ABLE Platform Partners with CARFAX Canada for Transparent Auto Lending

ABLE Platform connects to CARFAX Canada vehicle history network to make loan origination, servicing, and collection data-driven and transparent for all auto lenders.

(TORONTO, March, 2023) – ABLE Platform, a trusted provider of financial and banking software products, and CARFAX Canada, the country’s definitive source of vehicle history information, have established a long-term partnership program. The program’s strategic goal is to ensure the transparency of vehicle information for auto lending organizations, insurance companies, and their customers.

Due to the use of ProcessMIX—ABLE Platform’s no-code decisioning module—and CARFAX Canada’s extensive data network, strategy building becomes simple and comprehensive. Auto lenders and insurers can automate vehicle price calculation without IT department involvement, and easily configure all inbuilt rules and strategies. The ongoing monitoring of vehicle conditions in CARFAX Canada’s data network can ensure periodic automated collateral reassessment. The collateral value is automatically changed or even eliminated if a car gets damaged.

Due to the collaboration of ABLE Platform and CARFAX Canada, auto financiers and their customers get access to the most detailed and reliable vehicle history. Drawing on billions of data records from thousands of unique sources, the history information includes accidents, damage, import status, and other potential vehicle risks. The data provided by CARFAX Canada enables the transparency and automation of lending and insurance for auto dealerships, insurance companies, and their clients.

“CARFAX Canada has all the information lenders and insurers need. At ABLE Platform we know how to use it. Our customers can easily engage CARFAX Canada’s vehicle history data network for accurate collateral assessment and monitoring. No coding or IT specialist involvement is needed. Our clients get ready-made API to reach all the necessary vehicle information from CARFAX Canada for automation of loan decisioning end-to-end,” says Peter Shubenok, Founder at ABLE Platform.

About ABLE Platform

ABLE Platform has collaborated successfully with over 25 banks, financial organizations, and alternative lenders since 2014. We specialize in risk automation, lending origination, and cross-sell optimization. For more information, visit https://ableplatform.io.

Association Contact

Iryna Shmanenko,
Country Manager, USA & Canada
iryna.shmanenko@ableplatform.io

About CARFAX Canada

CARFAX Canada, a part of S&P Global (NYSE: SPGI), is Canada’s definitive source of automotive information, delivering vehicle history, appraisal and valuation. Drawing on billions of data records from thousands of sources, its products enable used vehicle buyers and sellers to make informed decisions. CARFAX Canada is dedicated to transparency and is trusted to provide vehicle history and valuation information to dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies. www.carfax.ca

For further information or to speak with a company representative, please contact: media@carfax.ca