Accord Financial Expands Relationship with Fincura
JAN 13, 2021 - 6:40 am
Fincura expanded its relationship with Accord Financial, a North American independent finance company, and will provide its AI and machine learning capabilities with the aim of enhancing the richness of data collected by Accord, which will use these new tools on the financial analysis process during underwriting and recurring portfolio management.
“Fincura’s financial insight engine gives us the power and flexibility to grow in ways that were not possible before,” Eric Starr, SVP of program and operations risk at Accord, said. “Fincura is the key to unlock our ability to make more quantitative decisions on large, bespoke commercial transactions.”
Fincura will enable Accord’s underwriters to propose multiple loan structures, evaluate coverage ratios and determine risk metrics after receiving unstructured financial documents from prospects and customers. Accord has broadened its use of Fincura’s new underwriting products across its business segments and financial products, including asset-based lending, equipment financing and small business financing.
“Accord was among the first lenders to partner with us,” Cody Putre, COO and co-founder of Fincura, said. “We’re thrilled to expand our relationship to power their underwriting teams.”
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