Reflecting the changing application of technology within the equipment finance industry, Tamarack has named Scott Nelson as the company’s chief technology officer (CTO).

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Equipment Finance companies and banks are two industries irreversibly tied together by funding. The partnership is often collaborative, sometimes competitive and sometimes strategic via mergers and acquisitions.

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The equipment finance industry is turning toward developing technology like AI to bolster operations and reduce costs, and investment in relevant technology should see an increase in 2024.

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The key to managing risk is avoiding undesirable outcomes; so if a business can identify ways to lose with AI, the odds of gaining competitive advantage using it go up.

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Happy Holidays and Season’s Greetings. We find ourselves in that time of year again – snow shoveling, gift wrapping, overeating, gathering with family, and looking both ways before we cross the busy road of technology trends.

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Many technology and operational leaders will read the 2023 US Bank CFO report and say – “Cost control is a nail again and technology is the hammer. Nothing new here.” But this would be a short-sighted read and miss the opportunity to partner with the CFOs to leverage the most impactful technology trend in the past 20 years for equipment finance, AI.

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