The contract will see Equiniti Riskfactor provide its specialist risk management software to the Canadian asset-based lending market for the first time
Equiniti Riskfactor is pleased to announce its first Canadian client, Baron Finance, a financial services provider specialising in asset-based lending, invoice factoring, purchase order financing and accounts receivable funding.
Ontario-headquartered Baron Finance has been providing these services to hundreds of small to medium sized businesses in Canada since 1992, helping them to become financially stable.
The deal will see Equiniti Riskfactor provide Baron Finance with its flagship risk management and analytics software and marks its first involvement in the Canadian market as part of its continued international strategy in looking for opportunities across the world to implement its specialist risk management products.
The software, EQ Riskfactor, has been built for the invoice finance market and uses unique risk algorithms to highlight deteriorating profiles and unusual client activity enabling lenders to identify fraudulent activity earlier than any other system.
Aaron Hughes, Managing Director at Equiniti Riskfactor, comments:
“We are very excited to have launched Equiniti Riskfactor in Canada and are looking forward to working with Baron Finance over the coming months and years. Our technology will enable Baron Finance to protect their business from fraud by providing an in-depth understanding of the risk across their portfolio and identify, earlier than before, any signs of atypical, and potentially fraudulent, behaviour.
“Our software allows lenders to take a risk-based approach when allocating resource and ultimately improves the overall efficiency of the business. I am delighted to welcome Baron Finance on board and supporting their business in its next growth phase.”