IDS announced it added four new customer wins during first quarter of 2021. They include two start-up equipment finance operations; Metropolitan Capital, a universal bank expanding into asset-based lending (ABL); and a top five U.S. bank, which implemented IDS | ABL. The company is also on record pace to complete 14 go lives by the end of the first half representing a 40% increase over 2020.
“Our strategic vision is to provide solutions that support the growth aspirations of any size secured finance firm,” stated David Hamilton, IDS CEO. “We are excited to work with some of the most innovative companies in the market, ranging from start-up operations to one of the largest financial firms in the world. Providing best-in-class functionality in an easy-to-use pay-for-what-you-use platform is at the heart of our technology investment. I firmly believe that this value, coupled with our dedication to building long-standing partnerships, is central to our continued success.”
A key driver of IDS’ growth is the continued investment in IDScloud™, the leading software-as-a-service (SaaS) platform. IDScloud provides secured finance firms with the technology foundation needed to efficiently grow their business by only paying for what they use. IDS is projected to double the amount of net asset value (NAV) running on the system from Q1 2020 with this innovative pricing model. Customers currently operating their secured finance business on IDScloud include a strong mix of banks, independents/specialty finance and captive finance organizations across North America, Europe, Middle East, Africa (EMEA) and Australia.
IDScloud innovations and security validation completed in Q1 include:
- IDScloud | DataStream: first customers now live receiving near real-time data – streamed securely to enable ongoing use in reporting, analytics, upstream integrations.
- Developer Portal: first version now live enabling technical users to seamlessly leverage IDScloud’s integration capabilities (tools, sample apps, etc.) for build and test.
- IDScloud | Pricing Microservice: Full pricing solution for simple through multi-variable complex pricing structures designed to seamlessly integrate into any origination system.
- SOC 1 validation: IDScloud completed the six-month audit period receiving SOC 1® Type 2, SOC 2® Type 2 and SOC 3® validation. The public portion of the third-party validation report can be found on the IDS website.
For more information about IDScloud, please visit https://www.idsgrp.com/ids-cloud/