Northteq's May 2024 Release: Introducing Aurora Syndicate, Aurora Fraud360, and Borrower Experience Enhancements.

MINNEAPOLIS, MINNESOTA (May 23, 2024)—Northteq, LLC, a leading provider of Salesforce loan origination solutions, today announced their May 2024 product release. This release features the launch of Aurora Syndicate and Aurora Fraud360, along with key enhancements that optimize the lending process for lenders, borrowers, and funding partners.

For lenders, the new Aurora Syndicate and Fraud360 provide advanced tools for managing syndication and safeguarding against fraud. Partner collaboration is optimized with the Aurora Syndicate Lender Portal, ensuring seamless and secure communication throughout every transaction. Borrowers benefit from an improved borrower application process that drives engagement. Features include an improved user interface and self-service real-time pricing options at their fingertips.

Expanded Product Offerings

• Aurora Syndicate Lender Portal: Automate syndication workflows, streamline decision-making, and facilitate seamless deal submission and tracking within a secure platform. This innovative tool empowers lenders to manage partners efficiently, eliminate email back-and-forth, and achieve optimal capital usage.

• Aurora Fraud360: This powerful tool leverages several integrations with industry leaders like Plaid, Ekata, Middesk, Experian, and Ocrolus to give lenders a holistic view of potential borrower and vendor risk. Utilizing biometric verification, document analysis, behavioral risk checks, and phone/address/email verifications, Fraud360 empowers lenders to safeguard their business and build trust with borrowers.
• Borrower Experience Enhancements: The redesigned Borrower Application empowers users with self-serve functionality, allowing them to choose their pricing options in real time. This eliminates the need for back-and-forth communication and streamlines the application process. Additionally, a revamped document upload process simplifies closing out credit stipulations, ensuring a smooth and efficient user experience.

Salesforce App Updates

• TValue Direct for Salesforce: This latest upgrade easily automates disclosure APR calculations. Pre-loaded features and customizable events further streamline the process, while localized date formats ensure a user-friendly experience.

• Plaid Direct for Salesforce: With the integration of Plaid’s Identity verification data, lenders can Streamline onboarding and strengthen security with enhanced ID verification, KYC checks, and biometric authentication.

• Ocrolus Direct for Salesforce: Utilizing Ocrolus Detect's AI, lenders can verify document authenticity and analyze financial details in-depth. Clear authenticity scores reduce fraud risk and improve credit assessment reliability, empowering faster, more confident decisions.

This latest release reflects Northteq’s ongoing commitment to innovation and a best-in-class lending experience. Explore the full product release notes here. To learn more about how Northteq helps lenders transform and automate their operations or to schedule a demo, visit northteq.com.

About Northteq 

Northteq, Inc. is a Minneapolis, Minnesota-based fintech company that has helped over 175 lenders provide their customers, vendors, and employees with intuitive, thoughtfully designed lending solutions. Aurora, Northteq’s flagship product, is an automated, Salesforce powered loan origination system and partner portal. They also offer turnkey Salesforce apps created through key partnerships with fintech industry leaders, including Middesk, PayNet, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid, and many more.

Northteq is now primarily owned by Arthur Ventures, a respected Minneapolis-based early growth capital firm known for leading investments in B2B software companies. This partnership positions Northteq for continued growth and innovation. Since 2013, Arthur Ventures has partnered with over 50 companies across the United States and Canada. For more information, please visit northteq.com.

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