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 state of the art optimization methods. As part of the deal structure, Pat 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 credit decisions and risk profiles of their new and existing clients. 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.
Through this IP acquisition, Uplinq will now benefit from an exciting technology, which has served as a foundational component for the underwriting of 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.
Over his career, Pat has held several senior positions within a number of legacy financial institutions and has advised the United States Government and World Bank on matters relating to credit lending, as well as being an on-going thought leader speaker at the G20. Pat will bring this wealth of experience to Uplinq, enabling the company to establish true credibility within its sector from its first day of launch.
Speaking on the IP acquisition, Pat Reilly, CEO of Verde International and co-founder of Uplinq commented: “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.”
Ron Benegbi, Founder and CEO of Uplinq commented: “We’re delighted to have completed this IP acquisition and welcome Pat Reilly into our business as a new co-founder. The technologies offered by Verde greatly simplify the credit decisioning process for lenders, which, once integrated into our platform, will enable SMBs to get easier access to capital at this important time. As access to capital has never been more difficult for small business owners to attain, our services are needed more than ever, especially as lenders try to better support unbanked, minority and immigrant SMBs.”
