CarMax Updates Systems to Onboard New Tech Faster | Auto Finance News | Auto Finance News

CarMax Updates Systems to Onboard New Tech Faster

CarMax Auto Finance is one year out from being able to onboard new technologies faster, Chief Operating Officer Mike Farris told AFN. The used-car retailer is working with London-based Alfa Systems to overhaul its core systems to make it more agile for innovation.

“It’s really an evolution concept,” Farris said. “On the finance side, we’re going through a whole new core system migration. That new system will allow us to be able to innovate and look at things at a much faster pace.”

Once the core system is upgraded, CarMaxAuto Finance plans to add customer-relationship management technology. Consumer-facing initiatives include messaging strategies, web capabilities, and CarMax Auto Finance’s online portal. These capabilities will enable CAF to manage customer relations from a single platform.

“Today, because our systems are old, some of that new technology doesn’t fit well,” Farris said. “This allows us to be able to bring it on without spending a lot of time integrating it into our systems on a go-forward basis.”

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