12th Tech Unveils uFloorit to Bolster Collateral Verification

The uFloorit platform targets a specific gap in floor plan management: inventory acquired through non-traditional channels. Lenders often struggle to validate assets sourced from private party purchases, dealer-to-dealer transactions, or trades. By requiring authenticated, cryptographically sealed photographs and customizable documentation before an asset hits the floor plan, the tool allows firms to mitigate risk at the point of onboarding rather than waiting for a later audit cycle.

This release aligns with the broader capabilities of the company's flagship Crescendo platform. While the firm built its reputation on physical audits, the current iteration of Crescendo functions as a comprehensive ecosystem for workflow automation, risk analysis, and reconciliation. According to CEO and Founder Mark Abrams, the company’s evolution reflects the changing nature of collateral risk management, moving beyond static documentation toward active, configurable portfolio oversight.