Leading Commercial Lending Software firm leverages DataShare to completely digitize the Borrowing Base process, saving lenders time and delighting borrowers.
AUSTIN, Texas–(BUSINESS WIRE)–Validis, a pioneer of financial data sharing and standardization technology, today announced that they are entering an exciting partnership with ABLSoft. ABLSoft’s flexible lending platform helps lenders save time and scale operations with intelligent workflows, reporting and alerts. DataShare by Validis joins their technology arsenal, by enabling SMB borrowers to digitally share their Borrowing Base Certificate, Accounts Receivables and financials through the ABLSoft application, drastically reducing effort for all parties.
Instant Borrowing Base™, a new offering by ABLSoft, intelligently automates the borrowing base process, enabling Borrowing Base calculations to be completed in minutes from the time a borrower authorizes information from their accounting system. Immediately, the Lender will receive notifications to review updated BBC values and any red flags identified by ABLSoft’s intelligent automation tools. Borrowers will delight in faster funding approvals and lenders can be assured of data integrity and newfound productivity time. Lenders can shift their focus to sales growth and richer risk monitoring with ABLSoft’s real-time dashboards, standard reports, and APIs through ABLSoft’s platform.
DataShare connects to the market’s most popular accounting packages, where it extracts the SMB’s financial data, and then analyzes, standardizes, and surfaces it within ABLSoft’s lending platform. ABLSoft is working with Validis to replace the manual and error-prone process of requesting, preparing, and analyzing the data by hand. Validis’ clients report saving days or weeks from their previous loan origination processes using DataShare and by combining this functionality with ABLSoft’s best-in-class platform, the efficiencies are even further enhanced.
“Integrating DataShare gives financial institutions and their SMB clients a wealth of benefits. The process of accessing and interpreting financials is radically simplified via our powerful APIs, saving time and expense on both sides,” said Joel Curry, CEO of Validis. “By partnering with ABLSoft, we are empowering financial institutions with a truly next-generation lending solution. We are very excited to be working with ABLSoft to bring this to market together.”
“Partnering with Validis was a natural fit and a great opportunity for our clients,” said Nancy Lee, CEO of ABLSoft. “We’re obsessed with making lending effortless for lenders and borrowers – and this is a great leap forward.”
Led by experienced and influential finance and technology experts, with headquarters in the United Kingdom and offices in North America, our mission is to be the place where businesses come to share financial data. Validis provides a data pipe for commercial lenders and accountants to their clients’ accounting application. The technology collects financial data from a business’ accounting application and transforms that data into a standardized format, empowering commercial lenders and accountants with fast and secure access to financial data. The system connects to online and desktop accounting applications used by 80 percent of the SMB market, and is currently used by 80 percent of the tier one banks in the U.K. and three of the big four accounting firms. For more information, please visit www.validis.com.
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For over a decade, ABLSoft has helped asset-based lenders and factors maximize efficiency and grow profitably with intelligent automation. As the original cloud based ABL platform, we continue to pioneer and simplify loan and invoice management. From seamless BBC processing, to tailored covenants, to one-click reporting – our mission is to help lenders grow with confidence. For more information, please visit www.ablsoft.com.
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