Sopra’s Financing Platform Helping Fuel Hyundai Capital America’s Expansion

Sopra’s Financing Platform Helping Fuel Hyundai Capital America’s Expansion
20.05.2020 03:39 pm

Sopra’s Financing Platform Helping Fuel Hyundai Capital America’s Expansion

Alternative Finance , Infrastructure

Sopra Banking Software announces the go-live of its Cassiopae leasing and lending software at Hyundai Capital America (HCA). Cassiopae, part of the Sopra Financing Platform, is now the servicing engine for HCA’s lending lifecycle. A key milestone in Hyundai’s global Next Generation System rollout, the US go-live follows Cassiopae implementations at HCS in Korea and Hyundai China (BHAF).

Despite the unprecedented challenges of the COVID-19 outbreak, the 15 month project was delivered on time. The successful implementation was the result of an agile, trans-global team leveraging Centers of Excellence in Korea, India, and the US. Over five million contracts were migrated.

Cassiopae replaced several legacy lending solutions, saving HCA time and cost and enabling the business to keep pace with ever changing requirements.

Cassiopae is currently managing over two million active HCA contracts. The new system integrates previously separated auto retail and lease management systems.

HCA has already seen a 43% reduction in overlapping data among different functions within the company. Data volume has been reduced by two thirds and we expect a significant reduction in data errors. Cassiopae’s flexibility is enabling HCA to boost its marketing capabilities, making it easier to address changes in market conditions.

“Hyundai Capital America now has an advanced IT system best-optimized for its market,” commented Hwanjun Yang, Senior Vice President & CIO at Hyundai Capital America. “The system will help facilitate Hyundai Capital Services’ ambitious global expansion plans.”

Over time, HCA expects additional benefits to include: reduced time and cost, reduced time to bring new system to other Hyundai entities, and better resource sharing among global entities. Plans for bringing the system to additional Hyundai entities are underway.

“We are really happy to work with Hyundai in this ambitious international project and to go live in the United States on time despite the Covid-19 situation. We look forward to the next phases of Hyundai’s global roll out.” comments Eric Bierry, CEO Deputy at Sopra Banking Software.

Related News

ezbob Submits Bid for Part of BCR’s £100m Pool E

ezbob, an established technology provider that powers the digital SME lending arm of several UK banks has today announced that it has submitted its proposal for part of the BCR... Read more »

Curve Credit Waitlist Launches

Curve Credit, the... Read more »

Sopra Banking Software Releases Cassiopae V4.7 as Scheduled

Sopra Banking Software released on March 31 Cassiopae V4.7, a leasing and lending application, which is part of the company’s Sopra Financing Platform. The company met the... Read more »

Washington Trust Bank Expands Partnership to Baker Hill NextGen

Baker Hill, the leading financial technology provider in delivering solutions for common loan origination, risk and relationship management, CECL, and smart data analytics,... Read more »

Smartlands to Revise and Expand Legal Framework, Base Future Projects on Liechtenstein Law

Smartlands, the next-generation blockchain-based global investment and digital banking ecosystem, will be expanding its legal framework in... Read more »

State Street Announces New Partnership With iCapital Network

State Street Corporation (NYSE: STT) today announced it has entered into a new partnership with iCapital... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel