Northteq and Ekata Introduce Automated Fraud Mitigation Solution
JUN 10, 2022 - 7:39 am
Northteq introduced a Salesforce-based automated fraud mitigation solution for equipment finance lenders utilizing Ekata’s technology. The solution was first implemented to enhance Northteq’s lease/loan origination system (LOS) for ENGS Commercial Finance.
“Through our relationship with Ekata, we were able to develop a solution for our shared customer and provide the equipment finance market with an automated fraud mitigation solution that supports one of today’s biggest needs: digital transaction security,” Kristian Dolan, CEO of Northteq, said. “Our unique solution offers actionable insight into credit risk, empowering lenders to make faster, more informed decisions while delivering a frictionless, positive experience for their customers.”
ENGS Commercial Finance has been utilizing Northteq’s Salesforce-based LOS solution for several years. Northteq’s origination solution was designed to integrate with the Ekata enhancement along with more than 25 additional financial technology developed solutions.
“The integration of Ekata into our credit adjudication transaction process has multifaceted benefits for ENGS by delivering automation and fraud mitigation. Our open and flexible Salesforce platform in conjunction with our strong partnership with Northteq allowed us to bring this to market quickly and efficiently,” Franklin D. Swann Jr., senior vice president of information systems at ENGS Commercial Finance, said.
Ekata’s proprietary technology helps protect lenders from fraudulent activities by identifying red flags early in the underwriting process. Every online transaction is automated through multiple gateways prior to approval, providing lenders with a way to spot potential fraud indicators and eliminate fraudulent transactions from their workflows while also helping validate credit decisioning models.
With more than 150 lending clients, Northteq focuses on providing the equipment finance industry with end-to-end automated financial technology solutions. As a Salesforce Cloud Alliance and AppExchange partner, Northteq offers an automated Salesforce lease/loan origination system, vendor and customer portals and turnkey Salesforce lending applications.
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