Credit Risk Analytics and Decisioning in Seconds

Customers / Lewis

"Migrating to Provenir made a big difference for us and we are now left with a flexible, understandable, maintainable and cost effective credit system."

Willie Van Zyl, Senior Solutions Analyst

Consumer Credit the Lewis Journey

Key Benefits

  • Increased business agility by replacing an inflexible solution with the Provenir Risk Analytics and Decisioning Platform.
  • Cut time and costs by eliminating the need for third-party development.
  • Delivers a better customer experience with credit risk analytics and decisioning in 30 seconds and a simplified underwriting interface.
  • Reduces risk and increases sales opportunities by automatically evaluating existing customer performance monthly.
  • Quickly and easily integrates with multiple databases, systems and credit bureaus.
  • Promotes business-IT collaboration with visual, easy-to-use configuration capabilities.

Business Issue

When it came time to replace its existing credit decisioning solution, Lewis Group did not want another “black box” solution that required engaging with third-party vendors every time a change was needed. Lewis sought an agile solution for risk decisioning during customer acquisition and maintenance that could respond quickly to rapid and on-going business and regulatory changes and would satisfy the requirements of both IT and business users.

Lewis uses MYSQL, MSSQL Server and SYBASE as database engines and SAS for analytics. They integrate with the TransUnion credit bureau and are developing links to Experian and Compuscan. The new solution had to enable rapid integration with these and any other database or system without spending weeks on development.

Why Provenir

After evaluating several vendors, including Experian and Fair Isaac, Lewis chose the Provenir Risk Analytics and Decisioning Platform to replace Transact, which it had used for 14 years. The company selected Provenir because it is “a proper business tool”. With Provenir, Lewis can design, implement and maintain credit decisioning solutions internally, eliminating the time and costs for an outside vendor. Lewis recognized the platform is designed for ease-of-use by IT, who maintains the technical solution infrastructure, and business users who maintain the credit policies, scorecards and the like.

The Solution

The platform has substantially cut the time required to implement and change decisioning policies. “Provenir’s built-in repository and change management system makes entertaining such requests almost a pleasure,” says Willie Van Zyl, Senior Solutions Analyst at Lewis. For example, it took less than half a day to integrate a new SAS dataset and retrieve an indicator used to print a special promotional message on a customer’s statement. Previously, such a change would have taken more than a week and costs would have outweighed the benefit.

In stores, the Provenir platform enables the majority of application credit decisions to be made in less than 30 seconds once the required information is captured. Borderline applications are automatically referred to underwriters for further analysis. The credit maintenance solution aggregates data and automatically evaluates each customer’s credit performance, enabling Lewis to quickly identify at-risk customers as well as additional opportunities to extend credit.

The previous system, maintained by a third party, left business users frustrated because implementing new requirements was slow, tedious and costly. Migrating to the Provenir Risk Analytics and Decisioning Platform has provided Lewis Group with the flexible, understandable, maintainable and cost-effective credit system they need to grow their business and manage change.

f3d460e6-5c35-48ac-a8fe-9c1a9df2419c