Sopra Banking Software announced 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 U.S. 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 U.S. More than 5 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 managing over 2 million active HCA contracts. The new system integrates previously separated auto retail and lease management systems.
HCA has already seen a 43 percent reduction in overlapping data among different functions within the company. Data volume has been reduced by two-thirds and the company expects 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 and 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,” said Eric Bierry, CEO Deputy at Sopra Banking Software.