Xerox signed Lexmark as the first original equipment manufacturer client for Xerox Financial Services (XFS), a new global payments solutions business. XFS, which finances both Xerox and third-party workplace technology needs, will provide financing for selected Lexmark managed print services (MPS) engagements.

“Lexmark selected XFS as a financing partner based on their experience in imaging products and services,” Brock Saladin, senior vice president and chief commercial officer for Lexmark, said. “We look forward to working with XFS to provide additional financing options for this important part of our business.”

XFS provides financing for software, hardware, IT services and other assets sold by both Xerox and third-party companies. XFS also will continue to support Xerox Business Solutions (XBS) companies, as well as external multi-brand dealers. XFS provides bundled offerings and uses robotic process automation for loan processing.

“Businesses are reimagining their workplaces to maximize productivity, flexibility and collaboration for a post-COVID world,” Nicole Torraco, senior vice president of Xerox Financial Services, said. “XFS makes leasing and financing easier by bringing the stability and trustworthiness of Xerox plus fintech-like speed, simplicity and automation to the process.”

Torraco is leading the XFS business after serving as Xerox’s chief strategy and M&A officer. Prior to joining Xerox in 2018, she spent more than a decade in the hedge fund industry.