TrustScience and Inovatec Systems Corp. finalized a partnership this week.
The provider of artificial intelligence-fueled credit scoring and the loan operating system (LOS) provider announced they will partner to release a fully automated lending platform that can enable end-to-end loan management across the entire credit spectrum.
The company said finance companies can be up and running on a fully customized LOS and an AI-powered loan underwriting model within weeks, “not months or years.”
A BETA version of the integration has been underway for several months, and a general release is expected in June.
Mark Eleoff is chief executive officer of Eden Park and a customer of both Trust Science and Inovatec Systems.
“Both Trust Science and Inovatec Systems have proven themselves to be innovative, value-added and very customer centric in working with us to improve our credit decisions,” Eleoff said.
Trust Science CEO Evan Chrapko elaborated about his company’s relationship with Inovatec System.
“This partnership gives lenders the ability to accurately score and lend to an additional 64 million consumers in the U.S. alone, with unprecedented accuracy and speed,” Chrapko said. “The end-to-end, customizable nature of Inovatec Systems’ LOS makes it a perfect partner for Trust Science and our API-based scoring solution.”
Inovatec Systems vice president of sales and marketing Bryan Smith added, “With this partnership, Inovatec Systems will now be able to automate the powerful AI tools at Trust Science alongside traditional credit scoring and risk measurements. Our lenders will have instant access to the Trust Science Six Score to determine creditworthiness based on alternative, uncorrelated data, generating simple and powerful results for a more complete risk assessment of the individual.
“The Trust Science tools will be integrated into Compass Asset Finance (CAF) for credit and funding, driving more innovation and thinking differently,” Smith said.