Fincura welcomed Commercial Equipment Finance, Inc. (CEFI), an independent, full-service commercial equipment finance and leasing company, to its family of customers. CEFI will take advantage of Fincura’s financial insight engine to drive faster, easier and more detailed financial analysis for new originations and portfolio monitoring for both English and Spanish-speaking customers.
By choosing Fincura, CEFI will see its time spent collecting, keying and analyzing financial documents decrease by over one hour per spread. As a result, their analysts will be able to evaluate more deals, a key capacity for CEFI to continue its impressive growth.
Additionally, CEFI is now able to capture and unify its borrower data to create an internal data asset that will help drive better decision-making across their entire organization. CEFI is among the first equipment finance firms to use these newly released capabilities in the Fincura platform.
“At CEFI, we believe that personal relationships are the most important part of our business. Fincura allows us to spend less time number-crunching and more time analyzing trends and value-added customer solutions,” said Ricardo Rios, Jr., Chief Operating Officer at CEFI. “Fincura’s financial insight engine gives us the power to understand, plan and report on our portfolio in ways that were not possible before. It also changes our perspective of what it means to collect financial statements from our customers. What used to be a point-of-time analysis is now strategic data for our future.”
“It has been a great pleasure working with Ricardo and his team,” said Cody Putre, COO and co-founder of Fincura. “As the market leader in the Puerto Rican equipment finance space, we are excited to be a key pillar of their innovation initiatives and continued growth.”
CEFI is based in Puerto Rico, Texas and Florida. It has financed more than $400 million in commercial assets since 2010 to over 1,200 clients.
Fincura unlocks data that is trapped in financial statements, spreadsheets, databases and workflow tools for commercial lenders to optimize operations and future-proof their business. By marrying artificial intelligence and human judgment, Fincura’s financial insight engine can extract financial data from scanned, unstructured documents and ensures that every team has easy access to a unified, transparent, and deep data asset.