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Endava & Finexos partner to bring AI-powered credit decisioning

By Gloria Methri

May 21, 2024

  • AI lending
  • Credit Decisioning
  • Credit Risk Assessment
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Endava, FinTech, UK, Credit Risk Engine, Credit Risk Analysis, Credit Decisioning, Finexos, AIEndava, a London-based technology services company, has partnered with Finexos, an AI-powered credit risk and analytics platform.

The Finexos credit risk engine enhances credit decisioning to increase the accuracy of banks’ and lenders’ suitability and affordability calculation processes.

This methodology enables larger numbers of borrowers to access affordable credit while reducing non-performing loans, improving capital allocation, and substantially reducing the risk of default.

This partnership enables Endava to help financial institutions better support their customers with access to responsible lending using Finexos AI credit decisioning software.

Legacy metrics exclude many borrowers from accessing affordable financial services. As the trend for defaulting borrowers increases, lenders are also exposed to unnecessarily high risk. Finexos software, together with Endava, aims to increase accessibility to a broader range of customers while 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 adapted to enrich data analysis. Its advanced automation dramatically speeds up decisions for borrowers and reduces costs for lenders. It has no geographical constraints, works within institutions’ firewalls, and provides full data security as no PII (personally identifiable information) is accepted or required.

Matthew Williamson, SVP & Industry Principal at Endava, 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. It will give 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, said, “I am delighted that Endava has chosen Finexos to provide their customers with our advanced AI data science SaaS platform, which will enable them to provide more inclusive, Consumer-Duty-compliant lending decisions whilst also reducing risk in their lending portfolios.”

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