Inverite Insights signs two-year deal with NewRoads

Executive Summary

• Inverite Insights Inc. entered a 24‑month agreement with NewRoads Automotive Group to deploy its Instant Bank Verification (IBV) and AI‑driven KYC/liveness solution across NewRoads’ automotive retail and financing operations in the Greater Toronto Area.
• The integration will enable real‑time income verification, reduce manual processing, accelerate loan approvals and strengthen fraud prevention for NewRoads dealers and lenders.
• The partnership expands Inverite’s footprint in the Canadian automotive finance sector and enhances its data set for machine‑learning‑driven risk and compliance tools.

Key Details

• Agreement Length: 24 months.
• Scope of Services: NewRoads will adopt Inverite’s Instant Bank Verification (IBV) platform for income verification and its identity/KYC solution with liveness detection.
• Technology Integration: AI‑driven open‑banking ready platform to provide real‑time income verification, reduce friction in financing journeys, and improve identity assurance prior to loan approval.
• Operational Benefits Expected: Streamlined dealer and lender workflows, reduced manual processing, faster and more consistent customer experience, shortened approval times, and lowered fraud risk.
• Strategic Impact for Inverite: Broadens data set used for machine‑learning enrichment and fraud detection; reinforces position as a trusted decisioning solution provider for Canadian lenders in the automotive finance sector.
• Geographic Focus: Greater Toronto Area (GTA) automotive retail and financing operations.

Notable Quotes

• “Inverite's verification platform will help us shorten approval times and reduce fraud risk while keeping the process simple for our customers,” – Kathy Nga, Leasing Manager, NewRoads Automotive Group.
• “This agreement strengthens our presence in automotive finance and brings real‑time verification to NewRoads' customers,” – Karim Nanji, Chief Executive Officer, Inverite Insights Inc.