CHP Consulting has released Version 5.3 of ALFA Systems, its software platform for asset and automotive finance operations.

Version 5.3 increases system automation in areas such as in-life contract changes and end-of-term processing.

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The software’s migration suite, used to onboard contracts from legacy portfolio systems, has also been enhanced to allow it to scale out and handle exceptionally high volumes from equipment and auto finance providers.

In addition, ALFA can now segment portfolios more effectively into logical business units, allowing a view into the portfolio that is customised according to the permissions of a particular user, team or division.

The software has also improved in terms of maximising the use of automated decision making during workflow processing, in order to extend the deployment of user-configurable business rules into all aspects of compliance, workflow and transactions.

ALFA’s existing library of standard industry interfaces has been extended with additional links to payment processing platforms and other industry third party service providers.

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In regards to web services, the library of standard services has been further developed in v5.3 and now incorporates a best practice guide to enterprise integration patterns.

Steve Taplin, CHP’s global sales director, said: "ALFA v5 continues to be the platform of choice for asset finance operators. As well as these many new features we’ve made advanced improvements to performance and benchmarking, added a raft of supportability features, and continued to invest considerable time and effort in research and development."