Wednesday, June 19, 2024

Endava Announces Partnership With Finexos

Endava, a leading technology services company combining world-class engineering, industry expertise and a people-centric mindset, today announces its partnership with Finexos, an AI-powered credit risk and analytics platform.

The state-of-the art Finexos credit risk engine enhances credit decisioning to significantly increase the accuracy of the suitability and affordability calculation process for banks and lenders. The unique methodology enables larger volumes of borrowers to access affordable credit while reducing non-performing loans, improving capital allocation and substantially reducing the risk of default.

Through world-class engineering and 20+ years of industry expertise, we help financial institutions meet these demands and position their products and services at the forefront of innovation. This partnership with Finexos enables Endava to help financial institutions better support their customers with access to responsible lending through the use of Finexos AI credit decisioning software.

Legacy metrics result in many borrowers being excluded from accessing affordable financial services. Lenders are also exposed to unnecessarily high risk as the trend for defaulting borrowers increases. Finexos software, together with Endava’s industry knowledge, aims to increase accessibility to a broader range of customers while providing a much more accurate assessment of borrower risk, resulting in better outcomes for lenders.

The cost-effective data science SaaS platform can be easily adopted to enrich data analysis, with its advanced automation dramatically speeding up decisions for borrowers and significantly reducing costs for lenders. It has no geographical constraints, works within institutions’ firewalls and provides full data security as no PII (personally identifiable information) is accepted or required.

Lewis Brown, Endava’s Head of Alliances and Partnerships, said: “The addition of Finexos strengthens Endava’s banking ecosystem with new and existing AI-based software and also brings to our clients new tools that fuel growth and react to new and future regulatory requirements.”

Matthew Williamson, SVP & Industry Principal at Endava, mentioned: “At Endava, we are delighted to announce our partnership with Finexos, demonstrating our ongoing commitment to financial inclusion. This relationship authentically aligns with our core values, using technology and democratising access to financial instruments. Giving individuals and communities the ability to access fair, consistent next-gen real-time credit scoring. Empowering economic growth and stimulus.”

Darren Smith, Executive Director of Finexos, commented: “I am delighted that Endava has chosen Finexos to provide their customers with our advanced AI data science SaaS platform, which will enable them to provide more inclusive, Consumer-Duty-compliant lending decisions whilst also reducing risk in their lending portfolios.”

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