Xerox signs first client for new financial services business

Xerox Holdings Corp. has signed Lexmark International Inc. as its first original equipment manufacturer client for Xerox Financial Services (XFS), the company’s new global payments solutions business. XFS, which finances both Xerox and third-party workplace technology needs, will provide financing for selected Lexmark Managed Print Services (MPS) engagements, Xerox said on Wednesday.

“Lexmark selected XFS as a financing partner based on their experience in imaging products and services,” said Brock Saladin, senior vice president and chief commercial officer for Lexmark. “We look forward to working with XFS to provide additional financing options for this important part of our business.”

XFS was designed to expand on a decades-long history of financing Xerox equipment and services to become a one-stop-shop for financing critical workplace needs including software, hardware, IT services and other assets sold by both Xerox and third-party companies. XFS also will continue to support Xerox Business Solutions (XBS) companies, as well as external multi-brand dealers, the company said.

In addition to offering simplified billing and bundled offerings, XFS will use robotic process automation to power near-instant loan processing, creating a seamless customer experience.

Nicole Torraco
Nicole Torraco

“Businesses are reimagining their workplaces to maximize productivity, flexibility and collaboration for a post-COVID world,” said XFS Senior Vice President Nicole Torraco. “XFS makes leasing and financing easier by bringing the stability and trustworthiness of Xerox plus fintech-like speed, simplicity and automation to the process.”

Torraco will lead the business after previously serving as Xerox’s chief strategy and M&A officer. Prior to joining Xerox in 2018, she spent more than a decade in the hedge fund industry.

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