Marble Financial Inc (CSE:MRBL) (OTCMKTS:MRBLF) (FRA:2V0) said its subsidiary Inverite Verification Inc has entered into a data verification agreement with one of Canada’s largest alternative PowerSports financing companies.
PowerSports is engaged in financing ATV’s, snowmobiles, motorcycles, boats and personal watercrafts, recreational vehicles and travel trailers.
Marble’s Inverite is a Canadian open banking and consumer-directed financial data provider for the financial services industry.
READ: Marble Financial says subsidiary Inverite Verification completes compliance with SOC 2 Type 1 Standards
The agreement expands its financial data offering with PowerSports, which will connect millions of Canadians to over 275 national financial institutions, according to a statement from Marble.
By integrating Inverite into its online lending origination solution, PowerSports will be able to obtain the fastest and most secure digital identity verification (KYC) information – providing insight into the borrower’s transaction history and real-time banking verification in order to offer the best customer experience and financing solution available.
The deal comes at a time when Canadians are becoming more interested in localized recreational travel and power sport activities due to pandemic-related restrictions on travel.
According to the Canadian Recreational Vehicle Association, RV shipments alone are expected to eclipse 500,000 units in 2021.
Marble told investors that the increased demand means that businesses in alternative financing sector need to provide a more “advanced, online, and seamless” customer experience when offering financing.
And product offering that has already helped finance thousands of Canadians this year.
“Partnering with large financing companies that process thousands of applicants monthly shows a fantastic use case for Inverite,” said Lloyd Evetts, Inverite’s vice president of business development. “Inverite’s level of automation, speed and security will innovate their technical processes while also provided an improved customer experience that is second to none.”
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Story by ProactiveInvestors
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