Company recognized for its groundbreaking mobility finance platform and IT innovation
PLANO, Texas (March 22, 2021) – IDG’s CIO has named Toyota Financial Services (TFS) as a 2021 CIO 100 award winner. For more than 30 years, the CIO 100 awards have recognized innovative organizations around the world that exemplify the highest levels of Information Technology (IT) strategic and operational excellence.
TFS is recognized for its new Mobility Finance-as-a-Service (mFin) platform the company launched in April 2020. The mFin integrated platform uses groundbreaking multi-tenant architecture at an enterprise scale, using a combination of cloud-based services to provide all the capabilities that an automotive company needs to run their entire financial services business. Over 20 technology services suppliers partnered to build mFin, ahead of schedule and retaining the highest levels of quality.
“We are incredibly proud of the CIO 100 recognition of our TFS business transformation enabled by innovative IT practices,” said Vipin Gupta, TFS Chief Information Officer. “Our multi-tenant, mobility finance platform is helping transform our captive financial services business into a mobility finance business for many brands.”
To drive this crucial transformation, TFS has reimagined the IT operating model into digital product factories, combining Toyota Production System (TPS) methodology and agile software practices. The company has developed innovative mobility products and added brands on the mFin platform, while still supporting a leaner IT-business operating model and increasing “time to market” speed. This revolutionary approach has enabled TFS to not only onboard a new private label client, but also significantly expand its dealer and customer base, increase and diversify its revenue streams, and further establish itself as a digitally-enabled mobility company.
“This year’s CIO 100 class demonstrates an amazing array of initiatives. Many helped their organizations thrive during the dark days of the coronavirus pandemic, whether by directly addressing new realities in health care or business or expediting digital adoption to adapt,” said Anne McCrory, Group VP, Customer Experience & Operations, IDG Communications, Inc. “We are honored to showcase these achievements and the spirit behind them at this year’s virtual CIO 100 Symposium & Awards in August.”
TFS, as well as other 2021 CIO 100 award winners, will be recognized virtually at the CIO 100 Symposium & Awards.
About Toyota Financial Services
Toyota Financial Services (TFS) is the finance and vehicle protection products brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). The company services Lexus dealers and customers using the Lexus Financial Services brand. As of March 31, 2020, TFS employed approximately 3,300 team members nationwide, and had assets totaling nearly $126 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation. We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our posts on Twitter at www.twitter.com/toyotafinancial.
About the CIO 100 Awards
The annual CIO 100 Awards celebrate 100 organizations and the teams within them that are using IT in innovative ways to deliver business value, whether by creating competitive advantage, optimizing business processes, enabling growth or improving relationships with customers. The award is an acknowledged mark of enterprise excellence.
CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio provides business technology leaders with analysis and insight on information technology
trends and a keen understanding of IT’s role in achieving business goals. CIO is published by IDG Communications, Inc. Company information is available at http://www.idg.com.