KLC Financial Implements Tamarack Technology’s Artificial Intelligence Platform

St. Paul, Minn. (March 22, 2022) — National equipment leasing and finance company KLC Financial, Inc. has successfully implemented Tamarack.ai, an artificial intelligence (AI) platform from Tamarack Technology, Inc. An element of KLC Financial’s growth strategy, the company is using the fully-integrated AI tool to increase efficiency and accuracy of its decision-making.

“In equipment finance, you have to look at every available tool and technology to help you compete,” said KLC Financial CEO Spencer Thomas, CLFP. “We felt that AI was a tool we needed to adopt into our business processes in order to become more efficient and accurate in our decision-making. With Tamarack.ai, we found a solution that could help us scale and grow using our data and our way of doing deals.”

One of the first companies to implement Tamarack.ai in the second-half of 2021, KLC Financial has already begun to realize positive results and is looking to leverage the tool further. According to Thomas, “Tamarack.ai is helping KLC Financial make decisions on a daily basis on how and which businesses the company goes forward with.”
For KLC Financial, the next step in the implementation of Tamarack.ai is the use of the platform’s prediction capabilities in the automation of processes to further drive digital integration across the organization.

“We have an aggressive growth plan that will rely on the use of the platform’s prediction tools to be more focused and more productive,” said Thomas. “We view Tamarak.ai as a tool to help us reach the ‘right customer’ with the right product at the right pricing, and expand into new markets – to find customers we didn’t think about before and be more confident in our decisions. It is going to empower us to be able to do more and scale faster.”

Designed specifically for the equipment finance industry, Tamarack.ai continuously and autonomously helps reduce capital risk through analysis and learning gained from operational data that reflects an institution’s business processes. The Tamarack Technology team worked closely with KLC to identify the data universally available across past transactions and built it into the model. The Tamarack.ai system is implemented to draw data from all KLC’s digital systems – past and present – for the last five years of business.

“Working closely with an innovator like KLC on the application of Tamarack.ai demonstrated to us the vast potential that the platform has for enabling digital transformation,” said Tamarack Technology President and CDO Scott Nelson, PhD. “The experience highlighted the value of collecting ‘good data;’ specifically the many data points collected during traditional underwriting that can then create predictions of customer, lender, and lessor behaviors.”

About KLC Financial, Inc.
KLC Financial, Inc. is a national equipment leasing and finance company and regional leader in the Upper Midwest with 35 years of history helping small and medium-sized businesses alike receive the financing they need to grow. For more information visit www.klcfinancial.com
About Tamarack Technology, Inc.

Tamarack Technology, Inc. is a leading provider of independent software, operational, and technology services supporting the equipment finance industry. For more than 20 years, Tamarack has been helping lessors protect their investments, improve business performance, and provide customers with access to solutions that enhance operations. The company integrates and supports origination and portfolio management systems as well as critical functions such as lease accounting, sales tax, insurance and UCC compliance. Tamarack's software products connect and integrate key ecosystem applications with real-time data. The company also provides integration, implementation, and data migration services, as well as automation products for several leading industry portfolio management platforms. For more information, please email discover@tamaracknow.com or visit www.tamaracknow.com.