IDS Closes First Quarter with Three New IDScloud™ Customers

PRESS RELEASE

New IDScloud customers add more than $4B in net asset value across multiple asset classes spanning the U.S. and Mexico

MINNEAPOLIS, MN, April 8, 2020 — IDS, a leading provider of asset finance technology announced today that it has signed three new customers with combined net asset value exceeding $4B. Two U.S. based lessors and one based in Mexico City, providing equipment financing for a full range of asset classes including heavy equipment, information technology, healthcare and medical devices, and office equipment.

“The asset finance market is well positioned for a move to the cloud”, stated David Hamilton, IDS CEO. “A comprehensive software-as-a-service offering, including full application management, allows finance companies of any size to focus on building their business and customer relationships while leaving the IT infrastructure, application management, software upgrades, interfaces and data security to IDS. These new customers selected IDScloud based on the functional richness of our platform and the ability to quickly migrate their lease and loan portfolios to our service.”

IDScloud is a Software as a Service (SaaS) offering where IDS experts secure, maintain and scale all of the hardware, software and infrastructure in the cloud. There are no infrastructure costs or maintenance requirements for the lessor. Our global partnership with Amazon Web Services (AWS) ensures IDScloud meets the highest standards for resilience, uptime, security and global scalability.

IDScloud is based on the same marketing leading business logic and flexibility found in Rapport® origination and InfoLease® portfolio management solutions. With IDScloud, this powerful end-to-end asset management platform is available to lessors of all sizes in an easy-to-consume, pay for what you use, cloud-based offering.

About IDS
Leading asset finance enterprises build their businesses on full lifecycle solutions from IDS. Our software streamlines the entire asset finance process from origination, to portfolio management, to end-of term. Our new cloud-based offerings integrate seamlessly into any asset finance ecosystem. The scalability, flexibility and economy of our cloud solution makes IDS best-in-class asset finance software accessible to banks, independents and captives of all sizes. Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, Australia, Singapore and India. For additional information, visit idsgrp.com or email information@idsgrp.com.

Media Contact: Ray Wizbowski – rwizbowski@idsgrp.com