You are here: silicon.com > Financial Services > News

Alliance & Leicester aims to ditch paper

Hosted lease management deal for corporate banking arm

Tags: hosting, leasing, commercial banking

By Julian Goldsmith

Published: 22 August 2008 15:51 GMT

Alliance & Leicester Commercial Bank (A&LCB), the corporate banking arm of the bank, has signed a hosting agreement with TietoEnator for an application suite that manages lease arrangements for the bank's asset finance products.

The contracts are used by companies to finance the acquisition of assets, such as plant machinery or commercial vehicles.

silicon.com Financial Services

Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!

Speaking to silicon.com, A&LCB director of lending operations Martin Evans said the bank's primary business in this area was in commercial vehicle and car leasing arrangements.

The bank already used the application suite, called Instalment Credit Suite, but hosted the software on its own servers, which it paid a third party to maintain.

The five-year deal also involves the bank upgrading to the latest version of the application suite, which Evans explained would allow it to completely remove the paper trail in the process of selling and setting up the lease contracts.

He said: "The new hosted contract will allow us to process more business with the same people. There is a strong possibility that we will be able to offer a better service to our broker and vehicle dealer partners, should they choose to adapt to the new system."

Evans said he hoped to remove paper from the process by mid-2009.

  1. Zones
  2. Management
  3. Networks
  4. Software
  5. IT Services
  6. Hardware
  1. Verticals
  2. Public Sector
  3. Financial Services
  4. Retail & Leisure

silicon.com Financial Services
Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!


  • Jobs
Business Analyst 1st Class Degree,

WORK ACROSS ALL ASSET CLASSES! My client est.is a fantastic niche software company / consultancy serving the hedge fund / prime brokerage cross ...

Production and Installation Manager

You will be reporting to the Senior Project Manager, the successful candidate will be involved in the delivery of large projects involving heavy ...

IT Systems Support Manager

Conduct regular quarterly and annual audits for all the IT systems Deliver basic IT user best practice guidance, where applicable, to end-users, ...

Nick Beecham and Belinda Doshi
No more tax breaks for offshoring?
Financial services firms must prepare now for 2010 legal changes

Tim Ferguson
On a new Voyager, tackling fraud and the intellectual challenge
Interview: Nationwide IT director, Peter Stafford

Nick Heath
David Lister on smart grids and why he left RBS
Interview: National Grid CIO

Andy Jones
Why banks will push ahead with offshoring
Comment: Even if they don't want to

Catherine Stagg-Macey
Legacy IT holding back insurers
Comment: Economic crisis means finance giants must step lively

Julian Goldsmith
The City fund manager with no IT department
Q&A: How asset management is embracing the cloud...

Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.




Quick Sitemap Links: