Solifi’s latest product enhancements for Solifi ABL included 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,” Bill Noel, chief product officer at Solifi, said. “Our SaaS Open Finance Platform enables the release of new features which improve communication between lenders and borrowers. These 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 include:

• Reporting. Lenders can now display ticklers due on the portal, which notify customers of past due items needing attention, allowing them to communicate contract requirements to borrowers and facilitate data sharing between lender and borrower. Lenders can access this information through one-click reports to gain insights into business activity.
• Automation. A new module supporting broker relationships will enable lenders to store details about new leads to help track pipeline generation and calculate commissions. Lenders can save lead sources, values and timestamps. Brokers can also run reports anytime they need them. Users can now import debtor credit limits. This enhancement was designed to improve the accuracy of ineligible calculations and provides additional data points for a clearer view of borrower financial health. It can act as a credit limit control, preventing borrowers from exceeding their approved limit and providing a real-time risk assessment. This automated feature updates and offers a snapshot of owed money, potentially reducing the need for manual reporting and processing. It is available to all Solifi customers and includes additional functionality as part of the Codat integration.
• Customer Experience. Added self-service update capabilities related to branding (colors, company name, logo) are available throughout the portal to reflect lender branding without external development resources. Personalized branding also acts as a security feature to signal the borrower is in the right portal.