Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - 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 subsidiary, Inverite Verification Inc. ("Inverite") has been launched by five new clients 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 multiple 4,000 daily transactions over the past week. At this pace, we expect to exceed our current milestone of 80,000 transaction 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 credit worthiness.
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. This growth in consumer data collected by Marble's leading proprietary MyMarble platform enables its AI and Machine Learning 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.
In August 2021, the Company previously announced that Inverite exceeded 80,000 transactions per month, recording a 42% YoY increase in the growth of its Canadian consumer data. Given the record transaction volumes in recent months and the recent one-day transaction record, Marble will be able to advance its Open Banking strategy in helping underbanked customers reach their financial goals.
"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 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."
"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," said Lloyd Evetts, Director of Business Development with Inverite. "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."
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 Pink: 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 Connect, Inverite, Score-Up, Fast Track, Maestro 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 Financial, please visit: mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
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Caution Regarding Forward-Looking Information
This release contains forward-looking statements. 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, or its subsidiaries 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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