Founded by a team with deep expertise in financial services and technology, 8Twelve has developed a proprietary cloud platform, INFIN8, that is customisable for a variety of financial products and workflows and is currently being used by the company to originate and underwrite mortgages, for the traditional bank, non-bank, and private lending channels more efficiently. According to the terms of the agreement, 8Twelve will be licencing Marble's B2B solutions, namely the Marble Connect API and Inverite Open Banking verification software. As a result, 8Twelve will be able to underwrite borrowers more accurately by quickly verifying their banking information.
Marble anticipates gaining approximately 2,000 new MyMarble members along with approximately 100 new auto-enrolled premium subscriptions from 8Twelve's monthly applications and funded mortgages once launched. Given that 8Twelve receives thousands of mortgage applications per month, Marble also expects higher Inverite transactions once 8Twelve launches its B2B solutions on its platform, which is anticipated this quarter.
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