Dejan Ljevar, Author at Inovatec Systems
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British Columbia-based digital lending solutions company Inovatec announced today that it has integrated Carleton’s CarletonCalcs® modules within its JAVELIN Software Platform—a self-configurable, open API platform designed to eliminate barriers, expedite connectivity, and drive enterprise-wide workflow efficiencies.

CarletonCalcs® is a suite of computation software modules which enable software applications to
calculate payments, fees, taxes, and nearly all calculations required for every subset of the consumer
lending industry. CarletonCalcs® provides precise payments with vast configuration options that are
compliant with state maximum usury, Federal TILA disclosures including APR and MAPR, along with a
multitude of ancillary products.

The CarletonCalcs® components support Inovatec’s ability to tailor corresponding credit decisioning,
tolerance limits, and risk parameters with full auto-decisioning and scorecard capabilities for all of their lenders, dealers, and financial service providers utilizing the JAVELIN platform (formerly known as Compass). By partnering with Carleton, the leader in compliant financial calculations software, Inovatec is well-positioned to expand and bring their highly successful platform to the U.S. market after establishing themselves as a leader in the financial technology space in Canada.

With JAVELIN, customers have a flexible and intuitive platform that allows clients to simplify and align
workflows that are unique to the needs of their business as well as individual stakeholders—wherever they are located. Carleton and Inovatec mutually embrace client-centric principals and the synergy between their comprehensive suite of products, continued industry recognition, and market penetration provide evidence of the value and expertise both organizations provide to the lending industry.

“Our strategic partnership and integration with Carleton addressed a major need for us to ensure all of the features that have made Javelin successful in Canada became available to the US market,” said Vladimir Kovacevic, Founder & CEO of Inovatec, “The United States regulatory and compliance landscape is very different and more demanding than it is in Canada. Our partnership with Carleton provides the required assurance that our state and federal lending compliance parameters are driven by a company widely regarded as the best option for compliant payment, loan calculation, and validation APIs in the United States.”

“The consumer lending landscape continues to evolve towards innovative digital lending options through various channels with a streamlined process. Carleton and Inovatec both operate with a similar philosophy realizing that client success is always priority one,” said Matt Ruszkowski, President and COO of Carleton.

“That means, we need to provide an excellent product delivered with the latest technology, a quick and easy implementation, and include flexibility to configure multiple lending products anywhere within a client’s workflow,” continued Ruszkowski.

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BURNABY, BC (August 6, 2019) – I Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, showing 79.3% of C-Suite finance executives polled overwhelmingly reported their organization was most in need of Artificial Intelligence (AI) Integration in their automotive lending processes. 

Although it’s no surprise businesses are increasingly interested in automating processes and utilizing intelligence tools, respondents prioritized AI integration business transformation over cost reduction, process improvement, workflow management, product launch, digitalization and documentation needs. 

The survey revealed a glaring need for process automation for financial organizations, especially automotive lenders. Approximately 81% of lenders polled said they are not currently using an online digital origination channel that leverages process automation. However, most lenders (36%) said their current system struggles with operational issues and nearly half (43%) said compliance requirements are also the leading reason why they would consider a process management solution. 

When asked what specific challenges they faced in loan processing, 52.6% admitted the process was too complicated and required too many steps. Twenty-three percent said the process takes too long, and 27.4% said the system was not easy to navigate. 

Furthermore, Inovatec also surveyed a group of consumers who recently purchased or sold a vehicle and asked about their experience surrounding vehicle financing. Among the 125 consumers polled, 72% of sellers stated that once a buyer was interested, securing financing took the longest amount of time; followed by transfer of title or paperwork and price agreement. When asked what their biggest complaint was in financing their last vehicle, 59.2% said the process took a long time from start to finish, and another 21.4% said there were too many steps involved. 

“The survey sheds light on the fact that lenders and consumers both recognize the need for more efficient lending processes and procedures in the marketplace,” said Bryan Smith, VP Sales & Marketing at Inovatec. “It’s clear that artificial intelligence process integration is a top priority for lenders. The strategic implementation of AI and machine learning tools enables lenders to focus on improving the finance process for each individual customer in a more seamless and accurate fashion.” 

About Inovatec Systems Corp.

Inovatec Systems Corporation is an industry-leading provider of cloud-based software solutions for automotive and equipment financing institutions. The seamless platform is ideal for external partner and customer communications through a robust ecosystem that streamlines the process of crediting, auditing, funding and income verification for finance applications. For more information, please visit

Press Contacts:

Erica Olson
Merit Mile

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