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Metropolitan Capital Selects IDS ABL Technology for Working Capital Solutions

April 27, 2021, 07:18 AM
Filed Under: Industry News

IDS, a provider of enterprise mission-critical solutions for secured finance, announced the Metropolitan Capital Bank & Trust has selected IDS Asset Based Lending (ABL) to support its small to medium business customers access to working capital through an easy-to-use technology platform. The selection of IDS ABL (formerly Stucky ABLM) aligns with the bank’s strategic focus to support their customers through innovative finance solutions supported by best-in-class technology.

“Metropolitan Capital has an eye on the future,” said Kimberly Haney, Executive Vice President and Head of Credit Administration. “We consider our partnership with IDS to be a part of our strategic plan to expand our abilities to service our clients. When we made the decision to enter the ABL market, we decided to partner with the best. IDS has a long history of being the leading provider of ABL collateral management services. We look forward to many years of working with IDS.”

Metropolitan Capital is a full-service boutique Universal Bank providing comprehensive, innovative and highly customized solutions for small to medium-sized businesses and their stakeholders through private banking, wealth consulting, commercial banking, and investment banking services. The bank’s differentiated business model focuses upon enabling clients to grow their businesses and achieve their long-term financial goals through a single, integrated platform.

“IDS is excited to be working with the innovative team at Metropolitan Capital,” said David Hamilton, CEO of IDS. “We recognize small to medium businesses are core to both local and global economies which is why we work hard to make our solutions scalable and accessible to meet the demands of all financing firms and their customers. Partnering with forward-looking banks like Metropolitan Capital has been central to our continued success and further reinforces our ability to drive value for customers across the secured finance spectrum.”

IDS acquired William Stucky and Associates in February and is actively migrating the ABL and factoring solutions to IDScloud, a SaaS technology platform supporting the needs of the secured finance industry.

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