Alfa Financial Software Hldings PLC Statement re New Customer Win (0724J)
June 26 2017 - 1:00AM
UK Regulatory
TIDMALFA
RNS Number : 0724J
Alfa Financial Software Hldings PLC
26 June 2017
26 June 2017
Alfa Financial Software Holdings PLC
New implementation contract signed
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
a leading developer of mission critical software for the asset
finance industry, is pleased to announce a significant new contract
win with a large US auto finance company (the "Client"). The Client
has more than 800,000 customer accounts under management.
This exciting contract win of a complete portfolio
implementation, at the upper end by total contracted value relative
to other major Alfa implementations, is expected to kick off in the
second half of this year. This new contract draws on Alfa's
extensive experience implementing Alfa Systems in the automobile
vertical, specifically in relation to high volume fleets of assets.
Total contracted value includes licence fees for an initial
contract quantity, estimated implementation revenues, development
revenues and three years of maintenance revenues. This contract
reinforces our confidence in our plans for 2018 and 2019 as set out
in our IPO documents.
Andrew Denton, Chief Executive of Alfa said:
"This contract win clearly represents an important expansion of
our US business, building on the success of other completed
implementations this year. The Client is replacing a number of
legacy systems with Alfa Systems, not only so it can realise
operational and financial efficiencies but also to provide the
Client's management with high quality consumer insight and
merchandising intelligence - which is invaluable to their ongoing
success in this sector. Our proven contract win momentum
demonstrates our excellent delivery model, as well as continued
product innovation. The start of this new client relationship
complements our recent European equipment contract win, providing
increasing breadth and diversity across our client base."
Enquiries
Alfa Financial Software
Holdings PLC
Andrew Denton, Chief
Executive
Viv Maclachlan, Chief
Financial Officer +44 (0)20 7588 1800
Tulchan Communications
LLP
James Macey White
Matt Low +44 (0)20 7353 4200
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 mean that we deliver the largest software
implementations and most complex business change projects. With an
excellent delivery history over nearly three decades in the
industry, Alfa's track record 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, the opportunities that Alfa
Systems presents to asset finance companies are clear and
compelling.
With over 40 clients in 18 countries, Alfa has offices in
Europe, Asia-Pacific and the United States. For more information,
visit alfasystems.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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