Solifi’s asset-based lending software-as-a-service solution on its open finance platform now supports more than $1 billion in loans outstanding for lenders globally. Additionally, user traffic on Solifi’s ABL borrower portal increased by four times in less than a year.

“We are committed to providing ABL lenders with the technology tools they need to achieve their business goals,” Bill Noel, chief product officer of Solifi, said. “We celebrate these milestones with our customers who have put their trust in Solifi to provide the mission-critical system upon which they run their business. This trust is not something we take lightly, and we deeply appreciate the partnerships with our ABL customers who drive our continued innovation.”

With many ABL finance lenders moving business operations to the cloud and adopting a SaaS-first strategy, Solifi offers a secure ABL solution for loan management, credit monitoring, risk management, portfolio analytics and a borrower portal. This functionality provides:

• Self-service, which gives borrowers access to credit line and financial information so they can manage their accounts on demand at any time
• System flexibility, which consolidates functions into a single platform, reducing manual work for team members
• Data analytics, which offer data visualization of customer performance for real-time understanding of borrower health plus historical trend analysis