Solifi, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Originations for equipment and automotive finance lenders in North America. The newest features enable a multitude of automated advancements designed to enhance the customer and borrower experience. Among them, the ability to directly upload XML files containing asset details onto the Solifi system offers invaluable benefits to the user, including removing manual data entry, automating geocode assignments for physical assets, improving data access and reporting, and expanding seamless 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,” said Solifi Chief Product Officer (CPO) Bill Noel. “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 greater efficiencies, enhanced reporting, and seamless system integrations.

Process Efficiencies

• Mass upload of asset characteristics such as price, cost, age, location, depreciation value, and more from XML files into Solifi Originations software. Removes the need to manually and individually edit asset details already documented from stock inventory files, saving resource time and eliminating errors.
• Assigning geocodes to physical assets is now automated – eliminates manual process and improves reporting based on the physical location of the asset. Additionally, lenders can automatically enable and apply state taxes and regulations to ensure compliance.

Enhanced Reporting

• Datastreaming and streamlined reporting 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 allow users to access data from other systems via the cloud.

Expanding Third-Party Integration

Dynamic URL-generation capabilities improves 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, saving time, effort, and money while improving data security.