Why #openbanking? Because it will ultimately deliver more competition, improved financial services, products and tools, and a more innovative marketplace through which end users can better manage their financial wellbeing. As investment and innovation in platforms and programs increase, consumers have the opportunity to enhance their financial well-being. Additionally, increased competition and transparency can lead to more competitively priced products. Learn more: https://lnkd.in/gpMbm8vd
Inverite Insights Inc.
Financial Services
Vancouver, BC 1,480 followers
Powerful data-driven financial tools that deliver tailored insights that bridge gaps for the underserved market.
About us
Inverite Insights Inc. CSE[INVR/IVER/II] OTC: MRBLF; FSE:2V0): Inverite is a leading provider of software-as-a-service (SaaS) and risk-model-as-a-service (RMaaS) solutions that empower businesses to acquire and use real-time financial data to better transact with consumers. Utilizing Inverite’s proprietary and proven artificial intelligence data-driven technology platforms, Inverite, businesses are empowered in real-time, access to a 360 financial profile that includes credit and banking data. Inverite leverages machine learning, artificial intelligence, predictive financial recommendations, risk scores and open-banking strategies to put the power of financial data into the hands of businesses and consumers, promoting more robust relationships and higher intent toward future engagements.
- Website
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https://inveriteinsights.com
External link for Inverite Insights Inc.
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Vancouver, BC
- Type
- Public Company
- Founded
- 2015
- Specialties
- Consumer Debt, Consumer Proposal, Fintech Lending, Debt Servicing, Credit Rebuilding, Credit Score, and Under Bank Lending
Locations
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Primary
1166 Alberni St
2012
Vancouver, BC V6E 3Z3, CA
Employees at Inverite Insights Inc.
Updates
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Excited to share that we will be attending the CLA Bankers Summit in Toronto this week. If you're attending, don't miss the chance to connect and chat!
I'll be attending the Canadian Lenders Association Bankers Summit in Toronto this week! 📍 If you're going to be there, I'd love to connect and chat about all things Fintech 💡
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📉 Improving Financial Insights: Transaction categorization and Data Enrichment for understanding stress and opportunity. In this issue: Let's discuss how data enrichment and transaction categorization can lead to better financial decisioning by providing clear, contextual insights into a customer's financial patterns.
Data Enrichment and Transaction Categorization
Inverite Insights Inc. on LinkedIn
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#OpenBanking will open a whole new world for consumers by letting consumers' financial data safely & letting companies “access customer data from competitors — encouraging them to come up with new products & services.” - cbc https://lnkd.in/gE9tA7Fy #consumerdrivenbanking
Open banking could spur competition, but fintechs say Canada's moving too slowly | CBC News
cbc.ca
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We are excited to announce the addition of Philip Goodeve to its Board of Directors, as Vice Chairman. Mr. Goodeve is the prior Chairman of Integral Securities, a leading mid-market investment bank, which is very active in raising capital to emerging growth companies across North America. He has raised over $30 Billion in capital, done 100+ acquisitions, 15+ turnarounds and 10+ IPOs. He has had senior board and operating roles in various public and private companies for leading Venture capital and Private Equity funds, been an advisory board member for three funds and is an active venture capital investor personally. He has been a board member of over 26 companies, both public and private, on three continents. Mr. Goodeve is and active advisor and angel investor in international FinTechs. He was Chairman of a leading US publicly listed FinTech, which he successfully sold to the London Stock Exchange. Read the full article here: https://lnkd.in/g9cySPDs #inveriteinsights #fintechnews #fintech
April 30, 2024 – Inverite Adds Highly Accomplished International Fintech Executive Philip Goodeve, to its Board of Directors, as Vice Chairman.
https://inveriteinsights.com
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We are excited to announce that our Inverite Verifications platform continues its growth trajectory, setting a new quarterly transaction record for Q1-2024. Revenue based transactions increased in Q1 2024 as compared to Q1 2023 by nearly 29%. As well revenue based transactions increased in Q1 2024 as compared to Q4 2023 by over 10%. Karim Nanji, CEO states “growth in the alternative finance remains strong as we have experienced our best quarter since acquiring our open banking platform in April 2021. With the proposed consumer directed finance (open banking) legislation introduced in the Federal budget last week, we are extremely bullish on the products and platform we offer lenders in their loan adjudication process with consumers.” Karim Nanji continues “Our partnership with FinCuro Solutions (see News Release March 28, 2024) will enable Inverite to further capitalize on the “low hanging fruit” in growing our revenue by improving efficiencies in converting data requests into revenue transactions.We clearly see a path towards profitably in the near future as the Company remains laser focused on revenue growth and cost efficiencies.” Read the full article here: https://lnkd.in/eeXfu3C7
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TodayVille (Canada), "Upcoming Introduction of Open Banking in Canada," March 31, 2024: The Canadian government is advancing towards the introduction of #openbanking, a framework designed to allow customers to securely share their financial information with fintech companies without the need to disclose their online banking credentials. Instead, banks will directly transfer the necessary data to the fintechs through a secure online connection. This approach is seen as an alternative to "screen scraping," where a third party accesses a bank account using the customer's login details, posing a significant security risk. Open banking, which has been adopted by 68 countries, aims to facilitate a safer and more innovative financial services environment. While the U.S. laid the legislative groundwork for open banking in 2010, it wasn't until a recent proposal by the Consumer Financial Protection Bureau that steps towards implementation began. Despite the optimistic view on open banking, the experience has shown that it might overstate its benefits without fully negating fraud risks, merely altering the landscape of potential security threats. Read more: https://lnkd.in/gCDK4nCd As we stand on the brink of this innovation, do you think open banking will eventually redefine financial privacy and security, or are we simply shifting the risks to new territories? #openbankingincanada #fintech #screenscraping
Canada is preparing to launch ‘open banking.’ Here’s what that means
https://www.todayville.com
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🌱 Nurturing Financial Inclusion: Explore the Impact of Alternative Data In this issue: Traditional credit scoring models often leave behind individuals with unconventional financial backgrounds, hindering their access to credit. Discover how alternative data is reshaping this, opening doors for the underbanked and small businesses. #alternativedata #data #financialinclusion
Alternative Data and Financial Inclusion
Inverite Insights Inc. on LinkedIn
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Inverite is pleased to announce its partnership with Digital Pipeline, a web-based Customer Relationship Management (CRM) and Loan Management System (LMS) software provider to the short term and payday loan industry. Inverite plans to integrate ID Verification and Risk Scoring modules into Digital Pipeline's system by Q2 2024, enhancing loan processing for lenders. This collaboration aims to improve efficiency and security in loan operations, providing clients with seamless verification processes and expedited approvals. Read the full news release here: https://lnkd.in/gaXZ6UeF #inveriteinsights #partnership #crmstrategy #lms #loanmanagement
March 5, 2024 – Inverite Enters into Strategic Partnership with Digital Pipeline
https://inveriteinsights.com
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We are pleased to share the latest financial results for the twelve-month and 4th quarter ending December 31, 2023. It was a year of challenges, growth, and learning. During the twelve months, we saw continued revenue growth with our opening banking platform, along with cost reductions and efficiencies in operating and financing expenses. Read the full report here: https://lnkd.in/gKZWehAp #inveriteinsights #annualreport #verification #openbanking
February 26, 2024 – Inverite Announces Results for Twelve Month and 4th Quarter Ending December 31, 2023
https://inveriteinsights.com