IDS, a provider of enterprise solutions for secured finance, completed the migration of IDS ABL to IDScloud, a software-as-a-service-based solution for secured finance. Asset-based lenders now can gain access to real-time portfolio insights to mitigate risk and ensure collateral value. IDScloud also provides a borrower portal enabling self-service funding requests and document submission.
“When IDS acquired the ABL solution from Stucky in February of this year, we immediately began the process of migrating to IDScloud,” Bill Noel, CPO at IDS, said. “This is a critical path in our product strategy —to build world-class SaaS applications on our secured open finance platform and delivered through IDScloud. This foundation provides IDS with the unique ability to deliver value to customers through both the application, which meets the specific business need, but also through the platform, which enhances the application with additional ecosystem integrations and services.”
IDS ABL provides a real-time view of a client’s current collateral value, giving lenders the ability to control risk and make immediate adjustments to credit availability. With built-in analytics, the solution flags unusual activity, triggering additional documentation to ensure collateral value. The solution provides a borrower portal for clients to self-serve with BBC and document positing, funding requests and report retrieval, freeing up collateral analysts to focus on new business growth.
“We are excited to offer IDS ABL on IDScloud,” Lisa Nowak, director of SaaS and marketplace platforms at IDS, said. “Our technology vision for IDScloud is to provide a scalable and secure platform to support quick delivery of any of our secured finance applications. With over 65% year-over-year growth in new customers adding over $15 billion of net asset value (NAV) committed to the platform, it is clear we are meeting a market need for the efficiency gains and application support that come with a true SaaS solution. With IDS ABL now on IDScloud, customers benefit from the innovation, scale and data access of IDScloud, keeping them one step ahead of risk and competition.”