FundMore.ai has won the Canadian Lenders Association’s prestigious Fintech Innovator of the Year Award for 2020. The Canadian Lenders Association (CLA) is the voice of Canada’s lending ecosystem. The association represents more than 100 companies in commercial and consumer lending, which are among Canada’s most recognizable financial institutions and fintech brands.
How The Awardees Were Selected
This year CLA received 78 nominations across 8 categories, each of which represents an important pillar of the Canadian lending industry. In order to select this competitive list, the CLA evaluated nominees based on three criteria:
- Use of technology to solve problems and drive efficiencies throughout the lending industry.
- Implementation of new or innovative lending strategies & business models.
- Positive outcomes following successful implementations of a new technology or business model.
The awards this year were sponsored by BMO (Bank of Montreal), which is the eighth largest bank, by assets, in North America.
FundMore.ai is Proud to be a CLA Member
FundMore.ai is proud to have earned a coveted membership to the Canadian Lenders Association. All CLA members are vetted and accredited based on their corporate standards and values. The association’s role is to support the highest level of lending in Canada, servicing a wide spectrum of business and consumer borrowers’ growth requirements.
The CLA requires all its members to act in accordance with the mission and purposes, which include supporting the growth of all aspects of Canada’s lending ecosystem including policy, advocacy, standards, innovation, and the adherence to and promotion of best practices as well as commitment to safe and ethical lending standards. Membership in the CLA sets our lenders and supporting affiliates apart as trusted brands.
CLA’s Message of Recognition for the Lending Industry and Fintech
Here is what the CLA has to say about the contribution of the lending industry and fintech in 2020 in the midst of the Covid-19 crisis:
2020 has been a year marked with incredible resilience, recovery and innovation. Though many industries played vital roles supporting Canada’s businesses and citizens through COVID, the lending industry deserves special recognition. This year lenders took extraordinary steps to support Canadian families and entrepreneurs. Many instituted relief programs, cut rates, and worked with all levels of government to ensure that those in need would still be able to access credit.
COVID has also been a period of immense innovation in Canada. Forced to digitize, lenders and borrowers have embraced fintech, leading to an increase in financial inclusion and literacy across the country. What is even more remarkable is the number of new firms launched during this period.
FundMore.ai is an automated underwriting system that uses machine learning to streamline the Pre-Funding process for loans. The goal and mission of the dynamic team of fintech innovators at FundMore.ai is to create a platform that lets the lenders provide a seamless mortgage lending experience that is personalized for both lenders and borrowers.
We are working round the clock to make the private mortgage industry more available and more accessible to all the participants. To learn more about how FundMore.ai solutions can help your business or to set up a consultation, call us at 647-363-6336 or contact us online today.