New features introduced in 2023 improve customer experience and product scalability
Solifi, a global fintech software partner for secured finance, announced the key enhancements delivered to Solifi Open Finance Platform in 2023. The latest upgrades facilitate the maintenance, configuration, and operation of Solifi’s software platform for customers. Solifi Open Finance Platform is supported globally, and the company concluded the year with over 100 customers committed to going live on the platform.
In alignment with Solifi’s objectives of meeting customers’ evolving needs by strengthening its service offering, Open Finance Platform leverages APIs, allowing customers to maintain their business-critical integrations and workflows while ensuring both modern performance and security standards are met. In order to facilitate this, the company’s mission to build a strong ecosystem with best-in-class partnerships continued, focusing on key relationships with AWS and Confluent in 2023. Solifi’s continued investment in its core technology offers flexibility and scalability, enabling the company to respond to its customers’ needs faster.
“2023 has been a great year for Solifi Open Finance Platform, with notable enhancements designed to improve our users’ experience,” says Bill Noel, Chief Product Officer at Solifi. “We work tirelessly to provide powerful technology that automates manual tasks, provides access to data easily and securely, and offers exceptional customer service. With a single platform catering to secured finance needs, we empower our customers’ growth by providing scalable solutions equipped with all necessary tools.”
The key 2023 features and changes to Open Finance Platform include:
- Extended data access: Solifi has a strong focus on near real-time data access at the touch of a button, with now over 2,000 data streaming topics available. Data streaming is now live for Solifi ABL and will be available for Solifi Originations customers in Q2, joining Solifi Portfolio Management and increasing users’ access to data. New data streaming topics can now be added to the server without requiring a rebuild through an Incremental Snapshot. This accelerates the process of providing additional data to customers, leading to faster turnaround times and improved overall efficiency. Data accuracy is a top priority for customers and the key driver in the addition of a record count feature, which enables customers to validate and quickly reconcile their data.
- Expansion of offerings: Foundational development now supports user management for additional product offerings on Open Finance Platform, including Solifi Wholesale Finance and Solifi Originations. These tools allow customers to manage their users and provide secure authentication methods for MFA and SSO using Auth0. Solifi has also expanded global reach by adding AWS support in Frankfurt, Germany, improving performance, enhancing data security and compliance, and mitigating risk.
- New platform-level services: Two new platform-level services have been created for use across the product portfolio, which aim to streamline email and document management. The Document Management service, which enables customers to create templates and generate documents such as welcome letters, lease agreements, invoices, and delinquency letters, will be available in early 2024 for Solifi Originations and Solifi Portfolio Management customers. Similarly, the new email service offering allows customers to create templates and generate emails. To further ensure secure transmission and compatibility with customer systems, Graph API support has been added to the email service. Both of these new services enable customers to improve communication and access to documents for various business needs.
