Equipment Finance: End-to-End Automation of & Digital Lending In-house

Equipment finance
  • Staff 1000+
  • Lending staff 7
  • Industry Equipment manufacturing
  • Lending model Equipment Finance & Leasing

Due to the rising demand for digital-first equipment purchasing and the need for streamlined crediting and supply chains that derive from it, the company took on a full digitalization of the equipment finance process for consumers and SMEs with models including equipment financing and leasing, corporate lending, and structured financing.

Problem

On the wave of the COVID-crisis, a wide range of equipment manufacturers, distributors, and resellers decided to embrace FinTech and implement embedded financing programs into their operations. With the high cost of many equipment types, customers are looking for providers who are able to offer easy-to-use, fully digital, and affordable financing in-house and to build relations with the business directly rather than a third-party in form of a bank. 

After a thorough analysis of the embedded financing options, the company felt like a dedicated in-house lending technology platform is the optimal choice in terms of customer experience, the profits the company is able to obtain, and the control the company maintains over every step of the production, financing, and distribution. 

In today’s hyper nimble market, the business needed a flexible solution capable of incorporating complex business logic and automated decisions within intuitive interfaces of a modern SaaS. 

Due to the wide product lineup and a variety of financing models the company wanted to provide, the key was configurability freedom to allow for a smooth experience for the lean staff on the side of the lender as well as to the vendor, business, or customer who are using the platform.

Out of all the providers, the company has held demos, TurnKey Lender outperformed all the competition in terms of functionality available out-of-the-box and on-demand, time-to-market, usability, scalability, as well as the price tag. 

“TurnKey Lender is a powerful enterprise-grade solution capable of tackling unique in-house financing needs of an equipment provider.”

Get case study in PDF

Solution

TurnKey Lender provided the company with an end-to-end embedded lending solution that enables intuitive in-house equipment finance with unmatched configurability freedom, bank-grade scalability, and all the integrations necessary for efficient and accurate crediting in-house. 

Equipment Financing Platform by TurnKey Lender can be set up in compliance with your local and industry regulators and presents a unique combination of financial expertise, risk management and industry know-how designed with the latest SaaS best-practices in mind. 

Custom business and decisioning logic configured with TurnKey Lender allows for automatic loan approval.

  • On average, the company processes 1500+ equipment financing requests a day
  • Of them, an average of 950+ is approved
  • AI-driven underwriting is fueled by bank statement scoring, credit bureau, and firmographics data. 
  • The company offers both consumer and business financing from the single unified lending management platform. 
  • Integration with all the necessary third-party data providers, business tools, and solutions through an advanced built-in API client. 

TurnKey Lender is an intelligent Unified Lending Management system that automates the entire loan life cycle. This digital platform includes application processing, risk assessment, decisioning, loan origination, underwriting, servicing, vendor management, CRM integrations, collection, reporting, archiving, compliance, and more. It also helps to pre-qualify applicants within 2 minutes using the AI-driven credit decisioning engine. This allows for a better experience for both the borrower and the lender in a time when a seamless lending process is important.

As equipment manufacturers, distributors, and resellers across the globe face financial pressures from new economic reality, regulations and imperatives, providers will look to modernize digital infrastructure, technology, and services by adapting to today’s digital shift with innovative technology like TurnKey Lender.

“We were thoroughly impressed by the extent to which TurnKey Lender was able to automate the financing process for us. We were able to deploy the fully functional solution fully tailored to our needs in just two months and we continue to work on implementing new features to serve our clients to the best of our ability”

Start your own success story powered by TurnKey Lender

To learn more about what TurnKey Lender can do for your equipment financing program, reach out to our team at [email protected] and schedule a personalized demo.

U.S. Car Dealership Achieves 50% Annual Growth
Auto Financing

U.S. Car Dealership Achieves 50% Annual Growth

International e-Commerce Business Accelerates Growth By Automating In-House Financing
Invoice and PO Financing

International e-Commerce Business Accelerates Growth By Automating In-House Financing

Confidential – Commercial Bank in Asia-Pacific Region
Commercial Lending

Confidential – Commercial Bank in Asia-Pacific Region

Microlender Safely Issues High-Risk Loans In Under Thirty Minutes
MicroLoans

Microlender Safely Issues High-Risk Loans In Under Thirty Minutes

Local Consumer Lender In Australia Now Competes Effectively Against Big Banks
Consumer Loans

Local Consumer Lender In Australia Now Competes Effectively Against Big Banks

Microlender Outperforms Competition By Using Intelligent Automation
MicroLoans

Microlender Outperforms Competition By Using Intelligent Automation

Receive the TurnKey Lender newsletter
for the latest industry news and updates
about digital lending automation!