Solifi releases new features for its equipment finance solutions

MINNEAPOLIS, U.S. and MILTON KEYNES, U.K. | Nov. 2, 2023. Solifi, a global fintech software partner for secured finance, announced the latest product releases for Solifi Originations ROS and Portfolio Management ILS for equipment finance. The new software releases bring significant new value to equipment finance customers, with enhancements to business management, efficiency and compliance.

“We are pleased to be offering immediate value to our customers with our latest 2023 feature releases for equipment finance.” Bill Noel, Chief Product Officer at Solifi. “At Solifi, we always strive to continuously enhance our solutions and this year’s releases offer lenders the tools they require to maximize efficiency and ensure compliance.”

Solifi has delivered over 35 new features in its North American equipment finance product line to date. Some highlights include:

Business Management

• Using feature flag enablement, admin users have the systematic ability to choose the new features in a release they want to enable based on their business needs and readiness to adopt. Automatic feature releases can be accepted or rejected as needed, allowing the assessment of potential business impacts while also maximizing feature acceptance.

Efficiency

• Additional RESTful APIs developed to support customers’ system-to-system asset integrations. This feature improves business process workflows by enabling users to work in their system of choice through removal of data duplication.
• Added tiered pricing which enables lenders to price assets using multiple rates per asset for a blended contract rate. Solifi customers can configure their own pricing tiers within individual pricing programs. Lessees benefit through potentially lower contract pricing.

Compliance

• Enhanced support for Regulation Z reporting with readily identifiable data elements including lessee fees and costs. While Solifi Originations has always enabled customers to be compliant with Regulation Z, the new feature has enhanced the accessibility of standard regulatory fields.
• Enhanced non-accrual processing to consider the number of periods a contract has been eligible for re-accrual before automatically removing it from suspended status. This removes manual intervention while providing options supporting regulatory and company compliance standards.

Get in touch to find out how Solifi can support your equipment finance business with the origination, pricing, portfolio management and vendor capabilities needed to capture your share of the market.

About Solifi 

Solifi is a leading global organization delivering a solid financial technology foundation for equipment, working capital, wholesale, and automotive finance firms. At Solifi, we believe that commerce is only as strong as the system it runs on. Our mission is to reshape finance technology by bringing together proven solutions into a singular powerful technology platform designed to help you protect and scale your business. We guard your company by being precise and reliable, we guide you to success by combining powerful technology with proven expertise, and we help you grow by unleashing the potential of your business. For more information, please visit www.solifi.com.     

For more information

Company: Solifi

Contact name: Michelle Lansdowne

Phone:  +1 612 851 3200

Email address: mlansdowne@solifi.com