R3 Score Expands Available Market and Ability to Accelerate Corporate Diversity, Equity and Inclusion Commitments
BALTIMORE MD, March 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Global Boatworks Holdings, Inc.(OTC: GBBT), ("Global" or "the Company") announces that its operating subsidiary R3 Score has successfully tested a new scoring feature for its AI-enabled, financial software platform which will enable its customers to assess individuals without criminal histories.
The testing has occurred over the last 6 months and today the Company is making available this unique scoring capability to those with thin credit files or where traditional tools are unable to assess them adequately. This new score enables the Company to expand its customer base to corporations seeking to meet 2021 Diversity, Equity, and Inclusion (DEI) goals in hiring and access to capital.
“We are committed to ensuring that qualified candidates of all backgrounds gain access to fair and affordable credit as well as employment opportunities which are often determined by someone’s past performance; often without any context to circumstance,” says President & CEO, Laurin Leonard. “Too many consumers are restricted by the traditional methodologies of assessing people who don’t fit the older more traditional models.
We believe our tools are more modern and take into consideration all the ways people live, work and exist in these ever-changing times. We are committed to improving financial outcomes for consumers while presenting businesses with more context to make informed decisions all while managing their risk.”
With a use case for both businesses and a direct offering to consumers, the Company is building strategic partnerships to help improve its pipeline to diverse but qualified consumers and talent. Additionally, the Company has several direct-to-consumer offerings in R&D. These offerings on both sides of the market speak to the estimated $189B in annual fees available by bringing millions of Americans into mainstream banking systems online.
“R3’s more contextualized reports enable the company to tap into a broader available market by using better data,” added Leonard. “The Company’s broader vision always included scoring individuals with thin credit or the credit invisible so this is an exciting feature to announce in early 2021.”
About Global Boatworks Holdings, Inc. and R3 Holdings, Inc.
Global completed a definitive Share Exchange Agreement with Baltimore, Maryland-based R3 Technologies, Inc. on September 23, 2020. R3 Holdings, Inc. is a SaaS company that provides a more contextualized criminal background report and alternative credit score for use by businesses of all sizes and in every industry.
R3’s AI-enabled, financial software platform uses proprietary data-driven scoring designed to unlock new valuable information about employees and financial services consumers utilizing a multi-factor algorithm based on 11 factors assessing character, capacity, and current choice.
This press release may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this presentation, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this presentation relating to the view of the management of R3 Score Technologies, Inc. (the “Company”) concerning its business strategy, future operating results, and liquidity and capital resources outlook.
Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward-looking statements.
They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you, therefore, against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
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