-The agreement enables Inverite to enter Canada’s rent-to-own industry-
Marble Financial Inc., an AI-driven financial technology company, is pleased to announce that its wholly-owned subsidiary, Inverite Verification Inc. (“Inverite”), has entered into a data verification agreement with Home Owner Soon Financial Inc. (“HOS Financial”), the largest rent-to-own company in Canada.
Since its establishment in 2005, HOS Financial offers lease purchase or rent-to-own programs for families looking to secure homeownership and has initiated more than 1100 projects. HOS Financial has captured a combined project value of $402 million and currently generates over 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 (APIs). As a result of Inverite’s connectivity to over 280 financial organizations, HOS Financial will be able to gain access to a borrower’s financial data within seconds, resulting in a faster decision-making process to determine the creditworthiness of its borrowers.
Given HOS Financial’s large customer base, Inverite will be able to gain a larger market presence within the Canadian rent-to-own industry. In addition, Inverite will receive a verification fee for every transaction completed through HOS Financial.
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“With housing prices constantly increasing, rent-to-own options are becoming a popular alternative for Canadians looking to purchase a home,” said Lloyd Evetts, VP of Business Development with Inverite. “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.”
HOS Financial will be fully operational with the Inverite platform in the next 30 days.
The Company would also like to announce the resignation of Michael Feloa as an independent director due to his time demands in his other business interests. The Board would like to thank Mr. Feola for his tenure on the board and wish him the best in his future endeavours.
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