Finexos partners with Endava

Finexos has formed a new partnership with Endava plc, a leading technology services company. Through world-class engineering and 20+ years of industry expertise, Endava helps financial institutions meet demands and position their products and services at the forefront of innovation.  The partnership enables Endava to support financial institutions to better support their customers with access to responsible lending through the use of Finexos AI Credit Decisioning Software.

The state-of-the art Finexos credit risk engine enhances credit decisioning to significantly increase the accuracy of the suitability and affordability calculation process for banks and lenders. The unique methodology enables larger volumes of borrowers to access affordable credit while reducing Non-Performing Loans, improving capital allocation and substantially reducing the risk of default.

Legacy metrics result in a large number of borrowers being excluded from accessing affordable financial services. Lenders are also exposed to unnecessarily high risk as the trend for defaulting borrowers increases. Finexos software together with Endava’s industry knowledge aims to increase accessibility to a broader range of customers whilst at the same time providing a much more accurate assessment of borrower risk resulting in better outcomes for lenders.

The cost-effective data science SaaS platform can be easily adopted to enrich data analysis, with its advanced automation dramatically speeding up decisions for borrowers and significantly reducing costs for lenders. It has no geographical constraints, works within institutions’ firewalls, and provides full data security as no PII is accepted or required.

Lewis Brown, Endava’s Head of Alliances and Partnerships, said: “The addition of Finexos strengthens Endava’s banking ecosystem with new and existing AI based on software and, also brings to our clients new tools that fuel growth and react to new and future regulatory requirements.” 

Matthew Williamson, Endava SVP & Industry Principal, said: “At Endava we are delighted to announce our partnership with Finexos, demonstrating our ongoing commitment to Financial Inclusion. This relationship authentically aligns with our core values, using technology and democratising access to financial instruments. Enabling individuals and communities the ability to access fair, consistent next-gen real-time credit scoring. Empowering economic growth and stimulus.”

Darren Smith, Executive Director of Finexos, commented: “I am delighted that Endava has chosen Finexos to provide their customers with our advanced AI data science SaaS platform which will enable then to provide more inclusive, Consumer Duty-compliant lending decisions whilst also reducing risk in their lending portfolios.”

About Endava 

Technology is our how. And people are our why.  

For over two decades, we have been harnessing technology to drive meaningful change.  

By combining world-class engineering, industry expertise and a people-centric mindset, we consult and partner with our customers to create technological solutions that drive innovation and transform businesses.

Working side by side with leading brands, we build strategies, products and solutions tailored to unique needs, regardless of industry, region, or scale. From ideation to production, we support our customers through every step of their digital transformation journey, creating dynamic platforms and intelligent digital experiences across various industries.

About Finexos

Award-winning Finexos combines advanced AI, behavioural analytics and real-time data to reduce risk, costs and default rates for lenders, borrowers and society. The next-generation credit and affordability risk and analytics platform reduces costs for credit providers, unlocks untapped markets, promotes financial inclusion and regulatory compliance, and removes unwanted bias to enable better decisions and better outcomes for consumers, SMEs, banks and lenders. 

Finexos’ proprietary AI-powered risk engine utilises multi-source data, including open banking, and machine learning to help enable any provider of credit to automate processes and rapidly determine a borrower’s creditworthiness with high accuracy. The cloud-based SaaS platform also provides advanced loan book vulnerability analysis of existing lender portfolios to reduce default rates and can enable real-time affordability and vulnerability analysis.