AUSTIN, Texas–(BUSINESS WIRE)–Abrigo, a leading provider of compliance, credit risk, and lending solutions for financial institutions, has acquired Integrated Financial Solutions (IFS), the provider of IFSLeaseWorks, a leader in end-to-end lease and loan origination and administration automation. The acquisition of the company, based in Hasbrouck Heights, N.J., marks the latest in a series of strategic investments by Abrigo to help financial institutions gain efficiency through automation in the front and back office.
The IFS solution complements Abrigo’s existing loan origination and management platform by adding the additional segments of equipment and vehicular financing. IFSLeaseWorks expands Abrigo’s suite of automation tools and strengthens its asset management capabilities, which are vital for helping financial institutions diversify their portfolio and earn additional interest income.
IFSLeaseWorks’ cloud-based system supports efficiency and digitalization through the entire lifecycle of lease and loan transactions, from transaction structuring and pricing through application processing, credit decisioning, documentation, billing, collection, and remarketing.
“Financial institutions are eager to grow while keeping an eye on profitability. That’s why the automation provided by the IFS solution is a great complement to the lending automation that Abrigo provides to our 2,400 financial institutions today,” said Jay Blandford, Chief Executive Officer of Abrigo. “We couldn’t be more excited to welcome the IFS team and their clients into the Abrigo family.”
The U.S. equipment leasing and software market grew an annualized 7% in the second quarter of 2024, according to research from the Equipment Leasing & Finance Foundation. Together, IFS and Abrigo can meet growing demand for solutions that bring efficiency and digitalization to more leasing participants.
“Implementing IFSLeaseWorks has been a game-changer for our company. Over the past few years, we’ve experienced significant growth, yet we’ve maintained a lean workforce thanks to the system’s incredible efficiency,” said IFS customer Marcel Gilbert, VP of Information Technology at Navitas Credit Corp. “Their commitment to ensuring the system runs smoothly has made them a trusted partner in our ongoing growth.”
“The IFS team has built a powerful application for leasing companies. By joining with Abrigo, we see a bigger opportunity to share these capabilities with the market and continue innovating for our clients,” said Mitch Kaufman, IFS founder and Chief Executive Officer.
Krall & Co. Inc. served as financial advisor to IFS in connection with this transaction. Rutan & Tucker, LLP served as legal advisor to IFS. DLA Piper LLP served as legal advisor to Abrigo.
About Abrigo
Abrigo is a leading provider of risk management, financial crime prevention, and lending software and services that help more than 2,400 financial institutions manage risk and drive growth in a rapidly changing world. We deliver transformational technology, product innovation, world-class support, and unparalleled expertise so our customers can face complex challenges and make big things happen.
About Integrated Financial Solutions, Inc.
IFSLeaseWorks provides cloud-based lease and loan management software, empowering financial institutions to streamline operations, enhance customer experiences, and maintain compliance. Our solutions offer robust features for lease origination, asset management, accounting, and reporting, helping businesses drive efficiency and growth. With decades of industry expertise, we serve banks, leasing companies, and financial service providers of all sizes. Learn more about simplifying financial processes at www.ifsleaseworks.com.
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