Dakota Financial launches AI-based service for equipment finance

Equipment financier Dakota Financial has introduced Ask Frank, an AI-powered tool designed to enhance customer service in the equipment finance industry.

Available 24/7 via text, Ask Frank provides brokers and lessees with real-time access to critical information, including payment status, invoices, lease documents and deal updates, eliminating the need for portal logins, according to a release today. Powered by retrieval-augmented generation (RAG) technology, Ask Frank combines large language models with real-time data retrieval, ensuring responses are accurate and up to date.

The tool integrates with platforms such as Salesforce and Aspire and offers support in English and Spanish, according to the release.

Michael Green, chairman of Dakota Financial, said the AI solution reflects the company’s commitment to innovation and efficiency in equipment finance, according to the release. Dakota Financial has provided asset-based direct funding solutions for more than 20 years, serving over 10,000 customers nationwide.

The third annual Equipment Finance Connect at the JW Marriott Nashville on May 14-15, 2025, is the only event for both equipment dealers and finance providers. Learn more and register here.