Digital Matrix Systems, Inc. (DMS), a leading risk management solution provider, announced today that Inovatec Systems (Inovatec) has selected the company’s Data Access Point® connectivity solution to access credit and alternative data sources. In addition, Inovatec will leverage DMS Summary Attributes® in support of their clients that wish to develop custom models. Vancouver-based Inovatec provides cloud-based digital lending solutions to lenders throughout North America and across the globe that drive workflow efficiencies, increase revenue, and reduce operating costs.
Inovatec’s cloud-based end-to-end lending platform allows lenders to target the right deals for borrowers. Its recognized LOS supports self-configurable credit decisioning, tolerance limits and risk parameters with full auto decisioning capabilities. Inovatec will leverage Data Access Point®, a cutting-edge connectivity hub from DMS that links clients to all three credit bureaus and over 20 alternative data source providers with a single inquiry and delivers the data within a standard XML format. Credit reports are delivered via the easy-to-read DMS Credit Report format, which reduces errors and improves readability of critical credit information. Connectivity via DMS will reduce Inovatec’s need to dedicate resource time and expense to keep up with ongoing credit bureau changes. As business needs evolve, Inovatec will be able to add additional data sources quickly and cost-effectively for their clients.
In addition to data access, Inovatec will leverage the tri-bureau DMS Summary Attributes® for its clients. This set of standardized and normalized attributes consolidates credit information for easier analysis by application and decisioning platforms. This provides consistency over multiple bureaus and bureau versions without compromising processing speed.
“Our integration to Digital Matrix Systems will allow us to deliver more capabilities to our clients, which in turn will help them improve their ability to score and decision loan applications more appropriately,” said Vladimir Kovacevic, Founder & CEO of Inovatec. “We are looking forward to working with the DMS team and identify new features and tools that will exceed the expectations of our clients.”
“We are excited to be working with Inovatec as they continue to expand on their success in Canada, the United States and other global markets,” said Carson York, Senior Vice President for Digital Matrix Systems. “Our companies share a mutual commitment to innovation and customer service that help drive the success of our clients. We look forward to helping Inovatec ensure that their client base has access to the best available data to realize successful outcomes.”
About Inovatec Systems Corporation
Inovatec Systems Corporation is obsessed with improving the outcomes for Lenders in the USA and Canada. As an industry-leading provider of cloud-based lending solutions, Inovatec’s platform disrupts standard practice with Success Based Pricing. Success Based Pricing means lenders pay only for the transactions they book – a first for the industry.
For more information, please visit https://www.inovatec.com/.
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.