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Marble Financial’s subsidiary, Inverite Verification, enters into a data verification agreement with Home Owner Soon Financial Inc., Canada’s largest rent-to-own company

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Under the agreement, Inverite will provide its state-of-the-art banking verification solutions to HOS Financial via application programming interfaces, better knowns as APIs, receiving a verification fee for every transaction completed through HOS Financial.

Additional Information:

Company: Marble Financial Inc.
Website: http://www.mymarble.ca
Stock Symbol: CSE: MRBL
Date Published: Oct 28, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Marble Financial Inc., an AI-driven financial technology company, has, through its wholly-owned subsidiary, Inverite Verification Inc., entered into a data verification agreement with Home Owner Soon Financial Inc., Canada’s largest rent-to-own company.

Established in 2005, Home Owner Soon Financial, or HOS Financial, (www.HomeOwnerSoon.com) offers lease purchase, or rent-to-own programs, for families looking to secure homeownership and has initiated more than 1100 projects.

Their program, designed to help families achieve their goal of Home Ownership when it is not available to them through traditional means, is suited to families who have a bruised credit profile, are self-employed, are light on down payment, or just need more time to become bank ready.

HOS Financial has captured a combined project value of $402 million and currently generates more than 5000 transactions per month.

Under the agreement, Inverite will provide its state-of-the-art banking verification solutions to HOS Financial via application programming interfaces, better knowns as APIs, receiving a verification fee for every transaction completed through HOS Financial.

Management anticipates the platform will be fully operational within 30 days.

Inverite Verification Inc. (www.inverite.com), a leading Canadian open banking and consumer-directed finance provider, offers innovative, secure and cost-effective banking verification solutions to the financial services industry for income verification, credit decisioning, fraud reduction, and KYC/AML purposes.

With support for over 285 Canadian financial institutions, Inverite is the data provider of choice for many of Canada’s leading lenders, Fintechs and Paytechs.

As a result of Inverite’s connectivity with financial organizations, HOS Financial gains access to a borrower’s financial data within seconds, resulting in a faster decision-making process to determine the creditworthiness of its borrowers, while Inverite gains a larger market presence within the Canadian rent-to-own industry, given HOS Financial’s large customer base.

Lloyd Evetts, Inverite’s VP of Business Development, stated: “With housing prices constantly increasing, rent-to-own options are becoming a popular alternative for Canadians looking to purchase a home. As an established lease purchase company, HOS Financial has provided financial solutions to numerous Canadian families that intend to secure affordable housing over the last 16 years. That said, the integration of our platform will provide them with the ability to almost verify a borrower’s transaction history instantly, ensuring efficient operations. Overall, this agreement will allow us to expand into a new market where there is a need for our advanced banking verification solutions.”

Since 2016, Marble Financial’s proprietary MyMarble platform has been utilizing the power of machine learning, data science, and artificial intelligence, to leverage its proven data-driven strategies to empower thousands of marginalized consumers to a positive financial future.

The shares are trading at $0.135.

For more information, please visit the company’s website www.mymarble.ca, contact Mike Marrandino, Executive Chairman, at 855-661-2390 ext. 104, or by email ir@marblefinancial.ca.

I’m Cassandra Bolinski for Investmentpitch Media