IDS, a provider of solutions for the secured finance industry, added four new customers during Q1/21, including two startup equipment finance operations; Metropolitan Capital, a bank expanding into asset-based lending; and a top five U.S. bank, which implemented IDS ABL. IDS is also on a company record pace to complete 14 go-lives by the end of the first half of 2021, representing a 40% increase compared with 2020.
“Our strategic vision is to provide solutions that support the growth aspirations of any size secured finance firm,” David Hamilton, CEO of IDS, said. “We are excited to work with some of the most innovative companies in the market, ranging from startup operations to one of the largest financial firms in the world. Providing best-in-class functionality in an easy-to-use pay-for-what-you-use platform is at the heart of our technology investment. I firmly believe that this value, coupled with our dedication to building long-standing partnerships, is central to our continued success.”
A driver of IDS’ growth is the company’s continued investment in IDScloud, a software-as-a-service (SaaS) platform. IDS is projected to double the amount of net asset value running on the system from Q1/20. Customers currently operating their secured finance business on IDScloud include a mix of banks and independents/specialty finance and captive finance organizations across North America, Europe, the Middle East, Africa and Australia.
IDScloud innovations and security validation completed in Q1/21 include:
- IDScloud | DataStream: Customers are now receiving near real-time data streamed securely to enable ongoing use in reporting, analytics and upstream integrations.
- Developer Portal: This portal enables technical users to leverage IDScloud’s integration capabilities (tools, sample apps, etc.) for building and testing.
- IDScloud | Pricing Microservice: This is a full pricing solution for simple through multi-variable complex pricing structures designed to integrate into any origination system.
- SOC 1 Validation: IDScloud completed the six-month audit period, receiving SOC 1 Type 2, SOC 2 Type 2 and SOC 3 validation.
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