Inovatec Systems, a provider of cloud-based loan origination and loan management solutions, appointed Bob Metodiev to the role of head of business development.

A former executive at Equifax, Metodiev will lead Inovatec’s business development initiatives and drive its growth strategy across North America. As part of his responsibilities, Metodiev will help build strategic partner alliances to accelerate growth in the automotive and equipment lending spaces.

Before joining Inovatec, Metodiev spearheaded projects for Equifax’s Canadian automotive unit, doubling the size and scope of its team within three years, and then moved on to Equifax’s U.S. division to manage strategic automotive partnerships. During his more than 15 years in the automotive finance marketplace, he has worked with partners such as Cox Automotive, RouteOne, Open Dealer Exchange and CU Direct, as well as OEM manufacturers BMW, Yamaha and Chrysler.

“We are delighted to welcome Bob Metodiev to Inovatec, and collaborate with him to build our profile and customer base throughout Canada and the United States,” Vladimir Kovacevic, CEO and founder of Inovatec, said. “His contacts and experiences will be a great asset to our organization as we continue to expand our reach and provide the efficient, secure and reliable loan origination services that today’s financing providers expect.”

Inovatec’s loan origination software (LOS) and loan management solutions are designed to facilitate all aspects of online loan origination and loan management. Inovatec’s portfolio is customizable and offers a roster of added features, including electronic document management, leasing support and third-party vendor management.

Inovatec provides a first-to-market, “success based” pricing structure, with lenders only paying for the transactions they book compared with per-application pricing methods. The combination of Inovatec’s portal, application architecture, management services and pricing allow Inovatec to deliver a digital experience for automotive and power equipment dealers during the online lending processes.

“In my previous dealings with Inovatec, I was always impressed with the company’s versatile solutions as well as their eagerness to surpass customer expectations,” Metodiev said. “I look forward to accelerating Inovatec’s presence in its traditional automotive and power equipment markets as well as expanding into new sectors that offer enormous growth potential.”