Enova Decisions, an analytics and decision management company, and DecisivEdge, a software engineering company, announced a strategic partnership to enable lenders to accelerate digital transformation quickly, scale operations and provide more flexible financing options to their customers. Enova Decisions is part of Enova International, a leading machine learning (ML) and artificial intelligence (AI) powered financial services company.
DecisivEdge's Lending & Leasing as a Service (LLaaS) equips midsize direct and indirect lenders with enterprise technology to streamline the entire loan process, from origination to collections. Enova Decisions' modern decision engine, Enova Decisions Cloud™, gives lenders the ability to optimize key risk decisions throughout the loan process through ML. Their combined technologies and services will allow lenders to accelerate digital transformation and fine-tune operations in order to: efficiently onboard new customers, effectively manage their portfolio and quickly launch new products while mitigating risk.
"We are excited to form a strategic partnership with Enova Decisions," said Sukumar Narayanan, President of DecisivEdge. "Our best-in-class loan originations and servicing platform combined with Enova Decisions' flexible rules engine will offer lenders a solution that will propel their portfolio growth with a high degree of confidence in the quality of loans booked," said Narayanan.
With unique expertise in the non-prime market, Enova Decisions provides lenders with access to the most predictive non-traditional and alternative credit data for decisioning. As a result, lenders have the tools and support needed to profitably meet the credit demands of the underserved market.
"Enova Decisions' cutting-edge technology, machine learning and AI have enabled us to make better lending decisions while also closing the world's credit gap," said Jim Granat, Senior Vice President, Enova Decisions. "Our strategic partnership with DecisivEdge will empower other lenders to do the same."