KLC Financial implemented Tamarack.ai, an artificial intelligence platform from Tamarack Technology. KLC Financial will use the fully-integrated AI tool to increase the efficiency and accuracy of its decision-making.

“In equipment finance, you have to look at every available tool and technology to help you compete,” Spencer Thomas, CLFP, CEO of KLC Financial, said. “We felt that AI was a tool we needed to adopt into our business processes in order to become more efficient and accurate in our decision-making. With Tamarack.ai, we found a solution that could help us scale and grow using our data and our way of doing deals.”

One of the first companies to implement Tamarack.ai in the second-half of 2021, KLC Financial has already begun to realize positive results and is looking to leverage the tool further. According to Thomas, “Tamarack.ai is helping KLC Financial make decisions on a daily basis on how and which businesses the company goes forward with.”

For KLC Financial, the next step in the implementation of Tamarack.ai is the use of the platform’s prediction capabilities in the automation of processes to further drive digital integration across the organization.

“We have an aggressive growth plan that will rely on the use of the platform’s prediction tools to be more focused and more productive,” Thomas said. “We view Tamarak.ai as a tool to help us reach the ‘right customer’ with the right product at the right pricing, and expand into new markets to find customers we didn’t think about before and be more confident in our decisions. It is going to empower us to be able to do more and scale faster.”

Created specifically for the equipment finance industry, Tamarack.ai was designed to help reduce capital risk through analysis and learning gained from operational data that reflects an institution’s business processes. The Tamarack Technology team worked with KLC Financial to identify the data universally available across its past transactions and built it into the model. The Tamarack.ai system draws data from all of KLC Financial’s digital systems from the last five years of business.

“Working closely with an innovator like KLC on the application of Tamarack.ai demonstrated to us the vast potential that the platform has for enabling digital transformation,” Scott Nelson, Ph.D., president and chief digital officer of Tamarack Technology, said. “The experience highlighted the value of collecting ‘good data,’ specifically the many data points collected during traditional underwriting that can then create predictions of customer, lender and lessor behaviors.”