Inovatec Systems, a provider of cloud-based software solutions for lenders, signed an agreement with AFG Canada to provide automated financing technology that supports the organization’s automotive leasing programs available to Canadian credit unions. As part of the deal, AFG Canada will leverage Inovatec’s Consumer Direct portal to provide lease origination services to credit unions that are looking to offer leasing options to consumers.

AFG Canada provides technology and staffing that enables Canadian credit unions to offer automobile leasing programs to consumers and businesses in Vancouver. AFG Canada manages the residual value risk and the vehicle turn-in process. AFG Canada will empower credit unions to add automobile leasing services to their portfolios without having to invest in infrastructure or personnel by integrating Inovatec’s technology into its offering.

“Our partnership with AFG Canada will directly benefit the hundreds of credit unions across Canada that are eager to offer compelling automotive leasing programs to consumers and businesses,” Vlad Kovacevic, co-founder and CEO of Inovatec, said. “We always strive to deliver innovative origination and management features that enable our customers to expand their portfolios, increase revenue, satisfy customers and lower expenses. The relationship with a like-minded organization like AFG Canada gives us the ability to help credit unions provide competitive leasing options to their members.”

“We are very proud to join forces with Inovatec, which has been at the forefront in creating reliable, secure and flexible origination and management solutions for lenders,” Mark Caschera, vice president of AFG Canada, said. “We are confident that this partnership will become immediately beneficial to the many Canadian credit unions that are looking to add leasing programs to their portfolios.”