Marble’s Inverite Signs Open Banking Software License Agreement with MoneyMate

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Vancouver, British Columbia–(Newsfile Corp. – March 15, 2022) – Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0) (“Marble” or the “Company”), an IA Financial, is pleased to announce that its wholly owned subsidiary, Inverite Verification Inc. (“Inverite”), has entered into an open banking software license agreement with Money Mate Limited (“MoneyMate”), a Canadian financial services software solution provider.

MoneyMate is very proud of its Canadian heritage and ownership, 18 years of history in the lending industry and is one of the founding directors of the Canadian Association of Independent Payday Lenders. They provide cost-effective software solutions designed for Canadian alternative lending operators and currently serve over 25 of these customers with a total of 75 offices across Canada. With a large user base, MoneyMate needs advanced fintech solutions to handle high transaction volumes. As a result, MoneyMate has licensed Inverite’s open banking software verification solutions, which provide the broadest connectivity to access points at 286 financial institutions in Canada. With an average processing time of less than a minute, Inverite’s solutions will enhance the robustness of MoneyMate’s existing products by enabling them to process highly granular financial information in near real time.

“We are delighted to license our unique open banking solutions to MoneyMate, a leading provider of lending software solutions with a large customer base,” said Lloyd Evetts, Director of Business Development at Inverite. “Physical alternative lenders remain a popular option for both underbanked and unbanked populations, and integrating our technology solutions into the MoneyMate platform allows us to extend our reach to this growing demographic. We are looking forward to working with MoneyMate as they continue to evolve within the Canadian alternative lending space.

“MoneyMate is very pleased to have integrated the services of Inverite and to have obtained the underwriting arbitration that their software provides,” said James Reid, founder of MoneyMate. “We are seeing our industry rapidly developing an online presence and having the additional banking information provided by Inverite brings us one step closer to being able to help our online users not only with detailed banking information, but also a risk analysis Banking details and historical performance are critical factors in our lending metrics and Inverite meets that need.We look forward to a long and rewarding relationship.

Mr. Reid added: “MoneyMate’s initial mandate was to provide sophisticated software to small physical operators with one or more stores in the area of ​​alternative lending. As mentioned earlier, we are now entering the online lending model, where the number of loans being processed is higher than in physical stores. That said, MoneyMate’s physical customers have granted just over 14,000 loans in the last 12 months.

Currently, Marble’s Inverite open banking software has signed 32 customer license agreements since it was acquired by Marble in April 2021.

About Money Mate Limited: Since 2003, MoneyMate was one of the first Canadian companies to offer software to independent Canadian physical payday loan businesses. MoneyMate’s mission is to empower its customers by providing them with a compliant and flexible web platform that can be streamlined to suit their individual needs.

For more information about MoneyMate, please visit: http://www.moneymate.ca

About Inverite Verification Inc.., Inverite, a Canadian provider of open banking and consumer-focused finance, offers bank verification solutions to the financial services industry for income verification, credit adjudication, fraud reduction and knowing your customer/anti-money laundering. Inverite operates a cloud-based SaaS platform so its technology solutions can be integrated with customer systems. Inverite currently offers three SaaS services to its customers, namely Bank Verification, Identity Verification, and Risk Scoring. Inverite can access data from 286 Canadian financial institutions and offers multiple application programming interfaces to access up to a year of users’ financial data in seconds for its bank verification service, and has plug-ins available for the most popular e-commerce platforms, including WooCommerce and Shopify.

For more information about Inverite, please visit: https://Inverite.com

About Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0): Marble’s Property MyMarble The platform uses the power of machine learning, data science and artificial intelligence, leveraging its proven data-driven strategies through technology solutions Connect, Inverite, MyMarble, Fast-Track, Boost and Learn to engage and navigate a clear path to financial wellness and a meaningful credit score. Since 2016, Marble has been proud to have empowered thousands of marginalized consumers to have a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our exclusive products on the MyMarble Platform.

For more information about marble, please visit: mymarble.ca

Mike Marrandino, Executive Chairman
Phone. :(855) 661-2390 ext. 104 Email: [email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED NOR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words beliefs, expectations, anticipations, estimates, intentions, plans or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of management as of the date they are made and are subject to a variety of risks and uncertainties as well as other factors that could cause events or actual results differ materially from those projected in the forward-looking statements. statements. Except for historical facts, statements in this press release, as well as oral or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this press release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116848

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