Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V00) ("Inverite" or the "Company"), a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce a significant update to one of its platform products, Microcheck offering key benefits that will enhance value to both the Inverite and its lender partners.
Microcheck is Inverite's advanced alternative database that consolidates non-registered loan information from individuals into a centralized, shared database. This unique Canadian offering enables lenders to access and share insights into borrowers' creditworthiness, when traditional credit bureau data is void or insufficient as most if not all alternative lenders report to the Canadian credit bureaus.
This significant update decouples Microcheck from Instant Bank Verification (IBV), meaning that Microcheck now operates independently, without requiring a successful bank verification with the consumer beforehand. This update creates new revenue opportunities, increases transaction volumes, while providing lenders with improved flexibility, cost efficiency, and streamlined decision-making.
Furthermore, by enabling Microcheck as a standalone API product, Inverite strengthens its product offering and enhances its position as a leading provider of end-to-end risk and verification solutions tailored for Canadian alternative lenders. It also solidifies Inverite's commitment to providing flexible, modular solutions that can easily integrate into the existing tech stacks of its financial services clients, reinforcing long-term partnerships.
For lenders, the update to Microcheck offers greater control and flexibility since lenders are no longer dependent on the completion of their consumer's IBV to gain valuable insights. Lenders can now initiate Microcheck transactions at any point in their adjudication process. This enhanced flexibility allows lenders to use Microcheck to assess risk before, during, or after the bank verification process, enabling them to make more informed and quicker decisions regardless of IBV success.
In addition, the ability to automate and batch-process Microcheck transactions provides Lenders with further efficiency, by scaling their operations by automatically running Microcheck checks across entire cohorts of applicants, streamlining workflows, reducing manual effort, resulting in cost savings. This automation makes it easier for lenders to handle high volumes of applicants while maintaining accuracy and speed in their decision-making.
"This update is a major milestone for both Inverite and our lender partners," said Karim Nanji, CEO of Inverite. "By offering new revenue streams, increasing flexibility, and improving decision-making efficiency, we're not just enhancing our platform-we're empowering lenders to make smarter, more cost-effective decisions."
About Inverite Insights Inc.
Inverite Insights Inc. ("Inverite") (CSE: INVR) (OTC Pink: INVRF) (FSE: 2V0) is a Vancouver-based, AI-driven software provider specializing in real-time financial data. With a vast database of over 25 billion financial data points from more than six million unique Canadian consumers transactions, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management and compliance.
For further information about Inverite Insights, please visit: inverite.com
ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104 Email: ir@inverite.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of the proposed transaction nor approved or disapproved the contents of this press release.
Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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