TSL Express Daily News

The product allows banks and credit funds to programmatically verify the accuracy of asset data and borrowing base calculations 

SAN FRANCISCO, April 8, 2024 /PRNewswire/ --  Today, Finley, the leading debt capital management platform for borrowers and asset managers, announced the launch of the Finley Verification Suite, a set of capabilities that enables lenders in asset-backed lending (ABL) arrangements to verify the accuracy of borrower asset data and calculations.

"Today's asset managers tend to rely on spot checks or manual review to make sure that debt transactions are in line with credit agreements. But that leaves an unacceptable amount of room for error," said Finley co-founder and CEO Jeremy Tsui. "Finley's Verification Suite automatically runs thousands of checks on borrower data as soon as it arrives. It flags inconsistencies to asset managers so they can protect their investments."

Finley's new offering enables asset managers to manage their asset-backed loans more effectively by automatically flagging calculation inaccuracies or inconsistencies in datasets, whether those datasets represent real assets or receivables.

Building on Finley's borrower-facing automation platform, which includes a Digital Credit Agreement, Funding Request Automation, and Insights, the Verification Suite gives asset managers peace of mind around questions like:

• Is the borrower's collateral sufficient for this funding request?  
• Does the asset data recorded in this loan tape match the data from source documents, such as appraisal documents or invoices? 
• Have all the borrowing base calculations in this funding request been checked against the stipulations of the credit agreement? 

"We're bringing modern data concepts, such as data centralization and consistency over time, to asset-backed finance," said Kevin Suh, Finley co-founder and CTO. "Our Verification Suite delivers instant feedback that can help protect borrowers and lenders in high-stakes asset-backed transactions. In one case last month, we helped a borrower free up $30 million in cash by verifying with their lender that their borrowing base was properly collateralized." 

Click here to learn more about Finley's Verification Suite.