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Solifi Announces Codat Integration is Now Available on Open Finance Platform

Date: Apr 16, 2024 @ 08:05 AM
Filed Under: Industry News

Solifi announced the completion of the integration with Codat, a leading provider of enhanced-connectivity automated solutions.

The out-of-the-box functionality enables asset-based lending (ABL) firms to make smarter, faster and actionable credit decisions. Using pre-built APIs, the integration with Codat permits consented business data, such as accounts receivable and debtor information, to securely integrate into operational systems in real-time, providing ABL customers with a more comprehensive view of risk.

Accessing real-time collateral information is a common challenge for ABL lenders. Codat removes the need for manual processes, improving both efficiency and accuracy. The integration enables automatic debtor credit limit imports, ensuring real-time availability without borrower or lender file processing, while enhancing borrower health accuracy and automating manual tasks. Lenders can also monitor accounts receivable changes and ineligibles more frequently, with data pushed by the borrower or pulled by the lender.

“Readily available as part of our ABL solution, this integration empowers lenders with enhanced real-time insights and analysis,” says Bill Noel, Chief Product Officer at Solifi. “Our customers can now make more informed lending decisions with reduced risk and higher profitability.”

Solifi’s partnership with Codat equips ABL organizations with tools to retrieve real-time data for the most accurate views into collateral value, covenant compliance, and the overall borrower’s financial strength.

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