Xerox signs Lexmark as the first original equipment manufacturer client for Xerox Financial Services (XFS), their new global payments solutions business.
Xerox Holdings Corporation has announce the signing of Lexmark as their first original equipment manufacturer (OEM) client for Xerox Financial Services (XFS), their new global payments solutions business. XFS, which finances both Xerox and third-party workplace technology needs, will now 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,” 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.”
Earlier this month The Recycler reported Xerox had announced organisational changes to support plans to create three new businesses – Software, Financing and Innovation. Nicole Torraco was promoted to lead XFS.
Commenting on the Lexmark deal Torraco said: “Businesses are reimagining their workplaces to maximize productivity, flexibility and collaboration for a post-COVID world,” adding “XFS makes leasing and financing easier by bringing the stability and trustworthiness of Xerox plus fintech-like speed, simplicity, and automation to the process.”
XFS will be a one-stop shop for financing critical workplace needs 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.
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.
Our take on this deal: In the mature print market, collaboration is a necessary and positive step forward. It is notable that Lexmark is the first (of many) OEM, and possibly a sign of closer ties between the two OEMs.
