Email page PDF view Print view Email Alert Social Media Sharing

Press Release

TCF Equipment Finance Receives 2007 Operations & Technology Excellence Award

Company Release - 6/4/2007 4:36 PM ET


TCF Equipment Finance, Inc. (TCFEF), a wholly owned subsidiary of TCF National Bank (TCF), announced that it has received an Equipment Leasing and Finance Association (ELFA) 2007 Operations & Technology Excellence (O&TE) Award for the implementation of its new integrated front-end system replacement project. The award-winning project deployed a unified web-based system for processing equipment leases and loans from vendors, sources and direct sales representatives from the transaction application submission stage through the credit approval, equipment management, documentation, funding and booking processes. Built on CapitalStream's FinanceCenter platform, the system allows every stakeholder in a transaction to access up-to-date status and task management for each transaction.

TCFEF was selected by the Operations and Technology Conference Award Committee which is comprised of three judges who are executives with leading equipment leasing companies from different segments of the industry. The ELFA held its Operations and Technology ConferenceMay 16 - 19 in Chicago, IL where TCFEF and CapitalStream were showcased by presenting an overview of the project and process during a general session of the conference.

"The Operations & Technology Excellence Award recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI," said Kenneth E. Bentsen, Jr., President of the Equipment Leasing and Finance Association. "This award to TCF Equipment Finance underscores the importance of leveraging technology for strategic advantage."

"The success of this project was the direct result of the passion, commitment and hard work of the employees from every functional area of the TCFEF organization along with the dedicated technical support of the CapitalStream team," stated William Henak, EVP and COO, TCF Equipment Finance, Inc. "With the implementation of this system TCFEF has a solid platform from which to continue building operational efficiencies and automation improvements to enhance our customers overall experiences with TCFEF. The completion of this project is consistent with our mission to continually develop and improve world class systems and processes."

"CapitalStream is proud to have worked with TCF Equipment Finance to implement FinanceCenter as its transaction processing platform," stated Kevin Riegelsberger, CapitalStream's President and CEO. "TCFEF exemplifies how systems automation can have a significant impact on the equipment finance business by decreasing costs, shortening processing times, increasing consistency and improving access to information."

TCFEF is a subsidiary of TCF Financial Corporation (NYSE:TCB), a Wayzata, MN-based national financial holding company with assets exceeding $14.8 billion.

CapitalStream provides software and consulting services that enable commercial banks and finance companies to collaborate, integrate and operate more effectively across their front office operations.

The Equipment Leasing and Finance Association (ELFA) is the trade association representing financial services companies and manufacturers engaged in financing the utilization and investment in capital goods.

Source: TCF Financial Corporation

Contact: TCF Financial Corporation, Wayzata Jason Korstange, 952-745-2755

The information that is on or available through this site speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. TCF Financial Corporation does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.