ConnectedFi completes migration to V2 platform

ConnectedFi has completed the migration of its proposal management platform to its new V2 platform, introducing a range of additional tools designed to support lenders across the proposal-to-payout process.

The platform is used by more than 160 asset finance brokers, including several of the UK’s largest brokerages and appointed representative networks. ConnectedFi said the new version has been developed to address inefficiencies that remain common across many lender and broker origination processes.

The platform continues to enable brokers to submit proposals directly into lender systems via API integration, using lender-specific data formats, while providing status updates back to brokers throughout the application process.

Under the V2 upgrade, lenders gain access to a configurable workflow and a library of modular microservices that can be integrated into existing processes or used to support wider transformation of proposal and origination journeys.

The functionality includes proposal intake through APIs and AI-enabled document ingestion, deal screening, proposal routing, automated communications, document transformation, decisioning tools, e-signature capabilities, reporting and analytics, as well as integrations with third-party systems and lender platforms. The company said the microservices can be configured to individual lender requirements and deployed in different combinations depending on operational needs.

ConnectedFi said some of the UK’s largest banks have already adopted the V2 platform.

James Hunt, VP Strategy & Operations at ConnectedFi, said the company had seen strong feedback from brokers on the benefits of streamlined proposal submission and lender integration.

“We know from broker feedback that ConnectedFi makes the proposal process easier and that can drive an increased flow of deals to integrated lenders. The business case for a simple integration to ConnectedFi is straightforward, based on an improvement in service levels, increased productivity and an uptick in new business flows.

“The new ConnectedFi V2 platform represents a step-change beyond that – offering a set of tools for lenders to integrate into their full prop-to-payout journey, for faster, more compelling broker experiences”.