IT Services provider TietoEnator has announced that Alliance and Leicester has completed the final stage of its project to migrate the bank’s lease administration system to a fully hosted service.
TietoEnator will now take full responsibility for everything from software development to system infrastructure. The bank is also expected to benefit from fixed IT costs and improved disaster recovery.
According to the company, Alliance and Leicester will continue to use the TietoEnator Instalment Credit Suite lease administration system to manage its portfolio of asset finance contracts.
Dave Storey, systems administration manager, Alliance and Leicester Commercial Bank, said: A fully hosted managed service brings a number of benefits to the bank. We now have a one-stop service from TietoEnator with the organisation taking full responsibility for all aspects of running the Instalment Credit Suite from software development to system infrastructure, reducing the bank’s need to rely on more than one third party for support. In addition, we also benefit from fixed IT costs; improved disaster recovery with the business able to recover almost immediately from a break in service; and a faster, more robust system which ensures continuity of service to our customers.
The deal will also see the bank upgrade its lease administration system to v10 of the TietoEnator Instalment Credit Suite. This will enable Alliance and Leicester to comply with the Consumer Credit Act changes due in October 2008.
According to the company, the new system will also enable the bank to introduce additional products and services, aimed at customers and introducers including a new front end proposal system. They are also hoping to introduce a fully automated stock system in the future.
These changes will enable us to further simplify our processes, which in turn will allow us to provide additional tailored products for the Commercial Asset Finance markets, said Storey.
As part of the deal, Alliance and Leicester will migrate its platform from VMS to Unix.