Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0) ("Marble" or the "Company"), an AI-driven financial technology company, is pleased to announce that its wholly owned B2B subsidiary, Inverite Verification Inc. ("Inverite") has gone live with its banking verification software with FinExpert ("FinX"), a leading provider of B2B FinTech solutions.
Founded in 2017, FinX offers a unique loan management platform to businesses within the lending space. More than 150,000 loans have been taken out, to date, and over 2.5 million transactions have been completed per year through FinX's platform. Given the high transaction volume on FinX, Inverite has been selected as the partner to integrate its cost-effective and cutting-edge instant banking verification solutions along with its connectivity to its industry-leading 286 financial institutions' access points, which enables Inverite's clients to complete thousands of transactions per week.
Inverite's proprietary open banking platform assesses and verifies a user's banking information in near real-time, leading to a faster decision-making process in generating lending profiles. With a database of over 1 million users on FinX's platform, the integration of Inverite's solution will result in a robust automated loan management system that is suited for businesses operating in the alternative lending space.
"We are pleased to integrate our technology platform with Inverite's verification software solutions," said Jimmy Beauregard, Founder of FinX. "This collaboration will help us optimize our service offering for all clients that use our loan management software and provide an optimal experience for over a million users."
"With alternative financial services growing in demand, we are excited to not only secure a new client partnership for Inverite but also, complete the integration of our software with FinX's B2B product," said Lloyd Evetts, Director of Business Development with Inverite. "Our technology provides a competitive advantage that can help lenders complete more transactions seamlessly, leading to higher customer retention. Securing this partnership with FinX enables us to advance our Open-Banking strategy by increasing our reach to more users through their client network. We look forward to working with them."
The total transaction value in the North American alternative lending sector is expected to grow at a compound annual growth rate of 1.02% and is projected to reach US$9.27 billion by 2025 which underscores the need for advanced banking verification solutions.1 As previously announced, five industry partners went live with the Inverite software in November 2021 and FinX represents latest client to launch Inverite's software on their platform in recent months.
Additionally, Marble signed multiple client licensing agreements for Inverite's technology solutions last year, which are on track to go live in 2022.
About FinExpert: FinExpert ("FinX") is a Fintech company offering a thorough lending automation platform. Our FinX product will help you manage all of your operations whether you are a start-up or an established business. Since 2017, more than 150,000 loans have been taken out through FinX.
For more information, please visit: finexpert.io
About Inverite Verification Inc.: a Canadian open banking and consumer-directed finance provider offers banking verification solutions to the financial services industry for income verification, credit decisioning, fraud reduction, and know-your client/anti-money laundering purposes. Inverite operates a cloud-based SaaS platform such that its technology solutions can be integrated into customer systems. Inverite currently offers three SaaS services to customers, namely, Bank Verification, ID Verification and Risk Scoring. Inverite can access data from approximately 286 Canadian financial institutions and offers multiple application programming interfaces to access up to one year of user financial data in seconds for its bank verification service, and has plugins available for most popular e-Commerce platforms, including WooCommerce and Shopify.
For further information about Inverite, please visit: Inverite.com
About Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0): Marble's proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Connect, Inverite, MyMarble, Fast-Track, Learn and Boost 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, please visit: 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, including with respect to the Company's intention or ability to complete the Proposed Offering, the timing of closing the Proposed Offering and the intended use of proceeds from the Proposed Offering Forward-looking statements, without limitation, may contain the words beliefs, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements do not guarantee 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.
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