CODIX, a global software provider, has entered a strategic partnership with Lenvi, a fintech specialising in B2B consumer and commercial lending software and solutions.
This collaboration aims to help finance firms and fintech companies identify fraud and meet compliance requirements.
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In a statement, the company said, that by integrating Lenvi’s Riskfactor into CODIX’s commercial finance solution, iMX, the goal is to enhance effective risk management for over 50,000 iMX users across 50 countries.
This partnership grants CODIX’s clients which already have access to Riskfactor, a comprehensive risk management toolkit, utilised by 90% of the UK market. The integration of iMX with Riskfactor enables users to detect fraud by conducting thorough risk profiling of each client and debtor.
The software leverages data and sophisticated fraud analytics to identify trends, introducing a risk-based monitoring approach that directs user attention to urgent issues through Riskfactor-analyzed work lists.
CODIX’s iMX solution is an event-driven management system for the commercial finance and collection markets, supporting its users for functions such as accounts receivable financing, factoring, credit insurance, leasing, and collections (early, late, and legal).
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By GlobalDataRiskfactor is Lenvi’s risk management software, using risk metrics to boost operational efficiency for businesses. According to a statement by the company, the software has over 90% of the market share in the UK and a significant presence in continental Europe, where it has been active since 2007.
Richard Carter, CEO of Lenvi, said: “We are extremely proud to have joined forces with CODIX and excited to unveil our new strategic partnership. Through harnessing our joint expertise and quality technology we will offer CODIX clients enhanced risk management through our comprehensive risk profiling of every client and debtor”.
Laurent Tabouelle, CODIX Group COO, said: “We are very excited about our new partnership with Lenvi. I believe that this collaboration holds tremendous potential to enhance the added value we provide to our shared clients. Through a bi-directional integration and strengthened global collaboration, both of our companies are now poised to deliver an even higher level of services and innovation. We eagerly anticipate witnessing the synergy and the continued progress of this joint initiative.”
