Paris, 20th May 2020 – 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.
About Hyundai Capital America
Headquartered in Irvine, CA, Hyundai Capital America is a top-10 U.S. auto finance company supporting the financial services needs of Hyundai Motor America, Genesis Motors, and Kia Motors America. Through the Hyundai Motor Finance®, Genesis Finance®, and Kia Motors Finance® brands, the company provides financial products to Hyundai, Genesis, and Kia dealerships nationwide, including dealer inventory and facility financing, as well as indirect vehicle financing for retail and lease customers. Through these dealerships, the company serves more than 1.7 million retail customers. In addition to its two offices in Orange County, CA, Hyundai Capital America has customer support centers in Atlanta and Dallas.
Kia Motors Finance is the registered trademark of Kia Motors America, Inc. and is used with permission.
Genesis Finance does business in the State of Utah as Genesis Finance USA.
About Sopra Banking Software
With 5000 experts, a pro forma turnover 2019 of € 438,9 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 1500 banks and financial entities in more than 80 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development, with more than 46 000 employees. In 2019, Sopra Steria generated a revenue of € 4,43 billion. For more information follow us on twitter @SopraBanking or visit www.soprabanking.com
Press contacts
Sopra Banking Software Global: Stéphanie DECORTIAT, +34 652 896 253, [email protected]
Sopra Banking Software UK: Natalie SWEET, +44 7966343907, [email protected] / USA: Dana WEBSTER, +1 978 857 7400, [email protected]