Business
Inverite Driving New Revenue Streams and Enhanced Flexibility for Lenders with Microcheck
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) ("Inverite" or the "Company"), a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce a significant update to one of its platform products, Microcheck offering key benefits that will enhance value to both the Inverite and its lender partners. Microcheck is Inverite
About this update from Inverite Insights Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) ("Inverite" or the "Company"), a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce a significant update to one of its platform products, Microcheck offering key benefits that will enhance value to both the Inverite and its lender partners.","length":497,"tagName":"p"},{"type":"text","content":"Microcheck is Inverite's advanced alternative database that consolidates non-registered loan information from individuals into a centralized, shared database. This unique Canadian offering enables lenders to access and share insights into borrowers' creditworthiness, when traditional credit bureau data is void or insufficient as most if not all alternative lenders report to the Canadian credit bureaus.This significant update decouples Microcheck from Instant Bank Verification (IBV), meaning that Microcheck now operates independently, without requiring a successful bank verification with the consumer beforehand. This update creates new revenue opportunities, increases transaction volumes, while providing lenders with improved flexibility, cost efficiency, and streamlined decision-making.Furthermore, by enabling Microcheck as a standalone API product, Inverite strengthens its product offering and enhances its position as a leading provider of end-to-end risk and verification solutions tailored for Canadian alternative lenders. It also solidifies Inverite's commitment to providing flexible, modular solutions that can easily integrate into the existing tech stacks of its financial services clients, reinforcing long-term partnerships.For lenders, the update to Microcheck offers greater control and flexibility since lenders are no longer dependent on the completion of their consumer's IBV to gain valuable insights. Lenders can now initiate Microcheck transactions at any point in their adjudication process. This enhanced flexibility allows lenders to use Microcheck to assess risk before, during, or after the bank verification process, enabling them to make more informed and quicker decisions regardless of IBV success.In addition, the ability to automate and batch-process Microc...