Exela Technologies launches invoice financing platform

The platform will support both traditional and alternative asset classes, as well as alternative sources of lending.

Zuma was initially developed to address the large and underserved invoice lending market for businesses, which has been hampered by high underwriting costs. The invoice financing platform allows banks to automate their underwriting processes so that they can create accounts receivable-based lending solutions to compete in the approximately USD 3 trillion factoring market.

Since initial development, Zuma has expanded to cover additional borrowing sectors including mortgages, personal and government-sponsored loans, and auto loans thus enabling other, non-traditional investors such as institutional investors to match their risk and sectors profiles against the desired sector and participate in the lending marketplace. Zuma is a natural expansion for Exela, with Exela’s platforms helping to enable billions of dollars of loans.

As a white-labeled product, Zuma integrates with a lender’s existing backend lending system. When coupled with Exela’s BPA suite, Zuma will also support:

• Automated risk scoring and underwriting based on existing bank lending guidelines;

• Exception resolution, including direct client engagement when loan packages are incomplete;

• Data retrieval and entry from existing client accounting systems, such as QuickBooks.