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Inovatec Signs Agreement with AFG Canada to Provide Lease Origination Services

July 06, 2022, 07:00 AM
Filed Under: Automotive

Inovatec Systems, a provider of cloud-based software solutions for lenders, announced it has reached an agreement with AFG Canada to provide automated financing technology that supports the organization’s automotive leasing programs available to Canadian credit unions. As part of the relationship, AFG Canada will leverage Inovatec’s proven Consumer Direct portal to provide comprehensive lease origination services to credit unions that are looking to offer robust, flexible and secure leasing options to consumers.

Based in Vancouver, AFG Canada provides technology and staff that enables Canadian credit unions to offer automobile leasing programs to consumers and businesses. AFG Canada manages the residual value risk and the vehicle turn-in process, making the leasing experience more convenient for members. By integrating Inovatec’s innovative and trusted technology into its offering through an API, AFG Canada empowers credit unions to easily add compelling automobile leasing services to their portfolios without having to invest in infrastructure or personnel. This enables credit unions to quickly offer auto dealers competitive leasing programs that are appealing to consumers.

“Our partnership with AFG Canada will directly benefit the hundreds of credit unions across Canada that are eager to offer compelling automotive leasing programs to consumers and businesses,” said Vlad Kovacevic, co-founder and Chief Executive Officer of Inovatec. “We always strive to deliver innovative origination and management features that enable our customers to expand their portfolios, increase revenue, satisfy customers, and lower expenses. The relationship with a like-minded organization like AFG Canada gives us the ability to help credit unions provide competitive leasing options to their members.”    

Inovatec’s cloud-based solutions enable lenders to expedite underwriting and improve loan management through intelligent automation that can be customized to meet the exacting needs of lenders. The company’s solutions allow lenders and other financing organizations to adjust workflows and create new business processes as needed, ensuring that lenders can compete without compromising data security, privacy, and regulatory compliance.

“We are very proud to join forces with Inovatec, which has been at the forefront in creating reliable, secure, and flexible origination and management solutions for lenders,” said Mark Caschera, Vice President of AFG Canada. "We are confident that this partnership will become immediately beneficial to the many Canadian credit unions that are looking to add leasing programs to their portfolios.”

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