Dakota Financial announced the launch of “Ask Frank,” an advanced AI-powered tool designed to revolutionize customer service in the equipment finance industry. Available 24/7, Ask Frank provides brokers and lessees with immediate access to personalized information, streamlining inquiries and delivering real-time solutions.

In the fast-paced world of equipment finance, having instant access to critical information—such as payment statuses and history, amount due, outstanding balances, copies of invoices, titles, lease documents and the ability to schedule payments—is essential for smooth, efficient transactions. Ask Frank makes all this information available in real-time via text, eliminating the need to log in to portals or navigate websites in search of documents a customer may need. Users can also inquire about common questions or concerns with just a message. Additionally, ongoing enhancements will provide even more value for broker partners, including deal status updates with missing items needed for funding.

Ask Frank is powered by Retrieval-Augmented Generation (RAG) technology—a cutting-edge approach that combines the strengths of large language models (LLMs) with real-time information retrieval. Unlike traditional chatbots that rely solely on pre-trained knowledge, the RAG architecture dynamically fetches and integrates the most current and relevant data from various sources during a conversation. This means that Ask Frank delivers responses that are not only contextually accurate but also based on the latest available data.

By leveraging OpenAI’s intent classification capabilities and real-time data integration from various platforms—such as Aspire, Salesforce, and REST APIs—Ask Frank ensures that brokers and lessees receive highly accurate, up-to-date information, enabling them to navigate their transactions with greater efficiency.

Key Features of Ask Frank:

• 24/7 Access: Users can get instant answers, anytime, anywhere, via simple SMS texting.

• Bilingual Support: Available in both English and Spanish, ensuring broader accessibility.

• Real-Time Data: Instant access to crucial documents and status updates, without needing to log into portals.

• Intelligent Query Handling: Thanks to RAG’s modular architecture, Ask Frank accurately understands and responds to a wide range of user inquiries. The chatbot dynamically fetches data from diverse sources ensuring responses are timely and relevant.

• Seamless Integration: Built with flexibility in mind, the Ask Frank platform supports easy integration of new AI agents, providing room for future feature expansion.

“We understand that our partners and customers operate in fast-paced environments where speed, agility, and superior service are paramount,” said Michael Green, Chairman of Dakota Financial. “Ask Frank represents our commitment to innovation and customer service. This AI solution provides instant access to critical information, allowing brokers and customers to navigate transactions swiftly while delivering premium service. Dakota Financial is leading the charge in integrating AI technology into equipment finance, marking a significant step in enhancing service and operational efficiency.”