News: FactorTrust and Provenir Partner to Deliver Clients Faster Lending Solutions for the Underbanked

October 18, 2016

FactorTrust and Provenir Partner to Deliver Clients Faster Lending Solutions for the Underbanked

Integrated solution to be available at Money 20/20

ATLANTA (Oct. 18, 2016) – In advance of Money 20/20, the financial industry’s largest tradeshow, FactorTrust, The Alternative Credit Bureau, announces the integration of its database with risk analytics and decision solutions provider Provenir. The integration provides Provenir’s clients with exposure to a greater pool of creditworthy borrowers.

“Combining FactorTrust’s ability to accurately mine and score underbanked consumers with Provenir’s automated end-to-end risk analytics and decisioning platform provides lenders with an even quicker and more accurate and robust lending solution,” states Greg Rable, CEO of FactorTrust.

FactorTrust’s real-time database of more than 200 million loan transactions provides lenders with a holistic view of underbanked consumers’ creditworthiness and ability to repay loans. Though all lenders, including banks, benefit from FactorTrust’s data, it is especially valuable in the consumer lending, auto and rent-to-own industries.

“Our clients are frequently looking for reliable and accurate data sources as an alternative to traditional bureau, which integrate into the lending process simply,” says Paul Thomas, Provenir’s global head of sales and marketing. “By developing a relationship with FactorTrust, we’re providing a value-add for our clients which not only cuts down on the time associated with underwriting, but is also cost-efficient to implement.”

For more information on FactorTrust, please visit www.FactorTrust.com or contact FactorTrust at 1-866-910-8497.

About FactorTrust

FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. Nearly 113 million U.S. adults have non-prime scores. Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for nearly 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.

About Provenir

Provenir makes risk analytics faster and simpler for financial institutions. Our Provenir risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. We help clients process more applications with greater efficiency and increase sales conversions with instant, real-time risk decisioning, serving clients across a broad range of financial verticals
including consumer, commercial, cards, payments, ecommerce and auto financing. Provenir is headquartered in Parsippany, New Jersey with UK operations in London and Leeds. For more information please visit www.provenir.com.


Rapid Risk Decisioning for the Underbanked

Jointly hosted by FactorTrust and Provenir
Learn how your institution can integrate alternative credit sources into automated risk analytics and decisioning processes, providing instant credit decisions based on rich data.
Watch the webinar