Alfa Financial Software Hldgs PLC Contract (6325G)
March 18 2020 - 7:23AM
UK Regulatory
TIDMALFA
RNS Number : 6325G
Alfa Financial Software Hldgs PLC
18 March 2020
18 March 2020
Alfa Financial Software Holdings PLC
New contract win
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
the leading developer of mission-critical software for the asset
finance industry, is pleased to announce a new contract win with a
major South African bank.
We expect this new contract to rank in the upper tier, by
monetary value, relative to other Alfa implementations. The
agreement includes consultancy services to support a multi-phase
implementation and a multiple-year Alfa cloud-hosting
arrangement.
Alfa started working with the bank in April 2019. Revenue for
the work carried out in the initial design phase was recognised
within the Company's Ongoing Development and Services revenue
segment. The subsequent implementation work, which started in
October 2019, will be recognised within the Implementation revenue
segment of the 2019 full year results.
Revenues from the continuing implementation programme provide a
further underpin to the Company's expectations for 2020 and beyond
.
Andrew Denton, Chief Executive Officer of Alfa said:
"We are proud to be able to announce this new contract to
implement Alfa Systems with one of the leading banks in South
Africa, as part of its transformational IT programme. This
partnership underlines Alfa's ability to provide compelling
business solutions in new geographies. This important new contract
win demonstrates the Company's increasing success at converting
late-stage prospects into long-term relationships, across multiple
markets and industry sectors."
Enquiries
Alfa Financial Software Holdings
PLC
Andrew Denton, Chief Executive
Officer
John Miller, Interim 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
facilitates our delivery of large software implementations and
highly complex business change projects. With an excellent delivery
history over nearly three decades in the industry, Alfa's
experience and performance 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, Alfa Systems provides compelling
solutions to asset finance companies.
Alfa Systems supports portfolios in 20 countries and Alfa has
offices in Europe, Asia-Pacific and North America. For more
information, visit www.alfasystems.com.
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END
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