Northteq’s September product release elevates syndication automation, borrower experience, and 1071

MINNEAPOLIS, MINNESOTA (September 18, 2024)—Northteq, LLC, a leading provider of loan origination and borrower and vendor engagement software, proudly announces the latest updates to its Aurora platform, featuring enhanced functionality for both Aurora’s borrower portal and syndication capabilities. In this latest product release, Northteq delivers even more powerful technological tools that help lenders increase revenue, automate their workflows, and create intelligent lending decisions.

Aurora Intake offers a seamless, white-labeled borrower experience that is Section 1071-ready, while Aurora Syndicate optimizes the management of syndicated loans. Focused on improving the borrower experience, automating manual processes, and building stronger syndication relationships, the enhancements ensure lenders have the tools to respond quickly to emerging market needs. 

Aurora Syndicate – Automated, Smarter, Tightly Integrated Syndication

Building on its May release, Northteq has introduced enhancements to Aurora Syndicate designed to help lenders automate, optimize, and streamline syndication, all while maintaining and strengthening relationships with their funding partners. With automated syndication decisions, lenders can determine whether to keep deals on their balance sheets or syndicate them to partners—maximizing capital usage with minimal intervention. Pricing optimization ensures sales teams have the data they need to structure and price deals based on syndication partner criteria, allowing them to deliver competitive, customized offers upfront that align with partner expectations.

The platform now features automated API-driven syndication, securely transferring data and documents between lenders and syndication partners to speed up deal flow and reduce manual tasks. Centralized communication ensures all syndication interactions are organized and timely, eliminating lost emails and missed opportunities, while real-time tracking in the Lender Portal builds relationship transparency with partners and improves deal outcomes.

Aurora Syndicate now offers data-driven lender selection, recommending the best syndication partner for each deal by analyzing past performance, current capacity, industry concentration, and deal specifics. This enables lenders to maximize the value of syndication opportunities while protecting their portfolios.

Aurora Intake – A Seamless, White-Labeled Borrower Experience

Aurora Intake engages with the borrower on any device or platform. The newly enhanced system allows lenders to capture loan or lease applications through multiple channels, with automated features like AI-powered OCR to process handwritten forms, reducing manual data entry and saving time. Lenders can customize the branding and field options, delivering a polished, white-labeled, secure experience with session-based customer authentication.

Aurora Intake now offers enhanced security measures to protect sensitive customer data exchanges and safeguard against potential threats. Northteq has revamped the platform’s architecture to strengthen these protections further, ensuring that applicant data remains secure. Aurora Intake ensures accurate reporting while enhancing borrower engagement with its built-in compliance features that are Section 1071-ready.

Salesforce Application Enhancements

Aurora now fully supports DocuSign’s migration to OAuth, ensuring a smoother, more secure document signing process. In addition, UCC Direct has expanded its capabilities to allow lien filings in Puerto Rico, streamlining collateral management for lenders operating in diverse regions. Updates were also made to PayNet Direct, Ocrolus Direct, and others.

This latest release reflects Northteq’s ongoing commitment to innovation and creating more intelligent lending decisions. Explore the full product release notes here. 

About Northteq 

Northteq, LLC is a Minneapolis, Minnesota-based fintech company that has empowered over 175 lenders to provide their borrowers, vendors, and employees with automated lending solutions that increase revenue and create better lending decisions. Aurora, Northteq’s flagship product, is an automated, Salesforce-powered loan origination system, vendor, and borrower portal.

Northteq carefully selects partnerships with industry leading providers in credit, fraud detection, and other essential areas such as Middesk, PayNet, Ekata, FICO, Equifax, Experience, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid and more. By choosing the best partners, Northteq offers lenders streamlined turnkey app integrations that allow them to make smarter, automated lending decisions.

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.