Inverite of Canada teams up with Usolve Financial to elevate real-time risk evaluation
Usolve Financial, an Ontario-based alternative lender, has partnered with Inverite Insights Inc., a leading AI-driven software provider, to leverage Inverite's Bank Verification product and Data Enrichment feature for consumer adjudication.
The collaboration aims to enhance Usolve's adjudication process with consumers, enabling them to make more informed decisions with less friction. Usolve will leverage Inverite's AI-powered Open Banking Ready platform, which provides real-time financial data analysis.
The Bank Verification tool will allow Usolve to reliably verify bank account information and transaction authenticity, reducing fraud risk and improving borrower credibility evaluation. The Data Enrichment feature supplements raw banking data with deeper insights, enabling more accurate risk modeling and faster adjudication decisions.
Nelson Belchior, principal at Usolve, stated that their goal is to make borrowing easier, faster, and more transparent for Canadians. The partnership continues to expand access to responsible credit solutions in Ontario.
Inverite's proprietary Bank Verification product and Data Enrichment feature are integral parts of their AI-based Open Banking Ready Platform. This scalable, cost-effective solution empowers clients like Usolve to power smarter, AI-enhanced risk assessments in their loan approvals across payday, personal, and auto equity loans offered at their physical locations in Ontario.
Karim Nanji, CEO of Inverite, expressed excitement about partnering with Usolve Financial. He noted that the integration of Inverite's technology aims to deliver a more seamless experience to Usolve's customers, both online and in-person.
Usolve Financial operates in Ontario, Canada, and offers various financial services including online lending, payday, personal, auto equity loans, cheque cashing, and money transfers. The integration of Inverite's technology is expected to improve overall customer experience through AI-driven insights.
In addition, an insider has invested $30,000 in convertible debentures, indicating internal confidence in the partnership and the technology's potential impact on Usolve’s lending operations.
In summary, the collaboration between Inverite and Usolve Financial enables Usolve to use real-time banking data for precise loan applicant verification, enhance risk assessment and loan adjudication effectiveness, improve overall customer experience, reduce fraud and financial risk in lending with bank data validation and enrichment.
Read also:
- EA Relies on Madden and Battlefield to Drive Microtransactions Recovery
- Expense for Creating a Digital Platform for Fantasy Sports
- AI-Enhanced Battery-Swapping Station in Southeast Asia Officially Opens Its Doors
- Honda unveils blueprint for design, advanced driver assistance systems, electric vehicles, fuel efficiency, and technology development
