The investment in Alfa’s cloud-based platform will be integral to Hampshire Trust Bank’s digital strategy to deploy ‘best in breed’ software and services, bank executives say.
The asset finance specific leasing administration system streamlines operations through automation and enables both high-volume transactions and complex leases.
Paul Bartley, managing director of the asset finance division at Hampshire Trust Bank (pictured), an AF50-listed company, said it would help to drive a clear and complete customer journey from originations, to point of sale, collections and recovery.
He added: “We are delighted to have partnered with Alfa. The Alfa Systems platform will prove to be a great investment as we establish the foundations for our reformed specialist asset finance division.
“This demonstrates the significant commitment of the board and executive team to the growth of the asset finance division. We anticipate that this software will give us 300% more functionality and significantly improve our settlement and payout turnaround times to help us better serve our customers and suppliers.”
Alfa has more than 30 clients in 26 countries, served from offices across Europe, Asia-Pacific and the US.
Andy Denton, Alfa’s chief executive officer, said: "We’re thrilled to be collaborating on this rapid implementation with Hampshire Trust Bank, a challenger bank with big aspirations and a clear view of how they’ll achieve them. Most of all we’re happy to work with such a capable group of people.”