CapitalStream, a Seattle-based provider of business and commercial credit automation technology for the Financial Services Industry, today announced Fleet Capital Leasing’s Vendor Finance Division as its newest customer to implement FinanceCenter, CapitalStream’s flexible technology platform. Fleet Capital Leasing chose CapitalStream’s solution to allow its Vendor Finance middle market lease origination team to manage its customer relationships in a much more efficient manner.

FinanceCenter provides business credit origination and workflow automation in a single solution that delivers real-time, collaborative decisioning, documentation management and workflow automation capabilities. CapitalStream’s end-to-end solution automates all business credit processes from quote, submittal, and schedule creation and maintenance, to the generation of a credit offering memorandum, credit approval process, and the uploading of funding information to Fleet’s portfolio management platform.

George Lehnertz, division president and CEO of Fleet's Global Vendor Finance Division, said, "Fleet's goal was to provide a powerful suite of management tools to our clients, and the CapitalStream solution does that."

"By providing a superior level of access to information, our clients are better able to manage their sales and funding operations."

"We believe these changes reflect our continuing commitment to the world class service we offer our clients; however, there are many internal benefits as well" Lehnertz pointed out. "The process management features of the CapitalStream product have enabled us to streamline handling routines. That translates into cost savings for Fleet and more importantly, faster and more accurate service to our clients."

"Global Vendor Finance," said Lehnertz, "has been recognized as an industry service leader for years, and these tools will help us maintain that competitive edge."

"The efficiencies created by our business credit automation technology equals more revenue and less risk by ultimately reducing the cost on every transaction,” said Jeff Dirks, president and COO of CapitalStream. "CapitalStream has been leading the way in business and commercial credit automation for many years and will continue to work with companies like Fleet to improve origination and credit processes to reduce costs and achieve greater profitability."

By providing the tools to better manage credit risk, reduce costs, and attract new business by automating manual processes for leases, loans, cards and lines the CapitalStream – FinanceCenter platform has enabled many financial services companies to continue to improve their customer’s experience and increase operating efficiencies.

Fleet Capital Leasing, a unit of FleetBoston Financial, is the second largest bank-owned leasing company in the U.S. and the sixth largest overall. Recent rapid growth has increased assets to in excess of $15 billion. The company operates several unique businesses structured around customer solutions from more than 40 domestic offices as well as international locations strategically situated in London, Dusseldorf, and Latin America. More information is available at Fleet Capital Leasing’s website at www.fleetcapitalleasing.com.

Seattle-based CapitalStream delivers business credit automation solutions for the financial services industry. CapitalStream’s FinanceCenter™ provides tools to better manage credit risk, reduce costs, and attract new business by automating manual processes for leases, loans, lines and cards. CapitalStream, an established industry leader, has helped hundreds of financial organizations increase their competitiveness, customer service and profitability.

Jennifer Fox
Capital Stream, Inc.
206-548-1651
jenniferf@capitalstream.com