Solifi (formerly IDS), a global fintech software partner for secured finance, announced it has secured 11 new customers and 14 go-lives to date in 2021. With its unique open finance platform driving record-breaking growth and digital transformation, the company now serves 34 of the top 50 U.S. banks, seven of the top 10 U.S. equipment financing firms, including two of the three largest independents, and three of the top five U.S. factors.
“We are thrilled to offer secured finance organizations an easier way to manage and grow their business through our open finance platform delivered via a true SaaS solution,” said David Hamilton, Solifi CEO. “Access to an integrated technology ecosystem gives our customers greater economies of scale with a single strategic technology partner – everything in one place – as they pursue transformation to a digital-first business model.”
Solifi delivers a global portfolio of end-to-end integrated solutions for equipment, working capital (asset-based lending, factoring, wholesale/floorplan), and automotive finance firms. It has built a market-leading technology platform that enables companies to benefit from an integrated and efficient software-as-a-service (SaaS) solution. The same pay-for-what-you-use technology it deploys at large, global banks, independent and captive finance firms is the same technology and level of service it offers to growth stage organizations that benefit from a consumption-based, not user-based, pricing structure.
The open finance platform is also driving strong growth across Europe. The company recently announced several leading equipment and automotive finance companies selected Solifi to transform their business operations and expand their geographical reach with multi-country implementations across Europe. For example, it successfully migrated a global networking and cybersecurity manufacturer’s equipment finance business covering 14 countries in only seven months. Its highly experienced team consolidated the customers four contract management systems to Solifi’s single and scalable SaaS platform.