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

January 13, 2021, 07:20 AM
Filed Under: Industry News

Fincura, Inc. has expanded its relationship with Accord Financial Corp. providing its AI and machine learning capabilities to significantly enhance the richness of data collected by Accord, enabling insight, service, support and knowledge.

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, Senior Vice President, 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 is the missing piece to our competitive differentiation. I’ve been looking for a product like this for years,” Starr said.

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,” said Cody Putre, Chief Operating Officer and co-founder of Fincura. “We’re thrilled to expand our relationship to power their underwriting teams.”

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