ALS-AF is an integrated loan and lease receivables system. A key aspect of the renewal is that Fidelity will continue to process loan and lease accounts for Ford Motor Credit from Fidelity's data center in Little Rock, Arkansas. Also as part of the agreement, Fidelity will provide global support services.
Fidelity began its relationship with Ford Motor Credit in 1990 by providing automotive finance software and services. In 1998, Fidelity and Ford Motor Credit contracted to develop ALS-AF. The resulting system enabled Ford Motor Credit to integrate its North American loan and lease legacy systems onto a single platform. The extension renews the North American relationship, and has also expanded the scope to include Ford Motor Credit's loan and lease portfolios in the UK and German markets.
Fidelity's Automotive Finance Division Managing Director, David Slider said, "Ford Motor Credit has been an important client for Fidelity and a solid partner in developing and executing successful win-win strategies.
This renewed commitment to our relationship is a testament to that success. The benefit of working with an industry leader in the development of the ALS-AF application has helped ensure in our success in our ALS-AF re-marketing efforts"