ConsumerCapital Canada Harnesses Trust Science® to Reach Instant Decisions from Lead to Loan™

This achievement is made possible by combining credit file information with banking transaction information. One Touch Lending uses actionable insights into a borrower’s risk profile that includes both the long term view from the credit file and the short term view from their banking transactions.

“The ConsumerCapital Canada team is excited to have taken this step in transforming online lending. This partnership opens new opportunities to streamline and improve our credit processes to deliver an industry-leading consumer experience,” said Steve Malone, CEO of CanCap Group Inc. “Trust Science is an extremely valuable partner and our collaborative efforts on this strategic partnership will deliver breakthrough accuracy and predictiveness thanks to combining banking data and credit file data and our historical loan performance. Our borrowers as well as our lead generation partners will both ultimately benefit from this industry leading, best-in-class experience.”

Trust Science’s platform leverages multiple data sources, including traditional credit bureau data and banking data, to instantly deliver highly predictive and proprietary decisions about leads and/or about loan applications.  Credit Bureau+™ covers a broad range of capabilities, from Lead to Loan™. These capabilities include verification of income, as well as bank account data categorization (eg table of all debts), decision engine capabilities, and its flagship Six°Score™ for risk rank ordering. The legally-compliant implementation of a complete Lead to Loan™ solution for ConsumerCapital Canada is bringing unprecedented levels of automation and accuracy to the lead buying and loan underwriting process.

“Trust Science offers so much more than a highly accurate credit score — our platform applies  logic to multiple data sources and data types in a workflow that enables lenders to adjudicate loans with just one touch of the consumer,” said Evan Chrapko, Founder and CEO of Trust Science. “We are proud to bring this patented, FCRA-compliant service to lenders across the US and Canada so that more deserving people can get the money they deserve.”

For more information regarding this release and Trust Science, please visit www.TrustScience.com or contact [email protected].

About ConsumerCapital Canada

ConsumerCapital Canada is a wholly owned subsidiary of CanCap Group Inc. which is a privately-held originator, servicer and acquirer of automotive, consumer and merchant credit portfolios. CanCap’s businesses include:

1. AutoCapital Canada Inc. an auto financing business of indirect and third-party originations and servicing of automotive loans and 2022 winner of the Canadian Lenders Association Auto Lender of the Year award.
2. ConsumerCapital Canada Inc., an online-based personal loans company
3. MerchantCapital Canada Inc., a merchant lending company for emerging retail and fintech financing companies.
4. End to end Lending as a Service capabilities for Financial Institutions across all retail and small business asset classes

About Trust Science Inc. (see global I.P. map here)

Trust Science® delivers its Credit Bureau+ SaaS to lenders. This award-winning FinTech uncovers Invisible Prime™ and Hidden Prime™ borrowers for banks, credit unions and consumer finance companies. Its mission is To Allow Deserving People to Get What They Deserve.

Superior decisions–which the F.I. industry calls “lift”–go straight to the lender’s bottom line, delivering risk-adjusted ROIs of up to 201x and material increases to ROA, ROC, ROE (Finance), AUC, KS & Gini (Statistics). In addition to de-risking lenders’ ability to give loans to deserving applicants who are wrongly scored by conventional means, Trust Science also brings a risk lens to the Marketing function (sourcing leads, pre-qualifying, pre-screening, and direct mail lists.)

Financial Inclusion and economic mobility is delivered to consumers by accurately assessing systemically excluded, thin file, and so-called ‘no hit’ loan applicants. Previously marginalized people now have an onramp into the modern economy, which is a multi-Trillion-dollar global opportunity, if they are approaching a lender that uses Credit Bureau+. Gartner® has cited Trust Science contributions re: Explainable AI (“xAI”) research and Trust Science also prioritizes compliance with consumer protection and privacy laws like FCRA, ECOA, PIPEDA & CPRA.

Importantly in these volatile and privacy-challenged times, this platform has productionized Statistical Learning with its scalable MLOps platform, and it also has direct-to-consumer Smart Consent™ technology for gathering consented, permissioned data from loan applicants. The technology and methods harnessed to make all of this possible are now protected by 50+ patents (2 of which have been successfully used in an offensive capacity in the U.S.) and trademarks granted across 19 different countries, with more patents still pending around the world.

Trust Science was founded and is led by a serial technology commercialization entrepreneur who has delivered over US$1/2 Billion of realized gains to shareholders in his career, and who was added to a list of the Top 50 CEOs in A.I. The company was recently included in the Global Impact 200 alongside 17 other ESG-forward technology companies like Microsoft and Tesla. It was also named to the Top 20 of The Globe and Mail’s list of Top Growing Companies, out of over 4M active companies. Trust Science is preparing to raise funds at the Series B level into one of the business world’s most simple cap tables.