Northteq formalized its partnership with Plaid to streamline the lending processes directly on Salesforce.com. Plaid’s technology enables Salesforce.com users to easily connect borrower’s financial accounts for loan payment processing via Stripe, and for improved loan decisioning.
With Plaid’s consumer-permissioned access to financial data, Northteq’s Plaid Direct for Salesforce will provide lenders with broader information to improve loan decisioning. In addition, Plaid’s instant account authentication provides borrowers with convenient loan payment options and a faster application experience.
"Enabling our lending clients to real-time verify income and expenses adds additional fraud controls as well as enhanced underwriting," said Kristian Dolan, CEO at Northteq. “Having all this fully integrated with client’s online applications and Salesforce.com, creates a seamless customer experience as well.”
Available automatically within Salesforce, Plaid Direct for Salesforce will:
- Enable borrowers to securely connect their financial accounts
- Enable online payment processing via Stripe integration
- Create a formatted “Asset” report to help underwriting
One of the lenders to benefit from the new Plaid Direct for Salesforce app is River Capital Finance.
“Our mission is to give our customers financing with fast, accurate information through a painless experience,” said Matt Kennedy, President of River Capital Finance. “Northteq and Plaid create an amazing user experience with the ability to apply for financing, validate bank information and enable payment processing all through a Salesforce application.”
Northteq’s Plaid Direct for Salesforce app adds to the list of turnkey Salesforce.com apps currently available for lenders and lessors.
“Lending is an area of financial services deeply in need of tech-first solutions that streamline the process for lenders and borrowers alike,” said Lowell Putnam, Head of Partnerships at Plaid. “Northteq and companies like it provide these needed resources, making lenders’ work easier and simplifying the whole process for borrowers.”
Northteq specializes in integrating fintech microservices to provide turnkey Salesforce.com “apps.” As a Salesforce.com Cloud Alliance and AppExchange partner, it also offers a fully automated Salesforce.com Lease/Loan Origination System, Vendor and Customer Portals, and its turnkey origination solution, LenderKiosk. Northteq was formed in July 2020 when Tamarack Consulting spun off its Salesforce.com practice.
River Capital Finance is an independent technology finance company that specializes in AIDC, mobile computing, and POS equipment and solutions. River Capital delivers mobility life cycle management solutions enabling Hardware as a Service (HaaS) which allows end-user customers to bundle hardware, software, and service in one convenient predictable monthly payment.