Alchemy enters strategic partnership with Flinks to help lenders make accurate data-driven decisions

By Pavithra R

Alchemy Technologies, a FinTech infrastructure development company that powers global FinTechs, banks and financial services, has announced entering into a strategic partnership with Montreal based Flinks, a data company empowering businesses to connect users with their preferred financial services, allowing lenders an unprecedented capability to make faster, more accurate data-driven decisions.

The collaboration enables Alchemy’s clients to efficiently verify their customer’s financial accounts and transaction history, and leverage advanced data analytics to assess risk, income, fraud, and more. Flinks is fully integrated with Alchemy to provide lenders with an intuitive, best-in-class decisioning workflow. Its unique data analytics engine extracts hundreds of model-ready insights tailored for lenders, helping them make sense of borrowers’ income, cash flow, liabilities, and more.

“It was great to work with the integration team at Flinks, their API documents are well written and their integration staff are always willing to help us to answer any questions. We were able to build up a lending demo site with Flinks integrated in three days.” said Timothy Li, CEO of Alchemy.

Flinks’ insights provide visibility over trends such as account balance and debit activities, as well as utility and loan payments with the ability to identify lenders already providing student loans, mortgages, micro loans, etc. These trending variables will help lenders and financial services companies to have a much better assessment of borrowers’ ability to repay, make more accurate decisions, and deliver personalized loan offers.

“The Alchemy partnership demonstrates our ability to integrate quickly with solution providers and other financial services providers. Our income and risk attributes are digested by Alchemy’s decision engine and their clients can now manage their verification and risk assessment automatically,” said Brock Leong, Director of Global Partnerships.

Founded in 2018, Utah based Alchemy is an end-to-end cloud-based SaaS solution provider for banks, speciality financing companies, Point of Sale financing, and FinTech startups. Its end-to-end infrastructure offering includes end-user experience, merchant experience, decision engine, loan origination system, loan management system, payment gateways, and secondary market access.