IFA Names Wolters Kluwer Lien Solutions Preferred Vendor

The International Factoring Association named Wolters Kluwer Lien Solutions, a business line within Wolters Kluwer Compliance Solutions, a preferred vendor.

IFA’s preferred vendor program is designed to build relationships between factor members and vendors whose products help members achieve goals. Preferred vendors are subjected to a rigorous screening process and must meet IFA criteria for approval, including demonstrated industry knowledge, product and industry expertise and a commitment to serving factoring organizations.

“Our Lien Solutions business has long recognized that factoring brings an elevated risk in lending decisions, and that managing long-term lending cycles and revolving credit lines adds levels of complexity to the lending process,” Suzanne Konstance, vice president and leader of Wolters Kluwer Lien Solutions, said. “Through our award-winning iLien for Lien Management offering, we enable real-time nationwide searches, seamless UCC filing processes and lien management tools that help factor organizations reduce risk, which ultimately benefits the factoring industry as a whole. Our capabilities align well with the needs of IFA member companies.”

Under this preferred vendor relationship, IFA members will receive 15% off all searches submitted via Wolters Kluwer’s iLien lien management platform. The benefit covers more than 20 different searches, both automated and manual.

The iLien platform can help factoring companies efficiently file UCCs by using nationwide electronic filing or through a direct integration via application programming interface (API) technology. It helps factors set up recurring searches, where they can choose the search type and frequency depending on the risk profile of the borrower. iLien also allows factors to monitor debtor and lien changes over time. Its lien management functionality enables factors to take advantage of advanced analytics, audit controls, automated lien continuations and other lien maintenance tools. Ultimately, these capabilities provide factors an extra layer of assurance in effectively managing and mitigating risk to their portfolios.