Changing the Game in Originations: Part 2
Real Steps You Can Take, Right Now
In the three-part Changing the Game series, we explore composable workflows, agile campaign management, and the benefits of a modern, consolidated technology landscape.
To maintain its competitive edge, an auto lender's underlying technology must be inherently flexible. Legacy systems damage productivity and limit growth, but real features in Alfa Systems 6 - designed meticulously by our expert teams, and drawing on customer insights - align perfectly with those flexibility needs.
Workflow acts as the quarterback, orchestrating automation, queue management, and hand-off for manual intervention. Using Compose, personalized screens are created and included in workflows in seconds, improving flow and reducing users' cognitive load. Meanwhile, the Business Rules Engine presents users with relevant information dynamically. Together, these features deliver a clear and engaging experience, driving efficiency throughout the operation.
Bringing automation to credit and funding rates is a common focus for new technologies, but onboarding and embedding these innovations can be complex, often requiring deep engagement with platform vendors.
At Alfa, we believe such endeavors should be simple. With true application ownership in place, Alfa Systems 6 customers can be agile with their campaign management, and perform new integrations themselves.
A unified platform for wholesale, originations, and servicing simplifies operations and ensures consistent and accurate data sharing across pricing, credit, and funding processes - eliminating the need for complex system integrations.
This configurability allows for real-time data analysis, enhancing decision-making and strategic planning. Features such as the quick-quote tool ensure consistent pricing and customization, based on customer behavior. Alfa Systems enhances customer and dealer experiences, enabling informed decisions, and supporting advanced features like multi-asset leasing and direct lending, all delivered through a proven and scalable methodology.
Part 2. Boosting Flexibility through Agile Campaign Management
In auto finance originations, bringing high levels of automation to credit and funding rates offers clear benefits, so it's a common focus for new technologies. But onboarding and embedding these innovations isn't always straightforward, and can demand heavy engagement with core platform vendors (read: an ordeal).
Some of our competitors will get that new point solution working on their platform, but they'll do it by writing custom code rather than through configuration, which could take months, and incur higher costs.
Depending on a planned software release or nasty workarounds to update campaign data can be a full-time job. The whole situation is time-consuming and complicated. Alfa Systems 6 offers the capability to update this data as frequently as needed, allowing auto lenders to be responsive in their market activity.
This principle extends to campaign management. In some scenarios, auto lenders are faced with a situation where the pricing and subsidy data used on dealer campaigns need to be updated manually, with the only method of pushing it to live production being via a planned software release - again, potentially taking months. In other cases, users depend on nasty workarounds involving spreadsheets and custom tools to update that data. If dealer campaigns change regularly, this can be a full-time job. The whole situation is time-consuming and complicated.
Alfa Systems 6 offers the capability to update this data as frequently as needed, either directly within the application, or through seamless integration with external rate platforms - eliminating the need for complex platform configuration merges and, crucially, allowing auto lenders to be responsive in their market activity.
Moreover, our solution empowers its customers to customize data granularity according to their needs, utilizing both conventional and unconventional data points to inform pricing decisions. This is backed by bulletproof audit capabilities, allowing the simple understanding of why a particular set of pricing data was used for a given credit application.
With true application ownership in place, Alfa Systems 6 customers can be agile with their campaign management, and perform new integrations themselves.
Such flexibility is ingrained throughout the platform. Users can dictate exactly when an additional service is engaged; for example, calling IDP software for document validation checks - but only for certain regions or customer types. Similarly, when running a pilot - of, say, fraud protection AI software - then that can be called only for a specific percentage of credit applications, with real-time reporting allowing users to examine its performance and evaluate the basis for a wider rollout. Workflow configuration in Alfa Systems puts this in the hands of our customers.
At Alfa, we believe such endeavors should be simple. Our delivery methodology places application ownership as a cornerstone, empowering Alfa Systems 6 customers to be agile with their campaign management. And with true ownership in place, they can perform new integrations themselves, leveraging a robust and wide-ranging API catalog that supports proven performance at scale.
To find out about how Alfa Systems 6 can transform your business, open up new revenue streams, and bring heightened productivity to your operation, visit alfasystems.com/6.
Frictionless for existing customers, Alfa Systems 6 is founded upon six pillars.
Already released
Coming in 2024
Systemized decision-making through AI and rules-based workflows.
Simple integration with market innovations and through Alfa’s trusted partner network.