Endava, a technology services company, has teamed up with Finexos, an AI-powered credit risk and analytics platform, in order to enhance credit decision-making for banks and lenders.
The partnership leverages Endavaâs engineering expertise and Finexosâs AI capabilities to support financial institutions in providing responsible lending.
The Finexos software enriches data analysis, speeds up decision-making, and reduces costs, all while ensuring data security. This alliance aligns with Endavaâs commitment to financial inclusion and innovation in the banking sector.
Legacy metrics exclude many borrowers from accessing affordable financial services and expose lenders to unnecessarily high risk as the trend for defaulting borrowers increases. Finexos software, together with Endavaâs industry knowledge, aims to increase accessibility to a broader range of customers while providing a much more accurate assessment of borrower risk, resulting in better outcomes for lenders.
âThe addition of Finexos strengthens Endavaâs banking ecosystem with new and existing AI-based software and also brings to our clients new tools that fuel growth and react to new and future regulatory requirements,â says Lewis Brown, Endavaâs head of alliances and partnerships.
While, Matthew Williamson, SVP and industry principal at Endava, added: âThis relationship authentically aligns with our core values, using technology and democratising access to financial instruments. Giving individuals and communities the ability to access fair, consistent next-gen real-time credit scoring. Empowering economic growth and stimulus.â
According to Darren Smith, executive director of Finexos, Endavaâs decision to plump for Finexosâ advanced AI data science SaaS platform for its customers will âenable it to provide more inclusive, Consumer-Duty-compliant lending decisions while also reducing risk in their lending portfoliosâ.
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