Enova Decisions has entered into a strategic partnership with open banking behavioural data analytics provider RIBBIT.ai.

The collaboration will provide Enova Decisions’ clients with deeper bank insights to facilitate decision making process.

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The Enova Decisions Cloud, a decision making engine, enables lenders to optimise key fraud and risk decisions throughout the financing process. The technology leverages machine learning (ML) for decision making.

The integration of RIBBIT.ai technology with the platform will help the clients to onboard, evaluate, underwrite and facilitate payments for all applicants in real-time.

RIBBIT.ai CEO Shawn Princell said: “Due to the pandemic, lenders are looking to go upstream to the bank account to access the recency and accuracy of bank data.

“Our integration with Enova Decisions will deliver deep behavioural insights on all user bank accounts, regardless of how the user provides their bank account data.”

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Enova Decisions senior vice president Jim Granat said: “Analytics and AI is the core of everything we do. Partnering with a like-minded company like RIBBIT.ai will empower lenders to reap the benefits of AI without the heavy investment.”

Established in 2016, Enova Decisions is an analytics and decision management technology company that helps its clients to take faster fraud, credit and collections decisions.

In March, Digital Matrix Systems (DMS) partnered with Enova Decisions to address risk management requirements of lenders.