MRBLF - Marble's Inverite Verification Inc. Licenses its Proprietary Technology Stack with CreditBook Risk Management to Expand its Credit Decision Product
(TheNewswire)
Vancouver, BC - TheNewswire - September 16, 2021 - Marble Financial Inc. (C NSX :MRBL. CN) ( OTC:MRBLF ) ( FSE:2V0) (“Marble” or the “Company”), an AI-driven financialtechnology company that educates and helps Canadians better understandand manage their current cash flow and credit towards a betterfinancial future, is pleased to advise that its wholly ownedsubsidiary, Inverite Verification Inc. (“Inverite”), has executeda license agreement with CreditBook to offer its customers furtherrisk analysis data within the subprime space.
Inverite, a leading Canadian open banking andconsumer-directed financial data provider offering innovative, secure,and cost-effective banking verification solutions to the financialservices industry has expanded its product offering through a newlicense agreement with CreditBook to further improve itsindustry-leading risk score and credit decision tools.
CreditBook is Canada’s largest alternative databaseof Canadian non-registered loans that specialize in risk managementdata collection for micro-lenders by providing all alternative loansrequested by individuals, whether they have been granted ornot. TransUnion recently reported that in 2021credit inquiries have increased 5% with subprime consumers making upthe largest segment 1 , presenting the value for a morecomprehensive overview for a large number of consumers and theirfinancial history when considering the creditworthiness for subprimeindividuals applying for credit.
The inclusion of the CreditBook into Inverite willfurther improve its value proposition by empowering its lendingpartners to have more access to people’s creditworthiness with thisnew dataset of subprime and non-reporting loans that usually notreported to the major bureaus. This additional data will assistInverite's customers in making more data-driven decisions, thusreducing significant risk and ease of collection and customertracking.
“We are very excited to be adding CreditBook toInverite’s industry leading product offering and service.,"says Lloyd Evetts Director of Business Development, Inverite. “Manyof our partners operate with subprime borrowers and being able toprovide more data with CreditBook will not only add to our existingbrand value but also empower Inverite to expand its market opportunityas we continue to reach record transaction milestones.”
“Being the only Canadian Database comprised ofnon-registered loans, at CreditBook we want to help as many Canadianbusinesses manage risk as effectively as possible,” says CarmineMarcarella & Valerie Robillard, CreditBook Co-Presidents “Ourlatest engagement with Inverite with expanding the reach of ourCreditBook check and something we are very much looking forward tostarting.”
As part of the engagement, phase 1 will involveInverite offering the CreditBook check as a revenue-generating add-onservice. Phase 2 consists of inclusion into Inverite's own AI-poweredRisk Score.
About CreditBook - RiskManagement: As a personal information agency,Creditbook puts technology at the core of their business to help microlenders minimize risks. CreditBook provides tools such as a real-timedatabase of non-registered Canadian loans and an efficient loanmanagement platform. With their database, one can segment the goodcustomers 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 andconsumer-directed finance provider offering innovative, secure andcost-effective banking verification solutions to the financialservices industry for income verification, credit decisioning, fraudreduction, and KYC/AML purposes. With support for over 285 Canadianfinancial institutions, Inverite is the data provider of choice formany of Canada’s leading Lenders, Fintechs and Paytechs.
For further information about Inverite VerificationInc., please visit: www.inverite.com
About Marble Financial Inc. (CSE:MRBL; OTC: MRBLF; FSE:2V0) Marbles’proprietary MyMarble platform utilizes the power ofmachine learning, data science, and artificial intelligence, inleveraging its proven data-driven strategies through technologysolutions Inverite, Score-Up, Fast Track and Maestro to engage in andnavigate a clear path towards financial wellbeing and a meaningfulcredit score, since 2016, Marble is proud to have empowered thousandsof marginalized consumers to a positivefinancial future, and we continue to establish ourselves as leaders infinancial wellness through the licensing of our proprietary productson the MyMarble Platform.
For further information about Marble Financial, pleasevisit: https://mymarble.ca
Mike Marrandino, ExecutiveChairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-LookingInformation
This release contains forward-looking statements.Forward-looking statements, without limitation, may contain the wordsbelieves, expects, anticipates, estimates, intends, plans, or similarexpressions. Forward-looking statements are not guaranteeing of futureperformance. They involve risks, uncertainties and assumptions andactual results could differ materially from those anticipated. Forwardlooking statements are based on the opinions and estimates ofmanagement at the date the statements are made and are subject to avariety of risks and uncertainties and other factors that could causeactual events or results to differ materially from those projected inthe forward-looking statements. Except for historical facts, thestatements in this news release, as well as oral statements or otherwritten statements made or to be made by Marble, are forward-lookingand involve risks and uncertainties. The forward-looking informationincluded in this release is expressly qualified in its entirety bythis cautionary statement. Accordingly, readers should not place unduereliance on forward-looking information. The Company undertakes noobligation to update these forward-looking statements, other than asrequired by applicable law.
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