Vancouver, BC. April 27, 2023 – Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company, is pleased to announce that its wholly owned subsidiary, Inverite Verification Inc., a leading provider of instant online verification solutions for lenders, achieved a record-breaking month in transactions for March 2023.
During the month of March, Inverite Verification processed a total of 114,669 transactions, representing a significant 21% increase in volume from the previous year. This achievement brings Inverite’s total Canadian customer profile thresholds past 2.7 million. This milestone demonstrates the company’s commitment to delivering fast, reliable and secure verification solutions to its clients across various industries.
“We are thrilled to have achieved such a significant milestone in March,” said Karim Nanji, CEO of Marble Financial. “Our team has worked tirelessly to develop and improve our verification solutions to meet the evolving needs of our clients. This record-breaking month is a testament to the hard work and dedication of our team.”
Marble’s CTO & COO, Jim Chan also highlighted the company’s commitment to innovation and its focus on providing its clients with cutting-edge technology solutions. “We are constantly looking for ways to improve our technology and enhance our services, so that we can help our clients stay ahead of the curve in an ever-changing regulatory landscape,” he said.
By offering cutting-edge verification solutions, Inverite enables alternative lenders to assess loan applicants with speed and precision, thanks to its real-time online identity verification and bank account validation services. This allows for quick and informed approval decision-making, all within a matter of minutes. The company’s user-friendly platform is designed to streamline the verification process, allowing businesses to approve and onboard customers seamlessly while maintaining compliance with regulatory requirements.
Inverite’s Confidence Score is a powerful tool that is calculated by analyzing a customer’s bank account transactions, cashflow, payment history and other financial factors to predict the likelihood the customer is to make a payment or default. This score is then normalized against short-term loan performance to give alternative lenders an accurate assessment of the borrower’s likelihood to pay. This Confidence Score can be extremely useful for lending companies that offer short term loans, as it allows them to segment their portfolios and identify which borrowers are least likely to default on their loans. This information can be used to expedite the loan adjudication process and help lenders make more informed lending decisions; ultimately, resulting in lower default rates and increased profitability for the lending company.
Inverite has been steadily growing its client base since its inception, and the company’s most recent achievement is a clear indication of its continued growth trajectory. The company is confident that it will continue to deliver innovative and reliable services to its clients and looks forward to achieving even greater success in the future.
About Inverite Verification Inc., Inverite, 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 Confidence Scoring. Inverite can access data from 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: https://Inverite.com
About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0): Marble is a leading provider of software-as-a-service (SaaS) solutions that empower businesses to acquire and use real -time financial data to better transact with consumers. Along with enabling smarter marketing ROI for partners seeking increased conversion rates to those consumers that require further monitoring, predictive financial recommendations, and guidance to rehabilitate them to transact in the future. Utilizing Marble’s proprietary and proven artificial intelligence data-driven technology platforms, Inverite, Accumulate.ai and MyMarble, businesses and consumers are empowered in real-time, access to a 360 financial profile that includes credit and banking data. Marble 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.
For further information about Marble Financial, 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 subsidiary, Inverite and its transactions. 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.