Merchant West Group, a privately-owned South African financial institution, will upgrade from an on-premise system to Solifi ABL on Solifi’s Open Finance Platform to support its plans to scale its asset-based lending business in the South African region over the next three years.

An established Solifi customer, Merchant West Group chose to upgrade to the latest software-as-a-service solution because it required an option with predictable costs to fulfill industry needs and manage risk while offering clients real-time account administration, access and portfolio insights.

“We are delighted to continue to support our valued customer Merchant West Group’s growth objectives,” Bill Noel, chief product officer at Solifi, said. “The fact that our customers continue to choose our best-in-class SaaS Open Finance Platform to scale their business is testament to the flexibility, reliability and trusted global expertise which Solifi deliver consistently.”

“The decision to upgrade to Solifi ABL followed a rigorous solution review and selection process that placed best-in-market customer service, security and the ability to support the scaling of the business following a period of sustained growth as priority,” Mike Brandon, managing director of Merchant West Working Capital Solutions, said. “We have enjoyed a successful relationship with Solifi over many years, and ultimately, the decision to upgrade to the Solifi ABL Open Finance SaaS platform will enable us to meet these objectives successfully as we continue our expansion”.

Some of the benefits that prompted Merchant West Group to choose Solifi’s ABL SaaS service include:

  • A predictable cost structure that removes hardware investment and enables smooth scalability for growing businesses
  • Data security standards that meet AICPA requirements for SOC 1 and SOC 2 to deliver assurance about data security and safety
  • Automated quarterly releases that maximize user value of the newest features and integrations while minimizing internal IT effort
  • A borrower portal that offers customers 24/7 access to their data and enables them to self-serve
  • Proven collateral management expertise with hundreds of global clients