Uplinq completes its IP acquisition of Verde International
By Joy Dumasia
Uplinq Financial Technologies, the transformational data analytics company serving the global small business lending community, is pleased to announce its intellectual property (IP) acquisition of Verde International’s advanced behavioural, econometric and financial models and optimization methods. Ast Reilly, CEO of Verde International, will join Uplinq as a co-founder.
Uplinq has completed its IP acquisition of Verde International’s small business regulatory compliant decisioning engine, powered by Artificial Intelligence (AI). The move forms part of the company’s plans to transform how small business lenders globally evaluate their new and existing clients’ credit decisions and risk profiles. To this end, the IP acquisition will now allow the company to deliver scientifically validated financial results to its customers, which no other service provider can offer.
Uplinq will now benefit from an exciting technology, which has served as a foundational component for underwriting over $1.4 trillion worth of loans over the past 15 years. Alongside the IP acquisition, Pat Reilly, CEO of Verde International, will join Uplinq as a co-founder. With over 30 years of experience in financial services, Pat is ideally placed to help the company as it drives forward to full launch in Q1 2022.
Pat has held several senior positions within several legacy financial institutions, has advised the United States Government and World Bank on credit lending, and has been an ongoing thought leader speaker at the G20.
Pat Reilly, CEO of Verde International and Co-Founder of Uplinq, stated: “Verde International’s systems will enable Uplinq’s solutions to be highly scalable, across a wide range of financial institutions and small business lenders globally. Moving forward, Uplinq will benefit from a true AI brain within its array of solutions, enabling the company to be more versatile in who it can provide its systems to. Alongside Ron and the rest of the Uplinq team, I’m now fully focused on launching the business in early 2022 and transforming the world of small and medium-sized business (SMB) lending.”
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