Northteq, Inc., a leading provider of Salesforce loan origination solutions, along with FinWise Bank (FinWise), a subsidiary of FinWise Bancorp, announced the successful integration and launch of Northteq’s Aurora Loan Origination System (LOS) to support FinWise’s nationwide expansion into the equipment finance industry.
The Northteq team created a fully automated, comprehensive credit adjudication solution that starts with a secure partner portal and flows all the way through to documentation while ensuring the necessary regulatory audit trail safeguards every automated decision. The Aurora LOS implementation added immediate efficiencies as it completely transformed FinWise’s manual two-hour credit adjudication process to a fully automated experience.
FinWise, a tech-driven Utah-based bank, needed a strategic fintech partner that not only had a deep knowledge of the complexities of the equipment finance space but could also collaborate and deliver an automated Salesforce LOS solution that matched their tech-driven mission. FinWise and Northteq worked side-by-side to establish new LOS workflows, including a no-touch credit adjudication process, key integrations for compliance and regulatory requirements, and a white-labeled partner portal.
“We trusted Northteq from the beginning. We explained the bank’s vision and the desire to expand our equipment finance footprint beyond our existing customer base. Kristian, Bryan and the Northteq team understood our needs right away. We were able to work together to build a sustainable solution that will scale and grow with our business for years to come,” said Chris Morell, Vice President of Equipment Finance at FinWise.
“It’s humbling and inspiring to see the impact our work has already had on the FinWise team,” said Kristian Dolan, Chief Executive Officer and founder of Northteq. “I truly believe we helped support their vision to drive innovation powered by wisdom. Their focused investments in technology not only provide a thoughtfully designed, enhanced user experience but also revolutionizes how quickly they can do business.”
Morell concluded, “Innovative technology is a foundational element of everything we do at FinWise. We are all thrilled with the product Northteq was able to provide, from our employees that interact with the platform every day all the way up to our Board of Directors.”
Reimagining and building a credit adjudication process to service customers nationwide could have been a daunting task for a growing community bank, but Northteq’s Aurora LOS helped FinWise make it an achievable reality. With the successful launch of this project, Northteq continues its commitment to provide equipment finance companies with innovative solutions that redefine the lending experience.