Inovatec Systems announced it has reached an agreement with TruDecision, a developer of AI and machine learning-based analytics tools that improve loan portfolio performance. Through this relationship, Inovatec customers will have access to TruDecision’s analytics capabilities through Inovatec’s LOS and LMS platforms, enabling lenders to automate critical processes like risk mitigation, credit scoring and decisioning, collections, and cross-marketing.
Based in Irving, Texas, TruDecision serves a variety of lenders, including banks, credit unions, and finance companies. Its solutions are applied in multiple lending sectors, such as automobile, motorcycle, power sports, and personal loans. The company serves lenders in both the United States and Canada and offers customers an analytics-as-a-service model that enables lenders to use TruDecision on a pay-per-use basis.
“We are always looking to work with best-of-breed technology partners that can add significant value to our lenders, especially those innovators that can make an immediate impact in terms of reducing risk and growing the bottom line,” noted Bob Metodiev, head of business development for Inovatec. “TruDecision not only ticks the boxes in terms of technology excellence, but also possesses a comprehensive understanding of the challenges and opportunities that define modern lending. We are eager to work with the TruDecision team and deliver the compelling analytics capabilities that can have an enormous impact on loan performance.”
“We are delighted to work with Inovatec, which is not only the established market leader in Canada, but is also rapidly building a sizable customer base in the United States,” said Daniel Parry, TruDecision’s chief executive officer. “We share Inovatec’s belief that every lender—regardless of size or market orientation—should have seamless access to modern analytics capabilities that can have a profound impact on portfolio performance.”