ALFA FINANCIAL SOFTWARE HOLDINGS PL

Management Reports • Jun 26, 2017

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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

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