Solifi (formerly IDS), a financial technology software partner for secured finance companies, has secured 11 new customers and 14 ‘go-lives’ so far in 2021. According to Solifi, the company now serves 34 of the top 50 U.S. banks, seven of the top 10 U.S. equipment financing firms (including two of the three largest independents) and three of the top five U.S. factors.
“We are thrilled to offer secured finance organizations an easier way to manage and grow their business through our open finance platform delivered via a true SaaS solution,” David Hamilton, CEO of Solifi, said. “Access to an integrated technology ecosystem gives our customers greater economies of scale with a single strategic technology partner — everything in one place — as they pursue transformation to a digital-first business model.”
Solifi delivers a portfolio of end-to-end integrated solutions for equipment, working capital (asset-based lending, factoring, wholesale/floorplan) and automotive finance firms. The company has built a technology platform that enables companies to benefit from an integrated software-as-a-service solution.
Solifi also reported that several equipment and automotive finance companies selected Solifi to transform their business operations and expand their geographical reach with multi-country implementations across Europe. For example, Solifi migrated a global networking and cybersecurity manufacturer’s equipment finance business covering 14 countries in seven months. Solifi consolidated the customer’s four contract management systems to its single SaaS platform.