Northteq, Inc., a provider of Salesforce loan origination solutions, announced a range of new features and enhancements in its January Product Release. This release focuses on making operations smoother, expanding financial product options, and improving vendor and partner collaboration. It is all about making things better and easier in the world of equipment finance. The company is excited about continuing to evolve its Aurora LOS and Partner Portal and know these enhancements will open new possibilities for our clients.

Here is a glimpse of what Northteq is rolling out:  

Expanded Product and Pricing Offerings

• Enhanced Asset-Based Pricing: We are transforming the way you price in Aurora. The updated asset-based pricing feature, powered by TValue, allows for individualized pricing of each asset with different rates, residuals, and more. Asset pricing can be rolled up on the application or into a blended rate as suits your business needs.
• Line of Credit Capabilities: Introduce new revenue streams with our Line of Credit product featuring the same automated credit decision-making in Aurora that you love. After approval, you can auto-approve an application against an approved borrower line of credit.
• Enhanced Residuals: Experience a breakthrough in pricing flexibility with advanced residual pricing tables that accommodate both currency amounts and percentages, automatically calculating the corresponding value on the equipment record. The dynamic residual pricing feature enhancement is seamlessly integrated into program residuals, improving reliability and efficiency of pricing and quotes.
• Flexible Payment Frequency Options: Updated to offer a multi-select field, catering to a wider range of client preferences and requirements.

Vendor and Partner Portal Advancements

• Vendor Enabled TValue Pricing: We're supercharging our Aurora Partner Portal with TValue’s industry-leading calculations and data. This means more accurate quotes and risk-based pricing options, right at your vendor’s fingertips.
• Streamlined Partner Portal Quotes: Improved integration and handling of quotes from the Partner Portal to the LOS for better efficiency and accuracy.
• Single-Page Borrower Application: An updated, more intuitive application process designed to improve completion rates and user satisfaction.

But that's not all. We're also rolling out enhancements across our Salesforce partner apps and integrations including Ocrolus, Middesk, TValue, Paynet, Experian, Transunion, Equifax, and OFAC. Expect improvements in user experience, performance enhancements, and essential bug fixes.

Our January 2024 release is part of Northteq's continuous commitment to refining and advancing our platforms. As we innovate and adapt, we look forward to more impactful enhancements in our upcoming releases this year, each one bringing fresh advancements to the industry. This update is a key part of our ongoing mission to align our technology with the ever-changing market needs and to continuously improve the equipment finance lending experience. Check out the full list of upgraded products and features here.

This is just the beginning of what we have planned for the year. Stay tuned for what's next at Northteq – we're just getting started on a year full of innovation!