Digital Matrix Systems (DMS) has entered into a collaboration with Enova Decisions to address risk management requirements of lenders.

The partnership will seek to generate maximum value from data to support lending decisions.

The step is expected to help the lenders in determining the creditworthiness, thereby reducing fraud risks. It will also help in reaching the underbanked consumers.

Enova Small Business and Enova Decisions senior vice president Jim Granat said: “We’re excited to work with the Digital Matrix Systems team.

“We are continually looking for ways we can improve the solutions we deliver to our clients, and this partnership enables us to enhance our core ML and advanced analytics capabilities and make even more data available to our clients in real-time.”

The collaboration will utilise Enova Decisions’ decision management platform Enova Decisions Cloud to support decision making.

The company will also leverage DMS’ connectivity hub Data Access Point which will connect clients to all three credit bureaus and around 20 alternative data source providers with a single inquiry.

All credit reports are delivered in a DMS Credit Report format.

Enova Decisions will also leverage the tri-bureau DMS Summary Attributes to consolidate credit information for easier analysis.

Digital Matrix Systems senior vice president Carson York said: “We are thrilled to be working with Enova Decisions in the delivery of analytic services that improve outcomes for lenders.

“DMS seeks partners that are committed to exceeding client expectations, and Enova consistently does this for their client base through the development of models that support lenders and mitigate risk through the entire customer journey.”