ABL software release increases borrower and lender self-service control, improves risk management oversight, and facilitates audit compliance
MINNEAPOLIS, U.S. and MILTON KEYNES, U.K. | Nov. 9, 2022 Solifi, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve the lender and borrower experience through self-service functionality, gain insights into portfolio risk, and increase efficiencies through enhanced audit compliance and visibility. Solifi’s ongoing product development delivers innovation quickly through its software-as-a-service (SaaS)-based open finance platform, allowing customers to focus on building their business and onboarding new customers.
“Our newest ABL software release eliminates time-consuming low-value activities with more self-service functionality, a clear line of sight into portfolio risk in near real-time, and easier access to historical data for audit compliance,” says Bill Noel, chief product officer (CPO) of Solifi. “With our SaaS-based open finance platform, we release new features quarterly for our ABL lenders – allowing them to focus on portfolio growth without the distraction of on-premises upgrades.”
This latest quarterly release of Solifi’s ABL software brings significant new value to customers, including:
More borrower control
• Enhanced portal user profiles with 24/7 self-service functionality enables borrowers to grant permission levels to appropriate team members – empowering them to manage their accounts, while reducing administrative tasks by lenders, and ensuring better compliance and security.
Improved risk management oversight
• Near real-time aging comparison reporting functionality allows lenders to examine changes in their accounts receivable collateral more frequently than monthly – provides better oversight and opportunity to act immediately on under-performing accounts, and results in a closer representation of actual money borrowed and available collateral.
Enhanced audit compliance and visibility
• Archived data from historical tables and databases retrieval lets lenders retrieve cold-storage reports on terminated clients, enabling quicker responses and fewer internal resources needed to gather required audit information.
Get in touch to find out how Solifi can help improve the ABL customer experience, increase risk management capabilities, and enhance audit compliance. You can stay up-to-date with all our new asset-based lending software features and other secured finance product releases by joining the Solifi LinkedIn community.