Marble’s Inverite Verification Inc. Licenses Its Proprietary Technology Stack With Creditbook Risk Management to Expand Its Credit Decision Product
Marble Financial Inc. (CSE: MRBL; OTC: MRBLF) has announced that its subsidiary, Inverite Verification Inc., signed a license agreement with CreditBook. This partnership aims to enhance risk analysis data within the subprime lending sector. The collaboration will allow Inverite to leverage CreditBook's extensive database of non-registered loans, improving its credit decisioning tools for subprime consumers. Phase 1 will introduce the CreditBook check as a new service, while Phase 2 plans to incorporate this data into Inverite's AI-powered Risk Score. This initiative supports Marble's commitment to financial wellness.
- Inverite's partnership with CreditBook enhances risk analysis capabilities in the subprime market.
- The deal expands Inverite's product offerings and could attract more lending partners.
- Phase 1 introduces a revenue-generating add-on service, potentially increasing revenue streams.
- None.
VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, is pleased to advise that its wholly owned subsidiary, Inverite Verification Inc. (“Inverite”), has executed a license agreement with CreditBook to offer its customers further risk analysis data within the subprime space.
Inverite, a leading Canadian open banking and consumer-directed financial data provider offering innovative, secure, and cost-effective banking verification solutions to the financial services industry has expanded its product offering through a new license agreement with CreditBook to further improve its industry-leading risk score and credit decision tools.
CreditBook is Canada’s largest alternative database of Canadian non-registered loans that specialize in risk management data collection for micro-lenders by providing all alternative loans requested by individuals, whether they have been granted or not. TransUnion recently reported that in 2021 credit inquiries have increased
The inclusion of the CreditBook into Inverite will further improve its value proposition by empowering its lending partners to have more access to people’s creditworthiness with this new dataset of subprime and non-reporting loans that usually not reported to the major bureaus. This additional data will assist Inverite's customers in making more data-driven decisions, thus reducing significant risk and ease of collection and customer tracking.
“We are very excited to be adding CreditBook to Inverite’s industry leading product offering and service.," says Lloyd Evetts Director of Business Development, Inverite. “Many of our partners operate with subprime borrowers and being able to provide more data with CreditBook will not only add to our existing brand value but also empower Inverite to expand its market opportunity as we continue to reach record transaction milestones.”
“Being the only Canadian Database comprised of non-registered loans, at CreditBook we want to help as many Canadian businesses manage risk as effectively as possible,” says Carmine Marcarella & Valerie Robillard, CreditBook Co-Presidents “Our latest engagement with Inverite with expanding the reach of our CreditBook check and something we are very much looking forward to starting.”
As part of the engagement, phase 1 will involve Inverite offering the CreditBook check as a revenue-generating add-on service. Phase 2 consists of inclusion into Inverite's own AI-powered Risk Score.
About CreditBook - Risk Management: As a personal information agency, Creditbook puts technology at the core of their business to help micro lenders minimize risks. CreditBook provides tools such as a real-time database of non-registered Canadian loans and an efficient loan management platform. With their database, one can segment the good customers and reduce fraudulent loan applications.
For further information about CreditBook, please visit: https://creditbook.ca/.
About Inverite Verification Inc.: Inverite is a leading Canadian open banking and consumer-directed finance provider offering innovative, secure and cost-effective banking verification solutions to the financial services industry for income verification, credit decisioning, fraud reduction, and KYC/AML purposes. With support for over 285 Canadian financial institutions, Inverite is the data provider of choice for many of Canada’s leading Lenders, Fintechs and Paytechs.
For further information about Inverite Verification Inc., please visit: www.inverite.com.
About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) Marbles’ proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Inverite, Score-Up, Fast Track and Maestro to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score, since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform.
For further information about Marble Financial, please visit: https://mymarble.ca.
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guaranteeing of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
FAQ
What is the significance of the partnership between Marble Financial and CreditBook?
How will Inverite's product offerings change after the deal with CreditBook?
What financial benefits could Marble Financial gain from the CreditBook agreement?
What are the phases involved in the CreditBook and Inverite engagement?
