Craig Asano, founder and executive director of NCFA Canada, stated:
“As consumer finance continues to evolve through technology innovations and data advancements, marketplace lending will gain rapid momentum this year. LendingArch is positioned to disrupt financial services incumbents through its new type of lending platform that leverages a competitive edge with proprietary underwriting for prime and future prime borrowers. Their database technology provides customized, affordable loan options to responsible Canadians. As a result, we are thrilled to be working with Arti and her team to bring further thought leadership and FinTech options to the market.”
Modi then added:
“Marketplace lending is demonstrating how banking is necessary, but banks in the traditional sense are becoming less relevant. LendingArch has built a new type of lending platform for a new generation of borrowers. Our disruptive borrowing system merges new technology real-time, with non-traditional data. This hyper-personalized customer service platform values people’s future potential – not just their credit score. I look forward to bringing financial advancement to Canadians through full transparency and lower rates.”
Modi will also be speaking at NFCA’s 2nd Annual Canadian Crowdfunding Summit, which will be held this Thursday in Toronto.