Slipstream launches VelocityGO software to simplify clean energy finance solutions
Slipstream Group, Inc., a nonprofit working to decarbonize the built environment, launched its mobile-friendly, cloud-based Loan Origination System (LOS) to streamline the customer experience and offer its partners wider carbon and financial impact data. VelocityGO is the latest offering from Slipstream’s Energy Finance Solutions (EFS), which partners with utilities, state agencies, municipalities, cooperatives, and foundations to deliver energy finance options for homeowners, renters, and businesses.
"VelocityGO is the best-in-class way to facilitate, measure, and report the climate and equity impacts of clean energy and energy efficiency finance programs," said Slipstream president, Sandra Henry. "We will collect powerful data about who these loans serve and what impact they have on carbon reduction goals. That data can help us find solutions for finance programs that will scale clean energy into every neighborhood and eliminate first cost barriers to participation."
The new software makes the finance process secure, reliable, and transparent from the first customer application to the last completed project. EFS partnered with nationally recognized vendors to verify income and customer identity at the time of application, and VelocityGO uses predictive technology to offer fast approval decisions. The tool has customizable data processing capabilities to meet program eligibility requirements, such as cross-referencing customer location with metrics that will automatically provide income-driven incentives.
"Flexibility is central to the full-service approach EFS promises its partners. We can design, build, source capital for, implement, and promote a financing program that meets our partner's goals and overcomes barriers in their market," says Robin Sherwood, Slipstream director of lending infrastructure.
VelocityGO brings together lessons learned in the 30 years EFS has designed and implemented programs. "Our system is built to be easy for real people, whether they’re busy HVAC contractors who need real-time access to their customer pipeline, a first-time applicant who feels overwhelmed by the process, or a partner who will develop new finance offerings based on data about who they serve," said Aaron Edge, Slipstream director of equitable finance. VelocityGO is designed so diverse stakeholders can easily access clean energy solutions.