Inverite Insights Inc. (“Inverite” or the “Company”) (CSE: INVR) (OTC: INVRF) (FSE: 2V0), a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce that it achieved new monthly record-breaking transaction revenue for August 2024 while reducing operating costs.
During the month of August, Inverite transaction revenue set a new monthly record in revenue from the previous record-setting month in May of this year while reducing costs by 11%. This achievement brings Inverite’s total unique Canadian customer profile threshold in excess of five million and continues to demonstrate industry acceptance and confidence in our platform and products.
“Given the challenging financial times of high interest rates and inflation, Inverite continues to contribute growth in the Company’s top-line revenue while reducing operating costs through technology innovation. Inverite’s service offerings continue to provide increased value for alternative lenders in the largest sector of the credit economy, the non-prime and underbanked consumer. Our goal as a company is hyper-focused on achieving cash-flow breakeven as quickly as possible,” said Karim Nanji, CEO of Inverite.
Our solutions for alternative lenders continue to be well received, as our platform prioritizes both the efficiency and effectiveness of the data analytics process in near real-time while maintaining the highest adherence to regulatory standards.
About Inverite Insights Inc.
Inverite Insights Inc. (“Inverite”) (CSE: INVR) (OTC: INVRF) (FSE: 2V0) is a Vancouver-based, AI-driven software provider specializing in real-time financial data. With a vast database of over nine billion financial data points from more than four and a half million unique Canadian consumers’ transactions, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management, and compliance.
For further information about Inverite Insights, please visit: inverite.com
ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104
Email: ir@inverite.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of the proposed transaction nor approved or disapproved the contents of this press release.
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Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements are based on assumptions, none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.
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