Investing in Innovation: How Marble's Inverite AI Platform is Revolutionizing the Lending Landscape

A pioneering AI-driven financial technology company is making waves in the world of fintech. The company, known for its innovative subsidiary, Inverite Verification Inc., recently achieved a remarkable milestone - a new monthly transaction record in August 2023. Let's dive into the details of this achievement and explore how Marble Financial is transforming the lending industry.

Breaking Records in a Challenging Financial Landscape

Inverite Verification Inc., Marble Financial's wholly-owned subsidiary, is a frontrunner in providing instant online verification solutions for lenders. In August 2023, Inverite achieved a new monthly transaction volume record, with a staggering 17% increase compared to the previous record set in May of the same year. This achievement pushed Inverite's total unique Canadian customer profiles to over 3.3 million, underlining the industry's trust and confidence in its platform and products.

Karim Nanji, CEO of Marble Financial, highlighted the significance of this milestone, especially in today's challenging financial climate characterized by high interest rates and inflation. He stated, "Inverite continues to contribute growth in the Company's top-line revenue and the acceptance by the alternative lenders in Canada. Inverite service offerings are providing value in their decision-making and adjudication process, in particular, our Inverite Score assists lenders in determining the likelihood to pay and probability of default, which is extremely positive for our AI and Data Science initiatives."

Revolutionizing Lending with Advanced AI

At the core of Inverite's success is its commitment to innovation and the utilization of cutting-edge artificial intelligence. Inverite offers a comprehensive solution tailored for alternative lenders, incorporating real-time identity verification and bank account validation tools. These tools enable lenders to make swift and precise assessments of loan applicants.

The platform is designed with a focus on both efficiency and compliance with regulatory standards, ensuring a smooth approval and onboarding process for customers. One of its standout features is the Confidence Score, an advanced AI-driven metric. This Score evaluates customers' propensity to meet their payment commitments or default. By benchmarking this Score against the performance of short-term loans, it equips alternative lenders with refined insights into borrowers' payment probabilities.

This tool is invaluable for lending institutions specializing in short-term loans, helping them strategically segment their portfolios and identify borrowers with minimal default risk. Integrated into the loan adjudication process, this data empowers lenders to make well-informed decisions, ultimately aiming to reduce default rates.

Inverite Verification Inc.: A Game-Changer in Fintech

Inverite Verification Inc., a Canadian open banking and consumer-directed finance provider, offers banking verification solutions that serve income verification, credit decisioning, fraud reduction, and know-your-client/anti-money laundering purposes. The company operates a cloud-based SaaS platform, allowing its technology solutions to seamlessly integrate into customer systems.

Currently, Inverite provides three SaaS services to customers: Bank Verification, ID Verification, and Confidence Scoring. It serves 100 active alternative lenders, granting them access to data from 286 Canadian financial institutions. Additionally, it offers multiple application programming interfaces (APIs) to access up to one year of user financial data within seconds through its bank verification service. Inverite even has plugins available for popular e-commerce platforms, including WooCommerce and Shopify.

Conclusion: Marble Financial Inc. - A Beacon of Innovation

Inverite Verification Inc.'s recent achievement underscores Marble Financial's commitment to innovation and excellence in the fintech sector. With AI-driven solutions that empower lenders to make smarter, data-backed decisions, Marble Financial is revolutionizing the lending landscape.

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