Solifi, a fintech software partner for secured finance, has announced that Merchant West Group, a South African financial institution, has selected Solifi ABL on the Open Finance Platform.

Merchant West Group was previously operating on a legacy system that was several versions behind and could no longer receive updated functionality.

“The upgrading of our core operating system to the Solifi ABL platform marks a significant milestone in our strategy to provide our clients with the best possible service offering in the South African invoice discounting market,” said Mike Brandon, managing director of Merchant West Working Capital Solutions.

“The upgrade process was seamless with strong support from the Solifi team at each step, which meant that we landed the project on time, within budget and with minimal disruption to daily operations and no impact on client transaction flow.”

“Upgrading to Solifi ABL on the Open Finance Platform was a natural choice for Merchant West Group because of our existing strong relationship and tailored solutions,” said Bill Noel, chief product officer.

“Our platform equips Merchant West Group with automation, removing the need for manual processes such as calculations of interest or system upgrades, so they can really take advantage of their resources in other areas of the business.

“We look forward to our continued partnership with Merchant West Group as they scale their operations in South Africa.”  

The upgrade to SaaS is in line with Merchant West Group’s strategy in the South African market.

Merchant West Group determined Solifi’s solution was right for the business due to it being a cloud-based solution, with added security measures, and improved process automation.

The project was green-lit in April 2023 and the business has now migrated its customer base.

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