BIRMINGHAM, Mich. –

Alfa recently released an update for its software platform for asset finance, Alfa Systems.

Refined during 18 months of development, the company highlighted that Alfa Systems 5.6 brings together of important new features, including a comprehensive redesign of the user experience. The update also marks the availability of Alfa Start, a new preconfigured edition of the software

Furthermore, Alfa said that its software update includes tools to enable the transition away from LIBOR and similar interest calculation rates towards new, risk-free rates such as SONIA and SOFR.

Finally, the company said the release also introduces usage-based billing and cash accounts, among many other features and enhancements.

“I’m delighted to announce the latest release of Alfa Systems. It includes an exciting overhaul of the entire UI and user experience, designed in close collaboration with our end users and following the design thinking methodology,” Alfa chief executive officer Andrew Denton said in a news release.

“In usage-based billing and cash accounts, we’ve introduced some vital product changes to give asset finance businesses more flexibility in the way they do business in their market,” Denton continued.

“We’ve also introduced Alfa Start, a preconfigured offering to get projects up and running quickly. Alfa continues to help people in asset finance operate efficiently and competitively,” he went on to say.

For more information, visit alfasystems.com.