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Northteq Provides Automated Fraud Solution for Equipment Finance Industry with Ekata

June 10, 2022, 07:24 AM
Filed Under: Technology

Northteq, Inc. announced a Salesforce-based automated fraud mitigation solution for equipment finance lenders utilizing Ekata's industry leading technology. The solution was first implemented to enhance Northteq’s lease/loan origination system (LOS) for ENGS Commercial Finance Company.

“Through our relationship with Ekata, we were able to develop a solution for our shared customer and provide the equipment finance market with an automated fraud mitigation solution that supports one of today’s biggest needs: digital transaction security,” said Kristian Dolan, Chief Executive Officer of Northteq. “Our unique solution offers actionable insight into credit risk, empowering lenders to make faster, more informed decisions while delivering a frictionless, positive experience for their customers.”

ENGS Commercial Finance has been utilizing Northteq’s Salesforce-based LOS solution for several years. Northteq’s comprehensive origination solution was designed to easily integrate with the Ekata enhancement along with more than 25 additional fintech developed solutions.

“The integration of Ekata into our credit adjudication transaction process has multifaceted benefits for ENGS by delivering automation and fraud mitigation. Our open and flexible Salesforce platform in conjunction with our strong partnership with Northteq allowed us to bring this to market quickly and efficiently,” said Franklin D. Swann Jr., Senior Vice President, Information Systems at ENGS Commercial Finance.

Ekata’s proprietary technology helps protect lenders from fraudulent activities by identifying red flags early in the underwriting process. Every online transaction is automated through multiple gateways prior to approval, providing lenders with an improved way to spot potential fraud indicators and eliminate fraudulent transactions from their workflows, while also helping validate credit decisioning models.

With more than 150 lending clients, Northteq focuses on providing the equipment finance industry with end-to-end automated fintech solutions. As a Salesforce Cloud Alliance and AppExchange partner, Northteq offers a fully automated Salesforce lease/loan origination system, vendor and customer portals, and turn-key Salesforce lending apps.

Northteq, Inc. is a Minneapolis, MN-based technology company specializing in fintech integration microservices to provide custom technology solutions for loan origination businesses. Northteq has turnkey apps for many partners, including TimeValue, Middesk, Ocrolus, Plaid, Notarize, D&B, LexisNexis and more.

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