Northteq has launched AuroraApply, an intelligent credit application platform.
AuroraApply is designed to personalize the loan application experience for equipment finance lenders, according to a July 15 Northteq release. The tool adapts in real time to the applicant’s industry, business size and financing needs, displaying only relevant fields and automatically triggering credit, fraud and compliance checks as data is submitted.
AuroraApply supports multichannel deployment for dealers, direct lenders and referral partners, and includes features such as dynamic question sets, real-time identity verification and contextual intelligence using industry-specific terminology, according to the release. The equipment finance technology platform aims to reduce borrower friction, increase completion rates and shorten the time from application to credit decision.
Northteq, based in Minneapolis, provides Salesforce-powered loan origination and lending automation solutions to more than 175 lenders.
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