The Union of defi SOLUTIONS and Sagent Auto take Lending Services to the Next Level

By CIOReview | Thursday, August 29, 2019
Keven Sticher, CIO

Keven Sticher, CIO

defi SOLUTIONS-DE, LLC and Sagent Auto have signed a contract to merge with the aim of bringing innovation and scalability in lending services.

FREMONT, CA: The two leaders in auto lending technology and services, i.e. defi SOLUTIONS-DE, LLC and Sagent Auto have decided to merge. The resulting organization would be known as defi SOLUTIONS and will be uniquely positioned to offer best-in-class services and products to elevate experiences of auto lenders and consumers.

The new defi SOLUTIONS will have the financial support of Bain Capital Ventures, Warburg Pincus, and Fiserv, Inc. Bret Leech, who is the present CEO and board member of Sagent Auto will further lead the organization in both Canada and the U.S. He will continue to be the CEO of Sagent Lending Technologies.

Defi SOLUTIONS offers a leading-edge loan origination system (LOS) platform that is fully customizable by lenders. The Defi loan software enables lenders to manage the application lifecycle from online application to servicing and funding and receive analytics from one platform. defi SOLUTIONS offers services, which are scalable, affordable, and easily modified with market demands.

Keven Sticher, CIO of defi SOLUTIONS, explains, "We understand the importance of helping lenders at the place they are in their business lifecycle, and we give them the tools that allow them the freedom to do business as they choose." defi SOLUTIONS has been featured in CIOReview as one of the 50 Most Promising Fintech Solution Providers 2018.

The two companies have come together to deliver the best products and services in the present as well as future, simultaneously reducing the disturbance in their client's businesses. Alsbrooks Hanson will continue to work with defi SOLUTIONS to improve relationships with present and future clients.

The software solutions and services are offered across all the components of the lending cycle by defi SOLUTIONS. The components include: servicing, digital engagements, origination, loan and lease care, remarketing, lease maturity management, and analytics. These solutions and services are designed according to the requirements of captive lenders, regional banks, national banks, credit unions, finance companies, and lending start-ups. This transaction is anticipated to be closed this month.

tag

CIO