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Accord Financial Leverages Fincura's Capabilities to Simplify Access to Capital

Posted by Fincura | Jan 12, 2021 9:00:00 AM

Accord - Press Release Header


“Fincura is the missing piece to our competitive differentiation. I’ve been looking for a product like this for years.”

- Eric Starr, SVP, Program Operations and Risk at Accord Financial


Fincura, Inc. (Fincura) expands relationship with Accord Financial Corp. (Accord), one of North America’s leading independent finance companies, providing its AI and machine learning capabilities to significantly enhance the richness of data collected by Accord, enabling insight, service, support and knowledge few lenders can rival.


As Accord looks to continue its transformation into a tech-driven lender reinventing the supply chain of capital, Fincura will supercharge the financial analysis process during underwriting and recurring portfolio management. “Fincura’s financial insight engine gives us the power and flexibility to grow in ways that were not possible before,” said Eric Starr, SVP, Program and Operations Risk at Accord. “Fincura is the key to unlock our ability to make more quantitative decisions on large, bespoke commercial transactions.”


Fincura enables Accord’s underwriters to propose multiple loan structures, evaluate coverage ratios, and determine risk metrics within minutes of receiving unstructured financial documents from their prospects and customers. Due to the success of their existing relationship, Accord broadened its use of Fincura’s new underwriting products across its business segments and financial products, including Asset-Based Lending, Equipment Financing, and Small Business Financing.


“Accord was among the first lenders to partner with us,” says Cody Putre, COO and co-founder of Fincura. “We’re thrilled to expand our relationship to power their underwriting teams.”


About Fincura

Fincura unlocks data that is trapped in financial statements, spreadsheets, databases, and workflow tools for commercial lenders to optimize operations and future-proof their business. By marrying artificial intelligence and human judgment, Fincura’s financial insight engine can extract financial data from scanned, unstructured documents and ensures that every team has easy access to a unified, transparent, and deep data asset. Fincura’s cloud-based architecture and focus on user experience power simple integrations, fast onboarding, and a product that adapts to its customers’ evolving needs.


About Accord

Accord Financial (TSX: ACD) is North America’s most dynamic commercial finance company providing fast, versatile financing solutions for companies in transition including factoring, inventory finance, equipment leasing, trade finance and film/media finance. By leveraging our unique combination of financial strength, deep experience and independent thinking, we craft winning financial solutions for small business and medium-sized enterprises, simply delivered, so our clients can thrive.

Topics: news

Written by Fincura