Solifi (formerly IDS), a global fintech software partner for secured finance, announced Sunflower Bank as its first client to move mission-critical asset-based lending (ABL) operations to the Solifi software-as-a-service (SaaS) platform. Solifi completed migration of its end-to-end ABL SaaS solution earlier this year.

Headquartered in Denver, CO, Sunflower Bank, N.A., is a regional bank founded over 129 years ago. Operating as Sunflower Bank, First National 1870 and Guardian Mortgage, it is a relationship-focused full-service financial institution meeting the business, personal and wealth management needs of its clients. Sunflower Bank, N.A. has bank locations in five states, mortgage capabilities in more than 40 states, and a national reach for its commercial and specialty lending verticals.

“We welcome this partnership and the opportunity it brings to provide our customers with these new cloud-based platform applications as part of our product and service offerings. This will help Sunflower Bank, N.A. realize our strategic growth plans for ABL with our existing and future client base,” said Doug Vitek, SVP, ABL Managing Director.

“We, at Sunflower, are excited to partner with Solifi, and we are thrilled with the support we have received as their first client to migrate ABL systems operations to the new open finance platform.  Our internal partners and our customers will benefit from the new advancements, efficiencies, and privacy security that this powerful cloud-based enterprise application brings to Sunflower Bank’s complete product offering,” added Barbara Fink, VP, ABL Operations.

ABL firms like Sunflower Bank benefit from Solifi’s single technology foundation to solve the top challenges they and other asset-based lenders face today. Platform users:

• Mitigate the risk of fraud proactively and in real-time rather than taking the historical reactive approach (e.g., built-in analytics to flag unusual activity in real-time, keep loans from becoming undercapitalized, etc.)
• Access data streaming capabilities in near real-time to turn data into business insights quickly, to be used alongside other enterprise data sources for deeper insights, reporting, and to anticipate customer problems before they happen
• Automate common touchpoints with a 24/7 self-serve web-based borrower portal to automate the workflow (e.g., easily attach supporting documentation) and answer frequently asked questions online, which improves the customer experience and frees up time to consult with customers on situations that require personal interaction

“Welcoming Sunflower Bank as our first ABL customer to our SaaS platform is a huge milestone as we provide solutions and value by turning a fragmented industry into a global, holistic partnership,” said Bill Noel, Chief Product Officer (CPO) at Solifi. “Our innovative business model enables us to provide Sunflower Bank an integrated and efficient operating system to rapidly launch new products, services, and features with confidence.”

Solifi’s singular open finance platform elevates the industry because it’s accessible for everyone, essentially democratizing technology so that any size lender can benefit. The platform also allows finance organizations to scale fast and is “future-proof” in that Solifi continually evolves to provide technology and integrations to help its clients stay ahead of the competition.