Solifi released the latest version of its asset-based lending software, which includes several new and enhanced features designed to improve the lender and borrower experience through self-service functionality, more insights into portfolio risk and increased efficiencies through enhanced audit compliance and visibility.

Solifi’s ongoing product development delivers innovation quickly through its software-as-a-service–based open finance platform, allowing customers to focus on building their business and onboarding new customers.

“Our newest ABL software release eliminates time-consuming, low-value activities with more self-service functionality, a clear line of sight into portfolio risk in near real-time and easier access to historical data for audit compliance,” Bill Noel, chief product officer of Solifi, said. “With our SaaS-based open finance platform, we release new features quarterly for our ABL lenders, allowing them to focus on portfolio growth without the distraction of on-premises upgrades.”

This latest quarterly release of Solifi’s ABL software brings significant new value to customers, including:

• Enhanced portal user profiles with 24/7 self-service functionality that enable borrowers to grant permission levels to appropriate team members, empowering them to manage their accounts while reducing administrative tasks by lenders and ensuring better compliance and security
• Near real-time aging comparison reporting functionality that allows lenders to examine changes in their accounts receivable collateral more frequently than monthly, providing better oversight and the opportunity to act immediately on under-performing accounts, resulting in a closer representation of actual money borrowed and available collateral
• Archived data from historical tables and databases retrieval lets lenders retrieve cold-storage reports on terminated clients, enabling quicker responses and fewer internal resources needed to gather required audit information