Solifi Releases Latest Version of Originations Platform for Equipment Finance

Solifi released the latest version of Solifi Originations for equipment and automotive finance lenders in North America. The newest version implements features that enable multiple automated advancements designed to enhance the customer and borrower experience, including the ability to directly upload XML files containing asset details onto the Solifi system. These features are meant to remove manual data entry, automate geocode assignments for physical assets, improve data access and reporting, and expand third-party integration with standard APIs.

“Our goal is to deliver a regular cadence of innovative originations capabilities to equipment and automotive finance lenders to grow their business seamlessly,” Bill Noel, chief product officer of Solifi, said. “This release addresses our customers’ need for speed, efficiencies and flexible options by leveraging our SaaS Open Finance Platform and technology partnerships.”

The latest release of Solifi’s Originations software provides lenders and customers with the following features:

  • Users can mass upload asset characteristics such as price, cost, age, location, depreciation value and more from XML files into Solifi Originations software. This removes the need to manually and individually edit asset details already documented from stock inventory files, saving resource time and eliminating errors.
  • The process for assigning geocodes to physical assets is now automated, eliminating manual processes and improving reporting based on the physical location of the asset. Additionally, lenders can automatically enable and apply state taxes and regulations to ensure compliance.
  • Data streaming and streamlined reporting are now enabled for Open Finance Platform customers, improving data access and reporting capabilities while eliminating the extra costs and time associated with customized reporting. Standard third-party APIs also allow users to access data from other systems via the cloud.
  • Dynamic URL-generation capabilities improve the speed and efficiency for third-party vendors to retrieve key customer information from a single cloud-based source (e.g., ID verification). Direct integration with standard APIs eliminates the need to create separate connections between vendors, with the goal of saving time, effort and money while improving data security.

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