Total Capability, the second of six releases that culminate in the full launch of Alfa Systems 6 later in 2024, introduces Total Originations, an advanced originations product designed specifically for the US auto finance sector. Covering direct and indirect lending, from quoting to funding, Total Originations represents an integrated part of the Alfa Systems platform, offering customers the full spectrum of Alfa Systems’ best-in-class capabilities.

Emily Hammond, Alfa’s Head of Product, said: “We’re seeing a dynamic shift in the market landscape, with new asset types, increased accessibility to customer data, and the adoption of innovative technologies that drive automation. There is also a noticeable trend toward direct lending. In response to these evolving market needs, as well as customer feedback, Alfa has expanded the functionality of our originations product to position it as the premium solution.”

Andrew Denton, Alfa’s CEO, said: “Alfa’s originations functionality is already well established, serving notable brands with international reach. Total Originations offers further choice and versatility, allowing finance providers to design their own lending capabilities, releasing valuable resources to focus on more complex, higher-margin transactions. Empowering lenders with unparalleled functionality, and upholding our commitment to enabling excellence in both direct and indirect lending, Alfa continues to set industry standards.”

Efficiency

Efficiency, the first release in Alfa Systems 6, introduced Compose, a ground breaking innovation for auto finance operators. Compose represents a leap forward in personalized screen design, empowering Alfa Systems customers to create bespoke interfaces tailored precisely to their needs, and deployed instantly.

Addressing the efficiency challenge head-on, Alfa’s team has drawn on leading-edge technology frameworks to develop the Compose module, enabling Alfa Systems users to create highly personalized screens that present only the information essential to the task at hand. The result is a dramatic reduction in time, click count, and cognitive load, and improvement in flow – at all points in a workflow, throughout the contract lifecycle, and beyond.

Alfa Systems 6

Alfa Systems 6 is frictionless for existing customers. 2024’s iteration of the Alfa Systems software platform delivers important changes in performance and function to help address those challenges and take those opportunities – without obliging you to upgrade your infrastructure. Furthermore, existing Alfa Systems customers who take upgrades can subscribe to this functionality as it is released, culminating in the full release of Alfa Systems 6 in October 2024.