Fintech
Endava announces the partnership with Finexos
Endavaa leading technology services company that combines world-class engineering, industry expertise and a people-first mindset, today announces its partnership with Finexosan AI-powered credit risk and analytics platform.
The cutting-edge Finexos credit risk engine improves credit decisions to significantly increase the accuracy of the eligibility and affordability calculation process for banks and lenders. The unique methodology allows larger volumes of borrowers to access affordable credit, while reducing non-performing loans, improving capital allocation and substantially reducing default risk.
Through world-class engineering and more than 20 years of industry experience, we help financial institutions meet these needs and position their products and services at the cutting edge of innovation. This partnership with Finexos allows Endava to help financial institutions better support their customers in accessing responsible lending through the use of Finexos’ AI credit decisioning software.
Traditional metrics mean many borrowers are excluded from accessing affordable financial services. Lenders are also exposed to unnecessarily high risks as the trend of defaulting borrowers increases. Finexos software, together with Endava’s industry knowledge, aims to increase accessibility to a wider range of customers while providing a much more accurate assessment of borrower risk, resulting in better outcomes for lenders.
The cost-effective data science SaaS platform can be easily adopted to enrich data analytics, with its advanced automation significantly accelerating decisions for borrowers and significantly reducing costs for lenders. It has no geographic constraints, works within institutions’ firewalls, and provides maximum data security as no PII (personally identifiable information) is accepted or requested.
Lewis Brown, Head of Alliances and Partnerships at Endava, said: “The addition of Finexos strengthens Endava’s banking ecosystem with new and existing AI-powered software and also provides our customers with new tools that fuel growth and respond to new and future regulatory requirements.”
Matthew Williamson, SVP and Industry Principal at Endava, said: “At Endava we are pleased to announce our partnership with Finexos, demonstrating our ongoing commitment to financial inclusion. This relationship is truly aligned with our core values, using technology and democratizing access to financial tools. Giving individuals and communities the ability to access next-generation credit scoring in real time, fair and consistent. Strengthen economic growth and stimulus.”
Darren Smith, executive director of Finexos, commented: “I am pleased that Endava has chosen Finexos to provide its customers with our advanced AI-powered data science SaaS platform, which will enable them to make more inclusive and consumer-compliant lending decisions, while reducing the risk in their loan portfolios.”