Tamarack.ai reduces capital risk through access and analysis of operational data
Tamarack Technology, Inc. has launched its artificial intelligence (AI) offering. Tamarack.ai is a business intelligence and productivity platform that applies machine learning and AI to continuously and autonomously help institutions reduce capital risk through analysis and learning gained from operational data.
“Reducing risk is essential in the equipment finance industry and the best way to achieve that is through analysis and learning gained from experience,” said Tamarack founder and CEO, Daniel Nelson. “With Tamarack.ai, we are empowering organizations to unlock dark data hidden within their systems in order to predict business outcomes and streamline decision-making.”
A fully-integrated AI tool 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. Predictor applications learn from experiences and predict business outcomes to streamline decision-making with quantified risk assessment.
“In today’s marketplace, the speed and accuracy of decisions are two variables that institutions can impact through access to data,” said Nelson. “The Tamarack.ai platform leverages the data already being collected to predict business outcomes like payment delinquency, pricing, and funding. With this knowledge, institutions can move faster and with confidence in their decisions.”
Tamarack.ai provides full visibility of and access to financial and operational data, the ability to aggregate data from disparate sources, and insights from analytics and reporting tools – offering digital innovation to support financial transformation.
The initial two Tamarack.ai SaaS products are designed to enhance the productivity and revenue capabilities of equipment finance companies by leveraging both financial and operational data.
- Data Console is a business intelligence solution that includes personalized reporting services, a portal with visibility to all data and results, as well as DataMart, where the data is stored.
- Predictors use AI applications to predict outcomes related to credit and payment decisions.
Tamarack.ai is offered in three product bundles (core, standard and enterprise) to address the varied needs of institutions with tiered pricing based on the value of total managed assets and a one-time set-up and implementation fee.
Tamarack.ai Launch Q&A
1. What is Tamarack.ai and what does it do?
Tamarack.ai is an artificial intelligence platform that aggregates and leverages data to predict business outcomes like payment delinquency, pricing, and funding to accelerate the speed and accuracy of an institution’s financial decisions.
2. What are the benefits of using Tamarack.ai?
Tamarack’s AI tools help create an immediate competitive advantage in the short-term and allow institutions to scale performance over time. The Data Console provides a business intelligence framework, accessible via Microsoft Office 365 via Power BI, for all of an institution’s data in one place. Tamarack’s PowerBI workbooks provide out-of-the-box analytics and visualization of the key measures necessary to run the business.
Tamarack’s Predictors facilitate faster decisions with better data – less risk. Operational policies can leverage prediction results to fully automate the front-end workflow of the business.
3. How does Tamarack.ai work?
Tamarack.ai leverages both financial and operational data to enhance productivity and drive more revenue. The Data Console aggregates all of an institution’s data streams using modern software architecture and tools in the cloud. Tamarack uses the Microsoft Azure and Power (BI, Apps, and Automate) platforms so the platform is fully compatible with any organization using Office 365. Additionally, the platform uses the access and security controls that Microsoft provides – e.g., Defender, Identity Management, and Active Directory.
4. What types of organizations can benefit from Tamarack.ai?
Tamarack.ai provides an operational data advantage to independent lessors, finance companies and industrial OEMs who want to make better use of their data and improve their competitive position. Tamarack.ai is a fully integrated AI tool that continuously and autonomously helps reduce capital risk through analysis and learning gained from operational data.
5. What types of systems does Tamarack.ai work with?
Tamarack.ai is built with a modern software architecture and tools that ingest data via APIs or CSV files from almost any system an equipment finance company might use. The Data Console anticipates data from Lease Origination Systems (LOS) and Customer Resource Management (CRM) systems on the front end, a wide range of third-party data like credit scores, Know Your Customer (KYC), and credit bureau data, and then portfolio data from both Contract Management Systems (CMS) and operational equipment systems leveraging IoT.
6. How long does it take to set up?
When a customer is using common LOS, CMS, and CRM systems in the industry, Tamarack will likely have all the integrations in hand, so Data Console set ups are typically less than two weeks. Predictors require training and data integrity work that can extend to four weeks typically.
7. How does Tamarack.ai impact an organization's workforce?
Tamarack.ai uses AI to enhance the productivity of the workforce – sales, credit, contracts, portfolio management, and general management. Tamarack.ai makes an institution’s way of doing business and their staff more valuable.