Solifi’s recent enhancements refine the dealer and lender experience for Solifi ABL customers
MINNEAPOLIS, U.S. and MILTON KEYNES, U.K. | Oct 31, 2023. Solifi, a global fintech software partner for secured finance, announced the latest product enhancements for Solifi ABL. The releases include several new features aimed at improving efficiency through automation, reporting, and customer experience.
“We strive to enhance our ABL software to continuously improve customer experience and efficiency through automation and reporting,” said Bill Noel, Chief Product Officer at Solifi. “Our SaaS Open Finance Platform enables the release of new features which improve communication between lenders and borrowers. These reduce features reduce the requirement for manual reporting, while bringing innovation to our ABL and Receivables Financing lenders and customers rapidly and without disruption to their business.”
Solifi ABL’s new features released to date bring significant new value to customers, including:
Reporting
- Lenders can now display ticklers due on the portal, which notifies customers of past due items needing attention, allowing them to more easily communicate contract requirements to borrowers and facilitate data sharing between lender and borrower. This enhancement streamlines communication and eliminates the need for external messages, enabling quicker response times and contract compliance. Lenders can access this information through one-click reports to gain insights into business activity.
Automation
- A new module supporting broker relationships enables lenders to store details about new leads, which helps to track pipeline generation and calculate commissions. Lenders can save lead sources, values, and timestamps, making it easy to calculate commissions regularly and support brokers without using a separate system. Brokers can also run reports anytime they need them, strengthening the broker/lender relationship.
- Users can now import debtor credit limits, a feature requested by our users. This enhancement improves the accuracy of ineligible calculations and provides additional data points for a clearer view of borrower financial health. It acts as a credit limit control, preventing borrowers from exceeding their approved limit and ensuring a real-time risk assessment. This automated feature updates and offers a snapshot of owed money, reducing the need for manual reporting and processing. It’s available to all Solifi customers and includes additional functionality as part of the Codat integration, eliminating the need for manual spreadsheet data downloads for both borrowers and lenders.
Customer Experience
- Added self-service update capabilities related to branding (colors, company name, logo) which are available throughout the portal to reflect lender branding without external development resources, saving time and money. Personalized branding also acts as a security feature to signal the borrower is in the right portal.
