Solifi, a global fintech software partner for secured finance, announced that Access Capital, a privately owned asset-based lending firm based in New York City, NY, has upgraded from its on-premise system to Solifi ABL on the Open Finance Platform. In addition to upgrading to the newest version, Access Capital also consolidated its remaining clients from a separate factoring system to Solifi ABL’s ledgered AR model, which consolidates borrower management into one system.
Access Capital provides financing solutions to staffing companies, IT, engineering, media companies, distributors, and manufacturers worldwide. CEO Terry Keating, who joined the business in May 2022, prioritized the need for an upgraded and consolidated software solution to offer Access Capital’s customers improved functionality while enabling the company’s management teams to access real-time data.
“We are delighted to support Access Capital in converting its on-premise software to our SaaS asset-based lending solution,” said Bill Noel, Chief Product Officer at Solifi. “At Solifi, we continuously invest in our products to ensure our customers enjoy a seamless experience from day one. Our team is committed to meeting changing business needs. We have collaborated with Access Capital to enable the company to leverage the added functionality, such as daily reporting, borrower portal, and automated calculations, which ABL on the Open Finance Platform offers.”
Searching for a single, unified solution that met its needs, Access Capital’s teams were seeking a platform that would enable them to go live in a short period of time. Additionally, the business sought to reduce manual, low-value touchpoints, and provide its clients with additional self-service portal options to enhance their digital experience.
Access Capital’s decision to upgrade to Solifi’s SaaS solution was the result of the company’s positive experience with Solifi’s legacy on-premise platform (ABLM.NET). Access Capital believes that upgrading to Solifi ABL will best support its expanding business needs.
Terry Keating, CEO of Access Capital shared, “This is my first experience working directly with Solifi, and I have been very happy with the capabilities of the platform and the responsiveness of the implementation team. Solifi listened to our needs and concerns and worked closely with our team to get the upgrade and consolidation done well within our targeted timeframes. We have ambitious growth plans, and having a solid, flexible, and scalable loan management platform is crucial to achieving our objectives.”
Some of the main benefits that Solifi ABL offers Access Capital include:
- Borrower portal, giving customers 24 hours a day, 7 days a week self-service access to Access Capital’s credit line and finance information;
- Data streaming capabilities to access data in near real-time to visualize information in a consistent format when Access Capital needs it;
- Trend reporting at the loan, client, and portfolio levels, with daily, weekly, and monthly insights to identify portfolio risk and new lending opportunities;
- AR Wizard, reducing the manual processes of reviewing and calculating ineligibles, allowing the tasks to be completed in minutes.
Learn more about how Solifi’s SaaS working capital solutions can improve the asset-based lending customer experience, increase risk management capabilities, gain efficiencies through automation and data integration, and future-proof the operations of secured lending firms.
About Access Capital
From robust and scalable growth capital to acquisition financing, Access Capital helps clients create generational wealth with tailored credit facilities up to $25,000,000 and has been a financial partner to entrepreneurs nationwide for nearly forty years.
Its mission is to support the growth of their clients by providing the working capital necessary for success, with an emphasis on how the relationship will evolve as a company grows.
Access Capital has financed over a thousand companies in a broad range of industries, ranging from small start-ups to large corporations. Its principal focus is on lending to staffing companies, and over the years has grown and developed into the nation’s leading independent lender to the staffing industry. In addition, the company has also financed other kinds of service companies, media companies, distributors and manufacturers in various industries.
For more information, please visit Access Capital | For the Life of Your Company
