Fairstone Financial Inc. to Automate Identification Verification Following Partnership with Holt Accelerator

Fairstone Financial Inc. (“Fairstone”), Canada’s leading non-bank provider of responsible consumer lending solutions, has partnered with Holt Accelerator Inc. (“Holt Accelerator”), a Montreal-based program supporting entrepreneurship in the fintech industry.

Fairstone has acted as an advisor company to participants in the accelerator program since 2018 and recently signed an agreement with Owl.co (“Owl”), a Holt Accelerator portfolio company, following a competitive selection process. Fairstone will use Owl’s “Know Your Customer” solution to automate the customer verification and authentication process in the Company’s digital loan closing operations, as well as in its high-volume branch locations across Canada.

“With stable growth in our lending operations, Owl’s identification verification solutions allow us to solve an area of friction for customers by streamlining and automating the identification verification process in a highly secure and efficient manner,” said François Côté, Chief Digital and Technology Officer for Fairstone. “We believe this will achieve gains in operational efficiency as well as further complement our existing fraud prevention measures.”

Owl will work closely with the digital and technology teams housed in Fairstone’s recently launched FairstoneLab, an internal space designed to foster innovation and collaboration.

SOURCE Fairstone Financial Inc.