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Alphabet's 'icon' leasing platform wins major industry award for digital innovation

13 December 2016 - 'icon', the ground-breaking vehicle leasing IT platform developed originally for the Alphabet Partner leasing broker network, has won the Leasing Life Digital Innovation of the Year 2016 Award.

The judges praised the system for setting new standards for flexibility and innovation.

So successful has 'icon' proved for the 40 brokers in the exclusive Alphabet Partner network that 2016 saw further investment in the platform and the system being made more widely available to the SME market.

‘icon’ puts dynamic, real time pricing information at brokers' fingertips, simplifying and streamlining a complex process and enabling brokers to provide their customers with an experience more akin to that of a retail customer.

The platform allows the broker or dealer to virtually walk a customer around a car to build both the vehicle and the leasing contract to the customer’s precise specification and requirements.

Once a customer has chosen their vehicle and options, the advanced calculation engine at the heart of the ‘icon’ system performs literally thousands of quotes per second which are then visualised in its unique ‘Deal Selector’. These are graphically displayed so that the broker/dealer can see the full spectrum of options including initial and monthly payment, contract term and mileage options available and help the customer choose which best suits their needs.

Leasing Life said that the platform "pushes the digital envelope on flexibility for Alphabet's clients, and the definition of digital innovation." The judges also noted the extremely positive feedback in references from users.

Brian Cantwell, Editor of Leasing Life commented: “Nominations for the Leasing Life awards were extremely competitive this year. There was a surge of interest in our new awards categories, covering the extended SME market and areas such as digital innovations and sustainability,” says Cantwell. “Our judging panel had a really tough time picking the winners as the competition was so close.”

Graham Conway, Head of Alphabet Partner, said: "We set out in 2014 to change the face of lease brokering with Alphabet Partner and its unique 'icon' system. It's fantastic to receive yet more recognition for the success we've achieved so far.

"As the UK vehicle leasing market becomes increasingly competitive, business customers are, rightly, ever more demanding. Adding value to a relationship through service and expertise are the key differentiators when business customers choose a provider.

"The continuous development of ‘icon’ since its launch is solidly based on users’ feedback. Alphabet’s SME channel partners have played, and will continue to play, a massively important role in how we develop the platform."

Earlier this year, Alphabet Partner and the ‘icon’ won the ‘Best Product or Service Innovation in Fleet Finance’ category at the International Auto Finance Network (IAFN) Awards, while Alphabet was also highly commended in the category of ‘Best use of Technology’.