Finexos

Award-winning Finexos is the next-generation credit and affordably risk and analytics platform powered by advanced AI, data science and behavioural analytics. The unique technology reduces risk and costs for credit providers, unlocks untapped markets, promotes financial inclusion, and enables better APR rates and outcomes for consumers, SMEs and lenders.

FIOLA®, 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 cost-effective data science SaaS platform can be easily adopted to enrich data analysis and promote better decision-making and borrower outcomes.

The state-of-the art credit risk engine leverages up to eighteen times more data points to enhance credit decisioning and significantly increase the accuracy of the suitability and affordability calculation process for banks and lenders. The cloud-based SaaS platform also enables advanced loan book vulnerability analysis of existing lender portfolios to reduce default rates, improves Consumer Duty compliance, and can enable real-time affordability and vulnerability analysis.

The unique Finexos methodology enables larger volumes of borrowers to access credit while reducing Non-Performing Loan (NPL) ratios, improving capital allocation and substantially reducing the risk of default. This advanced automation of credit-decisioning processes dramatically speeds up decisions for borrowers and significantly reduces costs for lenders. The platform has no geographical constraints, works within institutions’ firewalls, and provides full data security as no PII is accepted or required.

The mutually beneficial Finexos system also reduces risk to credit markets, governments and regulators and protects the flow of credit. Assessing applications for credit using Finexos unlocks, de-risks and automates credit for consumers and lenders and improves financial performance, capability, and inclusion. Finexos has been accepted into the FCA’s Digital Sandbox and has won the Innovate UK Fairer Finance Hackathon 2020 and the PAN FINANCE Best Financial Inclusion Provider UK 2022.