RiskFactor Solutions Partners with Future Route
Future Route is a disruptive fintech company in the business of financial data transmission. Its product, Validis, is a web-based tool that acquires, transmits and analyses large amounts of complex data in preparation for the financial review process, saving time and money while enhancing the end clients’ experience.
The agreement means that RiskFactor will be offering the Validis extractor technology alongside its risk management platform to provide banks and commercial finance organizations with the ability to automatically extract data from their clients’ accounting systems and recreate the history in RiskFactor. This means that RiskFactor can offer lenders a holistic view of their clients’ financial position, both in terms of financials and in terms of collateral.
“We are delighted to become an exclusive distributor of the Validis extractor technology. We firmly believe that the ability to extract financial and collateral data directly from prospects’ and clients’ accounting packages and re-create the full history in RiskFactor, will transform the way new and established lenders deliver their products and services,” said Tim Yates, managing director for RiskFactor Solutions Ltd. “The combined strength of the solution will enable lenders to challenge the way existing products are delivered and provide the foundation for new products. The combined solution “ticks all the boxes” for lending in the new world environment – outstanding customer experience, greater operational efficiency, enhanced compliance framework and access to greater risk intelligence.”
“We chose to partner with RiskFactor because of its market leading position, extensive expertise in the industry and global client base,” said Simon Leech, CEO for Future Route. “Together we are able to offer an integrated and secure solution that increases the speed at which banks and commercial finance organisations can process data, simplify reporting and standardise workflows.”
RiskFactor Solutions is a global risk and fraud management solutions provider to the commercial finance industry.