Tamarack Technology, a provider of software solutions for the equipment finance and commercial lending industries, launched an artificial intelligence offering: Tamarack.ai.

The new offering is a business intelligence and productivity platform that applies machine learning and AI to continuously and autonomously help institutions reduce capital risk through analysis and learning gained from operational data.

“Reducing risk is essential in the equipment finance industry and the best way to achieve that is through analysis and learning gained from experience,” Daniel Nelson, founder and CEO of Tamarack Technology, said. “With Tamarack.ai, we are empowering organizations to unlock dark data hidden within their systems in order to predict business outcomes and streamline decision-making.”

A fully-integrated AI tool designed specifically for the equipment finance industry, Tamarack.ai was designed to continuously and autonomously help reduce capital risk through analysis and learning gained from operational data that reflects an institution’s business processes. The program’s predictor applications learn from experiences and predict business outcomes to streamline decision-making with quantified risk assessment.

“In today’s marketplace, the speed and accuracy of decisions are two variables that institutions can impact through access to data,” Nelson said. “The Tamarack.ai platform leverages the data already being collected to predict business outcomes like payment delinquency, pricing and funding. With this knowledge, institutions can move faster and with confidence in their decisions.”

Tamarack.ai provides visibility of and access to financial and operational data, the ability to aggregate data from disparate sources and insights from analytics and reporting tools.

The initial two Tamarack.ai software-as-a-service products are designed to enhance the productivity and revenue capabilities of equipment finance companies by leveraging both financial and operational data. The two products include:

• Data Console, which is a business intelligence solution that includes personalized reporting services, a portal with visibility to all data and results as well as DataMart, where the data is stored
• Predictors, which use AI applications to predict outcomes related to credit and payment decisions

Tamarack.ai is offered in three product bundles (core, standard and enterprise) to address the varied needs of institutions with tiered pricing based on the value of total managed assets and a one-time set-up and implementation fee.