Marble Financial Inc has announced that its subsidiary Inverite Verification Inc has been launched by five new industry partners and achieved a new milestone record on daily transaction volume on its platform.
The five industry partners consist of businesses that operate in the alternative lending, auto lending, and rent-to-own sectors, enabling Inverite to continue growing its user base across different verticals while gaining access to more consumer financial data.
In addition, Inverite set a new milestone by achieving 4,000 daily transactions over the past week. At this pace, the company said it expects the unit to exceed its current milestone of 80,000 transactions per month.
Inverites’ connectivity to 286 financial institutions’ access points leads the industry in offering instant banking verification solutions that leverage the banking and credit data of its clients’ users to evaluate their creditworthiness.
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The continued growth of both clients and transactions using the Inverite software is a testament to Inverites’ acceptance and the value proposition it offers to the financial services industry, the company said.
The growth in consumer data collected by Marble’s leading proprietary MyMarble platform enables its AI and Machine Learning technology to provide both lenders and consumers more accurate risk scoring data which will result in the completion of more transactions, customer retention, and prescriptive recommendations to consumers to improve their financial fitness to seek cost-effective credit in the future.
“The recent transaction volumes that we achieved surpasses our expectations and we are proud to see an increase of both clients and customers that have been integrated with Inverite’s platform,” said Karim Nanji, CEO of Marble, in a statement. “In accordance with Marble’s Open Banking strategy, we intend to expand our customer data collection growth as it represents an integral component of our artificial intelligence and machine learning solutions that can help users improve their financial health.”
Lloyd Evetts, director of business development at Inverite, added: “We are pleased to announce that five new clients who operate within key lending sectors have launched Inverite in addition to the substantial increase in transaction volume on our platform. Inverite’s advanced proprietary technology enables fast processing times for our clients’ customer data while providing their customers with a more accurate assessment of their financial and credit information. Moving forward, we plan to continue scaling up our platform to increase Inverite’s reach to more clients and users.”
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