Skip to main content

Author: Allison Karavos

AI in Fintech: Driving Innovation, Inclusion and Impact (in collaboration with Finovate)

Written by Allison Karavos on . Posted in Resource, Webinars. No Comments on AI in Fintech: Driving Innovation, Inclusion and Impact (in collaboration with Finovate)

ON-DEMAND WEBINAR

AI in Fintech:
Driving Innovation, Inclusion and Impact 

(in collaboration with Finovate)

Book a Meeting

Artificial intelligence is more than just the latest buzzword – using AI has a meaningful impact on decisions across the entire customer lifecycle. From improving fraud detection and decisioning accuracy to optimizing pricing and managing bias, AI has a key role to play in changing the way financial services products are developed and offered to customers.

In this panel discussion, we’ll cover how AI can:

  • Improve fraud detection and identify pre-delinquency patterns
  • Power financial inclusion with alternative data
  • Enable business growth with faster onboarding and optimized pricing for a personalized, superior customer experience
  • Expand your customer base without increasing your risk

Speakers:

  • Carol Hamilton

    Senior Vice President, Global Solutions, Provenir

  • Hakan Yilmaz

    EVP, Chief Data & Analytics Officer, Yapi Kredi

  • David Penn

    Research Analyst, Finovate

RESOURCES

Continue reading

Cloud Computing: A Brief History and Its Evolution

Written by Allison Karavos on . Posted in Blog. No Comments on Cloud Computing: A Brief History and Its Evolution

BLOG

Cloud Computing:
A Brief History and Its Evolution

Cloud computing has come a long way since its humble beginnings in mainframe computing several decades ago. It has evolved to become an integral part of modern-day technology, offering businesses and individuals unprecedented flexibility and accessibility to vast computing resources. In this blog, we’ll explore the history and evolution of cloud computing, and how it has paved the way for a new generation of cloud computing that promises even greater value and automation.

Cloud Computing’s Humble Beginnings

The concept of cloud computing is rooted in the mainframe computing era of the 1950s, where computer systems were massive and expensive to operate. It was during this time that virtualization, the precursor to cloud computing, was first introduced. Virtualization allowed multiple users to share a single mainframe computer, reducing costs and increasing efficiency.

Virtualization remained a niche technology until the advent of personal computers in the 1980s. With the rise of the internet in the 1990s, the concept of remotely accessing computing resources over a network began to take shape. However, it wasn’t until the 2000s that cloud computing as we know it today began to emerge.

Amazon Leads the Way

In 2006, Amazon launched Amazon Web Services (AWS), a cloud computing platform that allowed businesses and individuals to access computing resources over the internet. AWS was the first cloud platform to offer on-demand computing resources, allowing businesses to scale up or down as needed, without having to invest in expensive hardware or software. AWS quickly gained popularity, and other cloud providers, such as Microsoft and Google, followed suit. Today, cloud computing has become a ubiquitous technology, with businesses of all sizes using it to power their operations.

We’re already starting to see the emergence of the “super cloud” or “cloud +1,” which sits above the cloud, offering businesses a ready-to-go system. This new cloud architecture will need an easy-to-use visual front-end so that users can assemble cloud “building blocks” for a total solution.

The Financial Industry and Cloud Computing

The financial industry has traditionally been slow to adopt cloud technology. However, this is changing rapidly. In a Cloud Security Alliance survey last year, 61% of respondents admitted that a cloud strategy is only in the formative stages within their organization.

With the capabilities cloud computing offers, banks and other financial institutions can’t afford to ignore the cloud. By using cloud computing, they can do more with less and reduce high in-house IT costs.

Cloud computing has come a long way since its inception in the mainframe computing era. From its humble beginnings, it has evolved to become an integral part of modern-day technology, offering businesses and individuals unparalleled access to vast computing resources. As we look to the future, the next generation of cloud computing promises even greater.

Leverage the Cloud to Accelerate Application Delivery

Show me how

LATEST BLOGS

Continue reading

Navigating the Future: Unveiling the Keys to Successful Digital Transformation in Financial Services

Written by Allison Karavos on . Posted in Resource. No Comments on Navigating the Future: Unveiling the Keys to Successful Digital Transformation in Financial Services

ON-DEMAND WEBINAR

Navigating the Future:
Unveiling the Keys to Successful Digital Transformation in Financial Services

Book a Meeting

In the dynamic landscape of the financial services industry, digital transformation has become imperative for organisations seeking to thrive in the digital age. We explore the essential keys to achieving a successful digital transformation journey within the financial services sector.

Leading industry experts will delve into the intricacies of this transformative process, addressing key challenges and providing actionable insights to guide financial institutions towards a digitally empowered future.

Key takeaways from the live discussion: 

  • How digitalisation is impacting financial services and how these institutions are being fundamentally challenged to keep up in today’s increasingly digitally focused market
  • Strategies for aligning organisational goals with digital objectives to foster a culture of innovation
  • The importance of placing customers at the centre of digital transformation efforts
  • Learn how to leverage customer insights, data analytics, and personalised experiences to enhance overall satisfaction and loyalty
  • Gain insights into building a robust technological infrastructure that supports scalability, agility, and seamless integration
  • Discuss best practices for continuous monitoring, evaluation, and adaptation in the digital era

 Embark on a successful digital transformation journey, to ensure sustained growth and competitiveness in an ever-evolving landscape.

Speakers:

  • Peer Timo Andersen-Ulven

    Head of Analytics, Avida 

  • Keshnie July

    Credit Risk Practitioner

  • Jun Wai Des Lee

    Principal Consultant, Provenir

Moderator:

Adrian Pillay

VP-Sales, MEA & Turkey, Provenir

RESOURCES

Continue reading

Palenca

Written by Allison Karavos on . Posted in Partners. No Comments on Palenca

Partners

Palenca

The First API for Payroll Data in Latin America

Key Benefits

  • Make better underwriting decisions with payroll data. Palenca connects companies to user-permissioned employment data. Validate historical and real-time income data directly from user’s income and employment sources.
  • Easily validate identity and employment instantly. With Palenca, access your customers employment records with their credentials and their consent, helping reduce fraud and optimize your KYC process.

Palenca, the Rirst Payroll API for Latin America.

Palenca’s software strives to become the most widely integrated Payroll API system in all LATAM. Through integrations with gig-economy apps, HR, e-commerce, and government platforms, we can bring rich risk and income related user data to financial, insurance and recruiting firms in just a fragment of a second.

With Palenca’s tool, companies can provide background checks, check payroll data, and real time behavior analysis for their end-users. Through these, firms can reinforce their internal evaluation processes for hiring and underwriting credit as well as access payment retention for loans and direct-deposit-switching for accounts.

About Palenca

  • Services

    • Employment and identity verification
    • Income verification (historical & real-time)
    • Direct Deposit Switch
    • Automated payment collection settings for loan repayments

  • Regions Supported

    • Latin America

Continue reading

Leaning Into Innovation to Bring Newfound Speed and Accuracy to Credit Risk Modelling

Written by Allison Karavos on . Posted in News. No Comments on Leaning Into Innovation to Bring Newfound Speed and Accuracy to Credit Risk Modelling

NEWS

Leaning Into Innovation
to Bring Newfound Speed and Accuracy to Credit Risk Modelling

Leaning Into Innovation to Bring Newfound Speed and Accuracy to Credit Risk Modelling

To really level-up decisioning, organizations need more data, more automation, more sophisticated processes, more forward-looking predictions and greater speed-to-decisioning. And to this end, they need AI, machine learning, and alternative data.

In an article in Global Banking & Finance Review, Kim Minor, Senior Vice President, Global Marketing at Provenir, outlines the key findings of a survey which reveal a great state of uncertainty in credit risk modelling, underscoring the need for AI, machine learning, and alternative data.

Read the full article at Global Banking & Finance Review.

The Ultimate Guide to Decision Engines

What is a decision engine and how does it help your business processes?

Learn More

LATEST NEWS

Continue reading

Webinar: Tackling Industry Priorities With a Different Approach to Data and AI

Written by Allison Karavos on . Posted in Resource. No Comments on Webinar: Tackling Industry Priorities With a Different Approach to Data and AI

ON-DEMAND WEBINAR

Tackling Industry Priorities
With a Different Approach to Data and AI

Book a Meeting

Struggling with data integration and AI adoption?

There are vast amounts of data available to the financial services industry, yet many organizations struggle with data integration and AI adoption that delivers value to their customers. Join us as Carol Hamilton, Provenir’s Chief Product Officer, sits down with Holly Hughes, CMO of BAI, for a discussion on data and AI trends influencing the industry.

Discover:

  • How many providers plan to deliver a high level of responsiveness and superior customer experiences with new sources of data and the right predictive models
  • The ways simplified access to alternative and non-traditional data can reshape your business
  • How organizations of all sizes can accelerate AI/ML adoption while removing the typical barriers to implementation

Speakers:

  • Holly Hughes

    CMO, BAI

  • Carol Hamilton

    Chief Product Officer, Provenir

RESOURCES

Continue reading

Provenir Welcomes Bharath Vellore as General Manager for APAC

Written by Allison Karavos on . Posted in News. No Comments on Provenir Welcomes Bharath Vellore as General Manager for APAC

NEWS

Provenir Welcomes Bharath Vellore
as General Manager for APAC

Vellore brings more than 15 years’ experience growing markets in risk decisioning arena

PARSIPPANY, NJ–Mar. 29, 2022 – Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, announced today that Bharath Vellore has joined as the General Manager for APAC. In this role, Vellore will establish the strategy to expand Provenir’s presence in the region and oversee all business operations including sales, pre-sales, professional services, and customer success.

Vellore brings more than 15 years of experience working with Financial Services driving revenue growth, regional expansion and business development. Prior to joining Provenir, Vellore held leadership positions at LexisNexis Risk Solutions and Dow Jones.

“I am delighted that Bharath will be spearheading efforts to expand our footprint in APAC,” said Larry Smith, CEO and Founder. “With his industry knowledge and experience building new territories, we plan to quickly increase our engagement with the growing number of fintechs and innovative banks seeking access to industry-leading AI-powered risk decisioning software for real-time credit decisioning.”

“APAC is forecast to top 50 percent of Global GDP by 2040 accounting for 40 percent of the world’s total consumption. While this provides an incredible opportunity, there are numerous challenges in the region, including fraud, financial exclusion and disruptive changes in consumer behavior. This is driving lenders to implement new AI-enabled technology to minimize risk while serving a larger population of customers,” said Bharath. “I am excited to continue building upon Provenir’s existing presence and momentum to serve the region.”

Provenir’s AI-powered risk decisioning software is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience, users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

Connect with Bharath on Linkedin

Connect

LATEST NEWS

Continue reading

Interview: Fintech Finance News with Carol Hamilton

Written by Allison Karavos on . Posted in News. No Comments on Interview: Fintech Finance News with Carol Hamilton

NEWS

Interview:
Fintech Finance News with Carol Hamilton

AI-powered risk decisioning is about more than just more accurate decisions and better predictability. Implemented correctly, AI positively impact the entire credit risk lifecycle.

In this video interview, Carol Hamilton, SVP of Global Solutions at Provenir, provides insights on the current challenges and opportunities organizations are experiencing using AI, and how embedded AI helps organizations gain a holistic view across identity, fraud and credit risk for their customers along their entire journey.

Watch the video Fintech Finance News.

The Ultimate Guide to Decision Engines

What is a decision engine and how does it help your business processes?

Learn More

LATEST NEWS

Continue reading

TransUnion Selects Provenir to Deliver AI-Powered Risk Decisioning to Clients

Written by Allison Karavos on . Posted in News. No Comments on TransUnion Selects Provenir to Deliver AI-Powered Risk Decisioning to Clients

NEWS

TransUnion Selects Provenir
to Deliver AI-Powered Risk Decisioning to Clients

Provenir’s data-fueled and AI-driven decisioning platform improves accuracy and enhances customers’ experience

Parsippany, NJ — April 11, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced it has been selected to join TransUnion’s Strategic Alliance Distribution Program. Through this alliance, TransUnion clients will be able to take advantage of Provenir’s industry-leading platform to gain deeper insights from more data sources to power a new level of decisioning speed and accuracy.

The way consumers interact with financial services products is changing, rapidly – consumers expect instant decisions, personalized offers and automated, digital experiences. Meanwhile, fraud losses hit $56 billion in 2020 and fraud attacks are only getting more sophisticated and widespread. To address these challenges, financial organizations are increasingly seeking technology that provides flexibility, scalability, access to new data sources and self-learning models.

Provenir provides the answer with its industry-leading AI-Powered Decisioning Platform that uniquely combines universal access to data, including TransUnion’s world-class data, simplified AI and sophisticated decisioning technology. This provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle – with diverse data for deeper insights, auto-optimized decisions, and a continuous feedback loop for constant improvement.

“Provenir is a valued long-term business partner,” said Aaron Smith, TransUnion Vice President of Global Platform Partnerships. “Now our customers can leverage TransUnion data in more ways as it is integrated within the Provenir platform. Backed by a strong commitment to R&D and ongoing product development, Provenir offers the flexibility and scalability our clients say they need to respond quickly to changing market conditions and to support rapid growth.”

“We’re excited to expand our relationship with TransUnion and help clients of all sizes and complexity benefit from our AI-powered platform,” said Kathy Stares, Executive Vice President, North America for Provenir. “While organizations may understand the transformative power of AI-enabled risk decisioning, they often struggle with mounting the resources needed to develop, deploy and maintain AI initiatives. Our platform does this for them, eliminating high development costs and resources, enabling organizations to recognize ROI often within at little as 60 days.”

The Ultimate Guide to Decision Engines

What is a decision engine and how does it help your business processes?

Learn More

LATEST NEWS

Continue reading

TeleSign

Written by Allison Karavos on . Posted in Partners. No Comments on TeleSign

Partners

TeleSign

TeleSign Connects & Protects Digital Experiences Online

Key Benefits

  • Use Identity Data Sets to End the Tradeoff between Fraud and Growth. Fraudulent online accounts can be created at an alarming rate, resulting in spam, phishing attacks, promotion abuse, and other costly attacks. TeleSign helps you make smarter decisions about user risk with scores based on digital identities, traffic patterns, machine learning, and a global data consortium.
  • Faster, Safer, and Smarter Online Experiences. TeleSign’s PhoneID API helps you validate customers’ identities without adding friction by delivering real-time behavioral data, phone number intelligence, and mobile identity analytics based on the information you’re already collecting.

“TeleSign is a pioneer in digital identity and communications solutions for some of the most notable digital businesses in the world.”

Machine Learning in Action

Receive real-time actionable insights to measure users’ risk level and identify potential fraud before it happens – all with just a phone number.  

TeleSign Score returns a numerical risk assessment, fraud score reasoning, and recommendation. You determine your score threshold based on business needs and easily integrate it into existing account security workflows.  

As fraud evolves, so should your risk scoring.

About TeleSign

  • Services

    Score: Risk scoring tool assessing the reputation of phone numbers based on phone number attributes, traffic patterns, machine learning and two global fraud databases.

    PhoneID Standard: Basic phone number intelligence to identify which phone numbers can receive SMS messages and/or are a potential fraud risk. Cleans and reformats phone numbers as needed.

    PhoneID Contact: Phone number subscriber’s contact information to verify identities at registration, validate or identify name & address, and prevent fake customer information.

    PhoneID Contact Match: Contact match scores to validate an end-user’s first/last name and address during the onboarding process or high-value transactions against carrier subscriber contact data.

    PhoneID SIM Swap: Allows to understand if the SIM tied with the phone number has been swapped or not and, if so, when. TeleSign evaluates how likely it is that the SIM swap happened for a fraudulent reason using a scale from 1 to 4.

    PhoneID Subscriber Status: Identification of a user’s subscriber’s status to understand the strength of a subscriber’s identity or prevent unauthorized access to accounts: prepaid or postpaid phone number; active, suspended, deactivated; date of activation; length of account tenure.

    PhoneID Number Deactivation: Data intelligence indicating when a phone number has been deactivated, based on carriers’ phone number data and our proprietary analysis, delivers a date and time stamp.

    PhoneID Call Forwarding Detection: Details on the call forwarding status of a given phone number.

    PhoneID Porting Status: Allows to find out if a phone number was ported or not and what carrier the number is currently registered with.

    PhoneID Porting History: Allows to find out at what point and where a phone number was ported to, if ported within the last 90 days.

    PhoneID Live: Allows to understand if a phone number is still active, if it can be reached, and whether it is associated to a phone number that is roaming. If it is roaming, it allows to find out what country it is roaming in.

  • Regions Supported

    • Global

Continue reading