AI-powered solution turns hours of manual document work into minutes with automated verification
Minneapolis, MN, October 6, 2025 – Northteq today announced the launch of Aurora IDP (Intelligent Document Processing), an AI-powered solution that transforms how equipment finance lenders handle one of their most time-consuming challenges - extracting and verifying data from invoices, credit applications, and supporting documents.
For most equipment finance lenders, document processing has remained stubbornly manual. Credit analysts spend hours each day transcribing information from PDFs and photos, comparing handwritten applications against digital records, and chasing down dealers to resubmit unclear documents. It's tedious work that pulls skilled analysts away from what they do best.
"We built Aurora IDP because we kept hearing the same frustration from lenders," said David Trost, Director of Product at Northteq. "They'd invested in digital credit applications and portals, but the moment a dealer emails an invoice or a credit app, everything grinds to a halt while someone manually enters that data. We're talking about 3-5 minutes per document, multiplied by dozens or hundreds of documents every day."
Aurora IDP delivers intelligent automation through:
- Automatic data extraction from equipment invoices, credit applications, and identification documents - regardless of format or submission channel
- Instant verification that compares extracted data against existing application information, highlighting discrepancies that could indicate errors or potential fraud
- Multi-channel document intake through email, API integration, portal, and more
- Intelligent matching that automatically associates documents with the correct applications
- Side-by-side comparison views that allow credit analysts to quickly verify accuracy or investigate inconsistencies
"Aurora IDP fundamentally changes the growth equation for equipment finance lenders,” explains Kristian Dolan, CEO at Northteq. "Now, lenders can handle 4-5x more applications with their existing team, which means sales teams can pursue aggressive growth strategies without operational constraints. We're enabling lenders to do higher volumes without sacrificing quality or speed."
The launch of Aurora IDP reflects Northteq's continued focus on solving the practical, day-to-day challenges that slow down equipment finance operations. By automating document processing while maintaining human oversight of critical decisions, Aurora IDP enables lenders to handle higher volumes without sacrificing accuracy or compliance.
Aurora IDP is available now for Aurora LOS customers and can be integrated with existing workflows. The solution includes comprehensive audit trails for compliance purposes and organized document storage that simplifies regulatory reviews.
For more information about Aurora IDP, visit http://northteq.com/AuroraIDP.
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, Truepic, PayNet, Mastercard Identity, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid, and more. By choosing the best partners, Northteq offers lenders partner 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. For more information, please visit northteq.com.