Carrington Labs, the enterprise software division of ASX-listed Beforepay Group Limited, have announced that it has been engaged to provide credit risk-modeling services to Doc2Doc Lending, a US-based lender focused on providing personal loans uniquely designed for medical professionals.
“We’re excited to be working with Doc2Doc, an innovative US lender with a strong commitment to serving the financial needs of healthcare professionals,” said Jamie Twiss, CEO of Carrington Labs. “Doc2Doc is a forward-thinking lender with strong capabilities, and working with them demonstrates the strength of the Carrington Labs product. It also marks a meaningful step forward in our international growth strategy.”
The engagement represents a further milestone in Carrington Labs’ international growth strategy, reinforcing its position in the United States market. As previously disclosed, the US is a priority jurisdiction for the Company given its scale, sophistication, and demand for modern, data-driven financial technologies.
Carrington Labs also believes that the addition of Doc2Doc to the roster of publicly disclosed clients and partners contributes to a significant shift in the market’s understanding of Carrington Labs, as the increasing volumes and levels of activity across a range of different client and product types demonstrate and reinforce the Company’s credibility and capabilities in credit-risk analytics and modeling.
Under the services agreement between Carrington Labs and Doc2Doc, Carrington Labs will provide its cash flow underwriting services to support Doc2Doc’s US lending operations. The engagement is structured as a standard software-as-a-service license with usage-based pricing.
As the overall financial impact will depend on a number of factors and may vary over time, it is not currently possible to estimate the financial impact.
