Northteq, a provider of fintech solutions for the equipment finance industry, has released a new white paper, Automation in Equipment Finance: A Leader’s Guide to Efficient Lending Operations, detailing how automation is transforming the sector.

The white paper explores how forward-thinking lenders leverage automation to enhance efficiency, reduce errors, and scale their businesses. It highlights key insights, including:

• How automation can reduce loan/lease processing time by up to 40%

• Why 85% of companies now consider automation and AI a mainstream technology in finance
• Real success stories of lenders who’ve cut approval times from hours to minutes
• Practical steps to implement automation without disrupting operations

Discover how companies like LBX Capital achieved 311% growth through strategic automation of their credit approval process, transforming what was once a manual process involving “hundreds of emails and hours of coordination” into a streamlined workflow that takes just seven minutes.

The full white paper can be downloaded at Northteq’s website.

Upcoming Webinar: Document Automation for Equipment Finance Lenders

Northteq is also hosting a webinar, 99 Problems But Automated Docs Ain’t One, on March 3, 2025, at 3:30 PM (CST), featuring experts from DocuSign, Finova Capital, Happy Manufacturing and Northteq. The panel will discuss the challenges and solutions of document automation in equipment finance, covering topics such as missing vehicle identification numbers (VINs) and state-specific disclosures.

Learn more about the webinar and register here.