Finley, a debt capital management platform, launched the Finley Verification Suite, a set of capabilities that enables lenders in asset-backed lending arrangements to verify the accuracy of borrower asset data and calculations.
“Today’s asset managers tend to rely on spot checks or manual review to make sure that debt transactions are in line with credit agreements. But that leaves an unacceptable amount of room for error,” Jeremy Tsui, co-founder and CEO of Finley, said. “Finley’s Verification Suite automatically runs thousands of checks on borrower data as soon as it arrives. It flags inconsistencies to asset managers so they can protect their investments.”
Finley’s new offering enables asset managers to manage their asset-backed loans by automatically flagging calculation inaccuracies or inconsistencies in datasets, whether those datasets represent real assets or receivables.
The new platform builds on Finley’s borrower-facing automation platform, which includes a digital credit agreement, funding request automation, and insights.
“We’re bringing modern data concepts, such as data centralization and consistency over time, to asset-backed finance,” Kevin Suh, Finley co-founder and CTO of Finley, said. “Our Verification Suite delivers instant feedback that can help protect borrowers and lenders in high-stakes asset-backed transactions. In one case last month, we helped a borrower free up $30 million in cash by verifying with their lender that their borrowing base was properly collateralized.”
