Hi everybody,

Wow – hard to believe we are already through Q1 of 2022! For me, the combo of St. Patrick’s Day and March Madness marks a clear boundary between winter and spring. Don’t get me wrong, here in the Upper Midwest we can still get whacked with a winter storm delivering 6 to 10 inches of snow. But it is always short-lived. The time comes to put away the snow shovels, skis and snow tires.

My thoughts turn to bikes, boats and beaches.

Just this week, I took my mountain bike down from storage and, after a quick tune-up, cranked out a 15-mile ride. It was great to be back in the saddle again – although the next day I was reminded of the ride whenever going up or down stairs.

Strangely enough, I found that feeling analogous to my experience returning to the ELFA Executive Roundtable (ERT) conference, which had been suspended in 2021. It was great meeting old friends and making new acquaintances – an I-haven’t-used-those-muscles-in-awhile feeling I haven’t had in two years.

In fact, the organizational changes that we announced last month will enable me to attend even more industry events than before. Up next is the NEFA Finance Summit in Southern California and then ELFA’s Capitol Connections in May.

I hope you are enjoying the warmer weather and look forward to a “group ride” with you soon!

– Daniel Nelson, CEO, Tamarack

In this issue:

• Tamarack Trail Mix: Automating ACH Return/NFS Processing
• KLC Financial Implements Tamarack.ai
• Tamarack Named Innovative Company for Second Year
• Andrew Hedstrom Tapped to Lead Sales
• Nelson joins Reliance Bank Board of Directors
• Learning from March Madness: Are seeds good predictors?
• Realizing the Benefits of AI in Equipment Finance
• Digital Business 101: Five Steps to Faster and Better

Automating ACH Return/NFS Processing

This month’s Trail Mix is a flashback to January 2021.

Challenge: If you use the Automated Clearing House (ACH) module to automatically collect payments, you may find yourself or your team bogged down with manually processing NSF and other ACH return codes. Do you know you can configure the system to reverse ACH payments due to reasons such as insufficient funds or invalid account numbers? Additionally, you can configure the system to automatically assess an ACH Return Fee.

KLC Financial Implements Tamarack.ai

National equipment leasing and finance company KLC Financial Inc. has successfully implemented Tamarack.ai, an artificial intelligence (AI) platform. An element of KLC Financial’s growth strategy, the fully integrated AI tool is being used to increase the efficiency and accuracy of the company’s decision-making processes. One of the first companies to implement Tamarack.ai, KLC Financial has already begun to realize positive results and is looking to leverage the tool further.

Tamarack Named Innovative Company for Second Year

For the second year in a row, Tamarack Technology has been named to Monitor's list of “Innovative Companies." Selected by the publication's editorial board and staff, Tamarack was recognized as a “Sustaining Innovator” for its commitment to continuous improvement through innovation and for staying at the forefront of technology change.

Andrew Hedstrom Tapped to Lead Sales

Tamarack has hired Andrew Hedstrom as Director of Sales. In this role, Hedstrom will lead the development of a dedicated sales team to support the company’s product and service offering as well as the recently launched Tamarack.ai platform.

Nelson joins Reliance Bank Board of Directors

Reliance Bank of Faribault, Minnesota, has named Tamarack President and Chief Digital Officer Scott Nelson, PhD to its board of directors. Since June 2021, Nelson has provided guidance regarding the adoption and advancement of digital technology as part of his role on the bank's advisory board.

Learning from March Madness: Are seeds good predictors?

It’s March Madness and, if you’re like millions of Americans, you’ve made your picks and filled out a bracket for the NCAA basketball tournaments. For many, their brackets are informed by seedings which give everyone “expert insight” into which team should win each game. Similarly, if you are a credit analyst or involved in underwriting, you’re thinking about credit scores and predictions of payment delinquency. In this timely blog post, Scott Nelson explores the prediction similarities between successfully picking tourney brackets and selecting credit applications.

Realizing the Benefits of AI in Equipment Finance

The “Leasing Avenues” blog recently interviewed Tamarack president and CDO Scott Nelson on the state of artificial intelligence (AI) in the equipment leasing and finance industry. In a series of five short video segments, Nelson explains how even small lessors can realize substantial benefits from AI, machine learning and natural language processing. Spoiler Alert: AI is now affordable and feasible to implement in less than a year.

Digital Business 101: Five Steps to Faster and Better

The transformation into a digital business starts with the adoption of the right technology. In a web exclusive for Monitor, Tamarack president and CDO Scott Nelson and Solifi CMO Ray Wizbowski dig into the steps it takes to become a digital business.

See more posts and connect with us at TamarackNow.com

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