Xerox Financial Services signs Lexmark as its first OEM partner

By Pavithra R

Xerox Holdings Corporation has announced signing Lexmark as the first original equipment manufacturer (OEM) client for Xerox Financial Services (XFS), a new global payments solutions business.

XFS, which finances both the needs of Xerox and third-party workplace technology, will provide financing for selected Lexmark Managed Print Services (MPS) engagements.

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

XFS expands on its decades-long track record 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. It will also continue to support Xerox Business Solutions (XBS) companies, as well as external multi-brand dealers.

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

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

XFS is available in the US and will subsequently roll out internationally.