NEWS

Bigbank’s digital transformation will reduce time to market, improve efficiency and customer centricity and support business growth

New York, NY – April 11 2016 – Provenir, provider of risk analytics and decisioning solutions, today announces that Bigbank has chosen the Provenir solution to overhaul its processing of credit and loans.

Estonian-owned Bigbank provides term deposits and consumer loans. It operates in the Baltics, Nordics, Germany, the Netherlands, Austria and Spain and is subject to a range of evolving regulation. To remain compliant, and to stay competitive as market conditions and customer expectations change, Bigbank makes updates to risk models and policies, which can take up to four weeks. Changes will be simpler and quicker with Provenir as they won’t
require IT development.

The Provenir cloud solution is ideal for rapid implementation where higher levels of automation are needed across multiple regions. The digital solution will also improve the capture and effective use of customer data so that Bigbank can continue to provide great customer service.

“At Bigbank we recognise investment in technology can help us achieve our goals of delighting customers and growing market share. Our digital transformation is enabling us to innovate and be more agile in our delivery and processes. This helps us achieve excellent time to market for product developments and provide great customer service,” said Agur Jõgi, Chief Technology Officer, Bigbank. “The Provenir solution is an important element in
this transformation. We’re pleased with how quickly we’ve been able to develop an end-to-end efficient workflow; the interface is so visual that it is simple to design effective, transparent business processes.”

The scalable risk analytics and decisioning Provenir platform will give Bigbank the scope to grow and develop the capabilities of its business processes over time.

Paul Thomas, Managing Director, Provenir said: “We’re excited to be working with Bigbank at this significant time in the implementation of its technology strategy. Bigbank’s customer centric approach recognises that meeting expectations means being nimble and easy to do business with, and for Bigbank this means efficient, automated, credit decisioning and loan origination.”

About Bigbank
Bigbank AS (www.bigbank.ee) is an Estonian-owned bank that specialises in consumer loans and term deposits. It has subsidiaries in Finland, Sweden, Latvia, Lithuania and Spain and also offers its products as a cross-border service in Austria, Germany and the Netherlands. The bank employs 423 people: 193 in Estonia, 87 in Latvia, 61 in Lithuania, 33 in Finland, 29 in Spain and 20 in Sweden.

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.

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

NEWS

Provenir will help leading Nordic bank speed up and simplify credit and lending

London, UK – 3 September 2015—Provenir, the risk decisioning solutions provider, today announces that Resurs Bank, a market leader for retail finance to private customers in the Nordic countries, has chosen Provenir to globally support its customer risk and decisioning processes.

Based in Sweden and expanding in the Nordic region, Resurs Bank is a recognised industry leader delivering customer centric services for sales finance, e-commerce finance, credit cards and personal loans. After a number of acquisitions and rapid growth the bank required a uniform credit approval process; one that would tap into information from several core systems. It also wanted to make best use of information held on customer behaviour and to support its online presence with efficient, digital back-office processes for a great customer experience.

“We found that Provenir outperformed their competitors in the areas where we sought excellence – time to market, functionality, flexibility and technology,” said Fredrik Ridaeus, Resurs Bank’s Nordic Credit Manager. “With the Provenir solution we will be able to consolidate the systems supporting credit decisions across our whole group onto one platform. We forecast significant growth in our transaction volumes in the future and Provenir, as best in class, is central to us achieving this growth.”

The Provenir platform provides a digital credit decision solution including credit scoring that Resurs Bank will use across all of its credit and lending products. Implementation has begun with the solution supporting products and services in Denmark, with further country roll-outs planned in support of Resurs Bank’s future growth.

Through an efficient, standardised process, Provenir’s solution will improve the quality of credit decisions. Resurs Bank will be able to quickly update credit policies as needed without recourse to IT support. Customer pre-selection targeting will be improved through the effective use of internal data. Cost overheads will also be reduced by virtue of the single platform across Resurs Bank’s businesses, enabling more rapid new market entry.

“We are very proud to be working with Resurs Bank, helping them achieve their business goals,” said Paul Thomas, Managing Director, Provenir. “Provenir is expert at introducing digital solutions for bank and non-bank lenders that help them streamline, automate and speed up credit decisions. This is a critical time as incumbent businesses look to evolve and become more customer-centric. Resurs Bank embraces these objectives; it has exciting growth plans and we’re delighted that through the Provenir solution and our experienced project team we will be a part of making that happen.”

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