IDS, a US-based provider of asset and equipment finance technology has bought William Stucky and Associates (WSA), a provider of asset-backed lending (ABL) and factoring software.
David Hamilton, chief executive at IDS, said: “We have acquired WSA to broaden our IDScloud offering with best-in-class ABL and factoring solutions.
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Expanding our solution portfolio will help our customers deliver a more holistic set of working capital and equipment financing solutions to their customers.”
IDS said the combination of the two companies will provide IDScloud customers with the ability to offer a range of secure, cloud-based financial products to their customers. The expanded IDScloud solution portfolio will encompass:
- Deal Management (origination, pricing)
- Asset and Equipment Finance (lease and loan)
- Vendor financing
- Asset Based Lending (loan management, credit monitoring, borrower portal)
- Receivables financing
- Factoring (recourse and non-recourse)
- Purchase-order financing
William Stucky, WSA’s founder and chief executive, said: “WSA’s focus has been on consistently helping customers grow through the use of technology solutions that make their business life easier and more secure.”
“IDS’ complementary portfolio and strong technology focus make it a perfect home for the Stucky ABL and factoring solutions. Together, through the combination of software and services, customers will continue to receive the industry-leading support and technology required to grow in the evolving market landscape.”
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By GlobalDataIDS has invested significantly in building a powerful software-as-a-service (SaaS) platform to serve the equipment finance industry’s needs, the company said.
Following the acquisition of WSA and by leveraging the capabilities of IDScloud, IDS can provide customers SaaS-based ABL and factoring solutions, IDS said in a statement.
US-based William Stucky and Associates provides ABL and factoring and has over 120 customers globally, including the UK and South Africa.
IDS offers a suite of secured finance technologies to help banks, speciality finance firms and captive finance organisations optimize operational efficiency and drive growth.
