Inverite Partners with flovver to Integrate Advanced Risk Scoring into FinX Loan Management System

Rhea-AI Summary

Inverite announces a strategic partnership with flovver to integrate its advanced Risk Score into flovver's FinX loan management system. This collaboration will enhance FinX's risk assessment capabilities by leveraging Inverite's machine learning algorithms, providing lenders with comprehensive tools for financial transaction risk assessment. The integration aims to improve loan evaluation processes through detailed financial data aggregation, data enrichment, and advanced analytics. Both companies highlight the benefits of the partnership, including more informed decision-making and time savings for lenders.

Positive

• Inverite's Risk Score integration into flovver's FinX platform enhances risk assessment capabilities.
• The partnership will provide lenders with detailed, accurate risk analyses, improving decision-making.
• The collaboration offers significant time savings by automating parts of the loan adjudication process.

Negative

• None.

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Vancouver, British Columbia--(Newsfile Corp. - July 3, 2024) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) ("Inverite" or the "Company"), is a leading AI-driven software provider of financial data aggregation and instant bank verification services, is thrilled to announce a strategic partnership with flovver, a pioneer in innovative loan management solutions. This collaboration will see Inverite's proprietary Risk Score and advanced data science capabilities integrated into flovver's FinX loan management system, enhancing the platform's risk assessment capabilities.

flovver already offers Inverite's instant bank verification solution through the FinX platform. By integrating Inverite's proprietary Risk Score, FinX will now also offer lenders a comprehensive tool for assessing financial transaction risks. This advanced scoring system leverages machine learning algorithms to provide detailed, accurate risk analyses, enabling more informed decision-making. Lenders using the FinX platform will continue to benefit from Inverite's extensive financial data aggregation, data enrichment and advanced analytics , which includes detailed transaction histories, spending and payment behaviors. This integration will significantly enhance the loan evaluation process.

Karim Nanji, CEO of Inverite states: "Our growing collaboration with flovver represents a significant milestone in enhancing financial services with advanced data science and risk analysis capabilities. Integrating our Risk Score into the FinX platform will empower lenders to make more informed, data-driven decisions. Our unique AI-driven Risk Score and customized Risk Model is quickly becoming mainstream for lenders on our platform as it greatly enhances a lenders' adjudication process in approving loans. We are thrilled that flovver intends to offer both our Risk Score and customized Risk model to the rest of their clients in the FinX ecosystem."

Jimmy Beauregard, CEO of flovver comments: "We are thrilled to begin providing AI-generated risk scores to expedite loan decision-making and help our customers enhance their underwriting processes while minimizing losses. By automating certain actions with these scores, our customers will also experience significant time savings. "

About flovver: flovver is a leading provider of comprehensive loan management solutions, offering a range of tools designed to streamline the lending process for various stakeholders. Their flagship product, FinX, is an all-in-one platform that supports lenders in managing applications, underwriting, loan servicing, and more.

For further information about flovver, please visit: flovver.com.

About Inverite Insights.
Inverite Insights Inc. ("Inverite") (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) is a Vancouver-based, AI-driven software provider specializing in real-time financial data. With a vast database of over seven billion financial data points from more than four million unique Canadian consumers transactions, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management and compliance.

For further information about Inverite, please visit: inverite.com.

ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104 Email: ir@inverite.com

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Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of the proposed transaction nor approved or disapproved the contents of this press release.

Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215256

FAQ

What is the significance of Inverite's partnership with flovver for lenders?

The partnership integrates Inverite's Risk Score into flovver's FinX platform, enhancing lenders' risk assessment capabilities and improving decision-making.

How does Inverite's integration with flovver's FinX system benefit the loan evaluation process?

The integration leverages machine learning algorithms to provide detailed risk analyses, enabling more informed decision-making and time savings for lenders.

What new capabilities will lenders gain from the Inverite and flovver partnership?

Lenders will gain advanced risk assessment tools, including detailed financial data aggregation, data enrichment, and machine learning-driven risk scores.

When was the partnership between Inverite and flovver announced?

The partnership was announced on July 3, 2024.

Which stock symbol is associated with Inverite?

Inverite is associated with the stock symbol INVRF.