Steve Darlington, ABL Solution Specialist
Asset-based lending (ABL) management is a highly resource-intensive process that demands significant man-hours. As a result, financial institutions are mindful of improving lending management processes, forcing organizations to increasingly adopt process automation software. In the current lending market, there are many software applications that support loan origination and credit assessment requirements of lenders. However, increased reliance on IT and highly complex development models have made these solutions less desirable for lenders, which is why they need a no-code platform that provides high scalability, performance, security, and integration across enterprise applications. Addressing this need is Crowd Machine, a leading no-code platform as a service provider. Their platform can be used to build and run complex enterprise-grade applications. A typical example is the ABL solution, which provides lenders and their customers with remote and real-time access to their borrowing base, reports, and lender documents. This allows lenders to improve accuracy, efficiency, transparency, and confidence and take their business to the next level. “We come with an all in one ABL platform, which is built using Crowd Machine’s sophisticated no-code platform,” says Steve Darlington, ABL Solution Specialist, at ABL Collateral Control Systems, LLC. Customers can use Crowd Machine to build tailor-made solutions in a friendly drag-and-drop visual builder that consists of charts, graphs, values, summaries, data entry, custom totals and findings, external URLs, databases, third-party applications, and anything else the business needs to build a solution that works for them.
Already adopted by major financial service companies, Crowd Machine’s ABL solution provides commercial lenders, banks, and customers with a fully customizable solution. For example, lenders need to send reports frequently while borrowers gain access to loan information, collateral detail uploads, and drawdown requests. Traditionally, lenders and borrowers accomplish this using email, telephone, or fax machines. Crowd Machine digitalizes this process by setting up borrower and Crowd Machine An All-in-One ABL lender portals where they can log in and access the reports easily. They no longer need to hunt for reports in emails, fax machines, or printers. They are readily accessible when they need them and can be filed digitally on their computers. Likewise, the company also develops an automated system for sending cash checks to borrowers. In this case, Crowd Machine uses the web portal to store the checks and allows lenders to give access to their checks using a borrower portal.
We come with an all in one ABL platform, which is built using Crowd Machine’s sophisticated no-code platform
The platform comes with several features and functionalities that enable finance organizations to overcome the challenges and achieve better outcomes faster and more accurately than any other alternative. As Crowd Machine is a no-code platform, the company can make changes to an already built system easily without shutting down the whole process. The platform also allows for the quick creation of fields and plot workflows in an easy and seamless manner. In addition, the platform provides everything a company needs to create enterprise-grade applications in significantly less time than with traditional application development methodologies.
As reports are crucial in the banking industry, Crowd Machine gives clients the ability to use and create agile reports. The solutions come with over 55 standard reports straight out of the box, along with the ability to further create and customize report dashboards to suit the various business requirements. In addition, the platform allows companies to easily access and manipulate this data present in reports.
In one instance, a financial company that completed a recent merger approached Crowd Machine to assist them in streamlining their business processes. The client wanted to combine two divisions of the business; however, the challenge was that one of the divisions employed no automation. Crowd Machine’s team deployed the ABL solution to combine the two disparate divisions of the business together. As the solution was hosted in the cloud, the company could provide seamless and easy access to reports and other data to both firms. Crowd Machine built a role-based system for both the firms and unified the lending management processes. This allowed Crowd Machine to bring the two divisions under a single umbrella and thereby join them together. The rolebased system also played a critical role in breaking down their employees’ workload, which helped the client reduce the staff budget significantly.
Such success stories stem from Crowd Machine’s experience in building tailor-fit solutions for their clients. In addition, Darlington’s industry experience assists the company in understanding their client’s challenges better. Before associating with Crowd Machine, he has worked in many managerial roles at leading banking and finance companies. He leverages this experience to help clients build custom solutions to their diverse and unique business requirements. “Our clients do not need to start from scratch, the platform allows them to begin their development right away,” mentions Darlington.
Moving forward, Crowd Machine wants to augment its platform with additional features and functionalities that will enable them to offer more customized services. For example, the company plans to build prediction capabilities to help lenders and clients know potential problems in advance. With several such capabilities, Crowd Machine wants to transform the asset-based lending industry, which is antiquated and failing to meet the market’s growing needs.