Trust Science, Inovatec to Launch Alternative-Credit Platform
Trust Science and Inovatec Systems have partnered to release what is billed as the world’s first end-to-end decisioning platform powered by alternative credit scores, including 64 million unbanked and underbanked U.S. car buyers.
Inovatec’s network of auto finance sources will have access to Trust Science’s proprietary alternative-credit scoring model with the launch of a new, shared decisioning platform.
Photo courtesy Trust Science
PALO ALTO, Calif. — AI-powered credit scoring solutions provider Trust Science Inc. and loan operating system provider Inovatec Systems Corp. announced plans to jointly release a fully automated lending platform that will enable end-to-end loan management across the entire credit spectrum.
“This partnership gives lenders the ability to accurately score and lend to an additional 64 million consumers in the U.S. alone, with unprecedented accuracy and speed,” said Trust Science CEO Evan Chrapko. “The end-to-end, customizable nature of Inovatec Systems’ LOS makes it a perfect partner for Trust Science and our API-based scoring solution.”
Auto finance sources can be up and running on a fully customized LOS and an AI-powered loan underwriting model within weeks, not months — or years — executives said.
“With this partnership, Inovatec Systems will now be able to automate the powerful AI tools at Trust Science alongside traditional credit scoring and risk measurements,” said Bryan Smith, vice president of sales and marketing at Inovatec, noting his company’s network of finance sources will benefit from access to Trust Science’s proprietary alternative-credit scoring mode. “The Trust Science tools will be integrated into our Compass Asset Finance for credit and funding, driving more innovation and thinking differently.”
A beta version of the integration has been underway for several months and the general release is expected sometime this month, according to the announcement.
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