FinSoft, a producer of several asset-based lending software products which focus on due diligence for field examinations and operations, has updated its AssetArchive software and the related AssetArchive Confirmations module.

AssetArchive holds imported data from AssetReader to allow for trends and analytics over time. Enhanced analytics for 2017 pinpoints data flaws and allow both operations and account officers/account executives to focus on potential fraud balances and invoices.

The updated AssetArchive Confirmations includes almost 1,000 hours of enhancements to the existing core code for 2017. Intelligence and features provide turn-key workflows to get confirmations done by e-mail, fax, postal or telephone confirmation techniques.

“FinSoft continues to evolve and expand the offerings that are just not available or are an afterthought in other systems,” said Joseph R. Caplan, CPA, managing director of FinSoft.

“This changes everything,” Caplan noted when speaking about the AssetArchive product and AssetArchive Confirmations module add-on. “For the history of asset-based lending it has been only the factors that could use detailed data while the ‘bulk’ report-based asset-based lenders could not price detailed monitoring into their products. With the ability to download data from a variety of different formats and systems with AssetReader, coupled with a very low cost, the monitoring and fraud reduction is now available to all with AssetArchive products.”

“Lenders can continue to use their existing loan monitoring systems and enhance them with AssetArchive and AssetArchive Confirmations. We’ve taken the same data that is already being imported with AssetReader for monthly monitoring and created AssetArchive to analyze the data over time,” Caplan noted.