Solifi announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to provide a richer experience for customers and lenders, mitigate risk, and streamline processes. As more ABL finance lenders move their business operations to the cloud and adopt a software-as-a-service (SaaS)-first strategy, Solifi’s ongoing product development delivers innovation at a rapid pace through its open finance platform.

“We are always looking to enhance our ABL software to make the customer experience better, provide more control over risk, and deliver greater process efficiency through our platform,” says Bill Noel, chief product officer (CPO) of Solifi. “Our SaaS-based open finance platform enables the rapid release of new features to bring innovations to our ABL lenders and customers faster than traditional upgrade cycles and without disrupting their business.”  

This latest quarterly release of Solifi’s ABL software brings significant new value to customers, including:

Elevated customer experience

• Enhanced ABL borrower portal with 24/7 self-service functionality gives customers credit line access, financial information, and user administration – anywhere, any time – empowering them to manage their accounts, while reducing administrative tasks by lenders.

Increased risk management

• Greater risk controls for demand deposit accounts (DDAs) – the addition of a maker checker process (e.g., dual approval to verify transaction changes) reduces the risk of unauthorized actions and internal fraud.

• EQ Riskfactor partnership provides actionable insights for ABL lenders to maximize loan performance, minimize risk, and predict creditworthiness or likelihood of defaults through artificial intelligence (AI) modeling within a single dashboard.

Process efficiency

• Streamlined end-of-day (EOD) and end-of-month (EOM) batch processes increase ABL lender productivity by scheduling updates and fully automating repetitive daily and monthly tasks, eliminating manual checklists, improving timeliness of reporting, and removing potential compliance breaches due to human error.

Get in touch to find out how Solifi can help improve the customer experience, increase risk management capabilities, and streamline ABL finance business operations. 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.

For more asset-based lending news, visit ABL Advisor.