Endava forms partnership with Finexos

Monday 20 May 2024 14:31 CET | News

Technology services company Endava has entered a collaboration with Finexos to solidify its banking ecosystem with new and existing AI-enabled software. 

By joining forces, Endava integrates Finexos’ capabilities to strengthen its banking ecosystem with AI-based software and provide its clients with additional tools that support their growth and react to new and future regulatory requirements. Through its credit risk engine, Finexos works towards improving credit decisioning to increase the accuracy of the suitability and affordability calculations for banks and lenders. The methodology is set to allow larger volumes of borrowers to access credit whilst reducing non-performing loans, enhancing capital allocation, and minimising the risk of default.

Technology services company Endava has entered a collaboration with Finexos to solidify its banking ecosystem with new and existing AI-enabled software.

What are Endava and Finexos’ plans?

Through its solutions Endava focuses on supporting financial institutions to meet the demands of the industry as well as their customers, the collaboration is set to allow the company to help them better assist their users with access to lending services. This is achieved by leveraging Finexos AI credit decisioning software. The company’s solution, paired with Endava’s industry knowledge, intends to increase accessibility to a broader range of customers while conducting a more accurate assessment of borrower risk. Additionally, the SaaS platform can be implemented to enrich data analysis, with its advanced automation focusing on accelerating the decision-making process for borrowers and minimising costs for lenders. Also, the platform functions globally within institutions’ firewalls and offers full data security as no personally identifiable information (PII) is accepted or required.

Furthermore, representatives from Endava underlined that the collaboration with Finexos supports their company’s commitment to financial inclusion, with the partnership aligning with its values. According to Finexos’ officials, the current move allows Endava to provide its customers with the company’s advanced AI data science SaaS platform, which enables them to offer more inclusive, Consumer-Duty-compliant lending decisions while minimising risk in their lending operations.

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Keywords: partnership, credit scoring, credit access, payment methods, SaaS
Categories: Payments & Commerce
Companies: Endava, Finexos
Countries: World
This article is part of category

Payments & Commerce




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