Inverite Insights - INVRF STOCK NEWS

Inverite Insights Inc. (CSE: INVR) (OTC: INVRF) has released case study results demonstrating the success of its AI-powered risk scoring platform in non-prime lending. The study, conducted with one of Canada's largest alternative lenders, showed significant improvements in lending metrics:

Key results include a 44% reduction in loan defaults, 29% increase in annual loan applications, 18% increase in loan approvals, and 92% consumer adoption rate. The study was based on 180,000 annual applications and $30 million in annual originations.

The company's AI-driven cash flow-based Risk Score and Bank Verify solutions have improved accuracy and reduced manual input in loan processing. This innovation comes as Canada introduces consumer-directed finance regulations and reduces maximum allowable interest rates to 35% APR for consumer lenders.

Inverite Insights Inc. (CSE: INVR) reported strong financial results for the six months ending September 30, 2024. Verification fee revenue increased 29% to $616,449, while operating expenses decreased 11% to $1,846,153 compared to the same period in 2023. The company achieved significant cost reductions across multiple areas: administration costs (-24%), consulting fees (-29%), salaries (-13%), and marketing expenses (-57%). Inverite's AI financial database has expanded to include 22 billion data points from over 5.5 million Canadian consumer transactions. The company continues to progress towards cashflow breakeven, focusing on operational efficiency and financial sustainability.

Inverite Insights reports rapid adoption of its Open Banking Platform through Mortgage Automator integration, with approximately 200 private lenders and Mortgage Investment Corporations (MICs) going live in just over one month. The integration includes Instant Bank Verification, Anti-Money Laundering, and Risk Scoring solutions. This represents about half of Mortgage Automator's client base, marking the fastest roll-out strategy using their 'one to many' approach. The platform utilizes real-time financial data and AI-powered risk scoring to transform the mortgage adjudication process for Canadian clients.

Inverite Insights Inc. (CSE: INVR) (OTC: INVRF) and Mortgage Automator have announced a significant milestone in their partnership, with 90+ mortgage lenders now live on Inverite's proprietary Open Banking platform. This integration provides lenders with Instant Bank Verification (IBV), Anti-Money Laundering (AML), and Risk Scoring solutions.

The collaboration, which began on September 24, 2024, has resulted in a highly efficient and secure method for processing mortgage applications. Inverite's real-time financial data and AI-powered risk scoring are transforming the mortgage adjudication process for Canadian clients.

Karim Nanji, CEO of Inverite, expressed enthusiasm about the rapid adoption of their solutions. Joseph Fooks, Founding Partner and Chief Strategy Officer of Mortgage Automator, highlighted how the integration is helping lenders meet FINTRAC requirements while delivering faster service to clients.

As Mortgage Automator's client base grows, both companies anticipate further expansion of Inverite's solutions within the industry, potentially bringing more lenders online in the coming months.

Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) has announced a strategic partnership with Mortgage Automator, integrating Inverite's Instant Bank Verification and Risk/Confidence Scoring solution into Mortgage Automator's platform. This collaboration aims to enhance the mortgage application and approval process for brokers across Canada.

The partnership will provide Mortgage Automator's network of private lenders and Mortgage Investment Corporations (MICs) with advanced tools for faster and more accurate borrower data verification. Mortgage Automator has funded over $30B in mortgages with more than 400 private lenders using their Loan Origination and Management Software platform.

This integration is expected to revolutionize the financial services industry by combining Inverite's real-time data analytics with Mortgage Automator's comprehensive platform, delivering powerful solutions that enhance operational efficiency and decision-making for mortgage lenders and MICs.

Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00), an AI-driven software provider for financial data analysis, has announced a new monthly transaction revenue record for August 2024. The company achieved this milestone while simultaneously reducing operating costs by 11%. Inverite's unique Canadian customer profile count has now exceeded five million, demonstrating growing industry acceptance of its platform and products.

CEO Karim Nanji emphasized the company's focus on achieving cash-flow breakeven as quickly as possible, highlighting Inverite's ability to contribute to top-line revenue growth despite challenging economic conditions. The company's solutions for alternative lenders in the non-prime and underbanked consumer sector continue to be well-received, prioritizing efficient and effective near real-time data analytics while adhering to regulatory standards.

Inverite Insights Inc. (CSE: INVR) (OTC: INVRF) reported strong financial results for the three months ending June 30, 2024. Verification fee revenue increased by 36% to $307,039 compared to the same period last year. The company made significant progress towards cashflow breakeven, with operating expenses decreasing by 11% to $954,600. Key highlights include:

- 15% revenue growth since the last quarter and year-end March 31, 2024
- Administration costs decreased by 42% to $39,999
- Consulting fees decreased by 36% to $138,885
- Salaries and benefits costs decreased by 13% to $321,836
- Normalized Earnings (Loss) reduction of 12% to $694,616

CEO Karim Nanji emphasized the company's progress towards cashflow breakeven and profitability, citing robust demand for their AI-driven software solutions despite challenging macroeconomic conditions for micro and small-cap public companies.

Inverite Insights Inc. (CSE: INVR, OTC: INVRF) has announced a strategic partnership with OpsGuru, North America's leading Amazon Web Services (AWS) Premier Partner. This collaboration aims to enhance Inverite's data protection measures and operational efficiency, leveraging OpsGuru's expertise in secure cloud infrastructures.

Key points of the partnership include:

• Enhanced security protocols for client financial information
• Faster and more reliable financial insights delivery
• Integration of OpsGuru's cloud solutions with Inverite's data processing capabilities
• Setting new standards in financial data management and security

Both companies' executives expressed enthusiasm for the partnership, highlighting its potential to revolutionize the financial services landscape and improve data security and processing speed.

Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) reported its 15-month audited financial results for the period ended March 31, 2024. Key highlights include:

• Total revenue increased by 42% to $1,554,062
• Verification fee revenue grew by 65% to $1,204,267
• Operating expenses increased marginally by 0.31% to $5,120,493
• Net loss reduced to $1,004,920 from $5,292,281 in the previous year

The company is well-positioned to capitalize on Canada's upcoming open banking framework. CEO Karim Nanji emphasized the company's focus on financial sustainability and operational excellence in a challenging macroeconomic environment.