IDScloud provides asset-based lenders with easy access to portfolio data required to keep capital moving and to mitigate collateral risk
MINNEAPOLIS, MINN. and MILTON KEYNES, U.K. | 7 July 2021 — IDS, a leading provider of mission-critical enterprise solutions for secured finance, today announced that it has completed the migration of IDS ABL to IDScloud, a leading SaaS-based solution for secured finance. Now asset-based lenders can gain access to real-time portfolio insights to mitigate risk and ensure collateral value. The cloud also provides a more intuitive experience through the borrower portal enabling self-service funding requests and document submission.
“When IDS acquired the ABL solution from Stucky in February of this year, we immediately began the process of migrating to IDScloud,” stated Bill Noel IDS CPO. “This is a critical path in our product strategy… to build world-class SaaS applications on our Secured Open Finance Platform and delivered through IDScloud. This foundation provides IDS with the unique ability to deliver value to customers through both the application which meets the specific business need, but also through the platform which enhances the application with additional ecosystem integrations and services.”
IDS ABL provides a real-time view of a client’s current collateral value giving the lender the ability to control risk and make immediate adjustments to credit availability. With built-in analytics, the solution flags unusual activity triggering additional documentation to ensure collateral value. The solution provides a borrower portal for clients to self-serve with BBC & document positing, funding requests, and report retrieval, freeing up collateral analysts to focus on new business growth.
“We are excited to offer IDS ABL on IDScloud,” stated Lisa Nowak, IDS Director of SaaS and Marketplace Platforms. “Our technology vision for IDScloud is to provide a scalable and secure platform to support quick delivery of any of our secured finance applications. With over 65% year-over-year growth in new customers adding over $15b of net asset value (NAV) committed to the platform, it is clear we are meeting a market need for the efficiency gains and application support that come with a true SaaS solution. With IDS ABL now on IDScloud, customers benefit from the innovation, scale, and data access of IDScloud, keeping them one step ahead of risk and competition.”
IDS ABL on IDScloud is immediately available and can be deployed in less than 90 days. For more details on the IDS ABL solution, please visit https://www.idsgrp.com/asset-based-lending
IDS offers a suite of secured finance technologies in the equipment finance, working capital, and automotive finance sectors, helping banks, specialty finance firms, and OEM captive organizations drive operational efficiency, build their businesses, and fuel economic growth. Organizations of all sizes rely on our technologies and consultative services to optimize and automate business processes covering the full digital customer journey. Our software solutions are built on IDScloud, a true software-as-a-service (SaaS) platform that offers best-in-class simplicity, scalability, and affordability.
Co-headquartered in Minneapolis, Minn. and Milton Keynes, U.K., IDS serves more than 300 customers across North America, Europe, and Asia Pacific.