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Author: Amy Sariego

FCA’s Consumer Duty Comes into Force: What Should Lenders Expect?

NEWS

FCA’s Consumer Duty Comes into Force:
What Should Lenders Expect?

The Financial Conduct Authority’s Consumer Duty has come into force, requiring firms to be open and honest, avoid harm, and support consumers to pursue their financial goals. The new rules for financial services firms in the United Kingdom set a higher standard of consumer protection, including better support, communications, as well as products and services that meet consumers’ needs and offer fair value.

The Finance Feeds tapped two industry experts from Provenir – Chris Kneen, Managing Director, UK & Ireland, and Frode Berg, Managing Director, Europe – for their insights on this regulatory milestone.

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The Ultimate Guide to Decision Engines

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Achieving Frictionless Fraud Prevention: Striking the Perfect Balance of Risk & User Experience

ON-DEMAND WEBINAR

Achieving Frictionless Fraud Prevention:
Striking the Perfect Balance of Risk & User Experience

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In today’s digital landscape, any form of friction can deter quality customers, while a lack of it can attract fraudsters. To maintain a competitive edge, businesses need to find the ideal line that ensures a seamless experience for genuine customers while effectively protecting against fraudulent activities. 

In this session, industry leaders Provenir and Socure will discuss:

  • The core principles of frictionless fraud prevention
  • Valuable insights and practical strategies to help you navigate challenges.
  • How advanced technologies and data analytics can be leveraged to assess risks in real-time.
  • Through engaging case studies and success stories, gain inspiration and actionable takeaways to build a robust fraud prevention strategy that safeguards your business while creating a seamless experience for your customers


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AI Sharpens Focus On Member Needs

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AI Sharpens Focus On Member Needs

Deploying technology to meet members’ needs these days—wherever they are in their financial services journey—increasingly means leaning into artificial intelligence and predictive analytics. But taking the AI bull by the horns isn’t the right approach for every credit union so how and where is AI best utilized by credit unions? 

In this Credit Union Management article, Michael Fife, SVP at Provenir, shares four use cases to help credit unions determine where and when AI is best inserted in their tech stack.

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The Ultimate Guide to Decision Engines

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

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Consumer Duty Could Lead to Stricter Lending Criteria

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Consumer Duty Could Lead to Stricter Lending Criteria

Lenders in the UK’s must now comply with the new Consumer Duty which sets higher and clearer standards of consumer protection. In this Peer2Peer Finance News article, Frode Berg, Managing Director for Europe at Provenir, shares his thoughts on the impact on lenders’ risk assessment processes as well as the types of products and services available in the lending sector.

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The Ultimate Guide to Decision Engines

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Automotive Financing Provider GoFi Selects Provenir’s Data and Decisioning Platform

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Automotive Financing Provider GoFi
Selects Provenir’s Data and Decisioning Platform

GoFi will benefit from Provenir’s powerful platform to support immediate responsiveness and the best customer experience

Parsippany, NJ —August 2, 2023 — Provenir, a global leader in risk decisioning software, announced today that GoFi, LLC, a leading U.S. consumer automotive financing provider, has selected and implemented Provenir’s Data and Decisioning Platform to assess applicant credit risk quickly for real-time financing approvals.

GoFi, LLC is an AI-centric, digital-first lending platform. Built on a proprietary loan origination system and powered by its integrated machine learning algorithms, GoFi provides auto-decisioned responses across the full credit spectrum. Through simple, intuitive offers, GoFi aims to help partners expand their brand impact and deliver a better customer experience.

“We selected Provenir for several reasons, most importantly, for the platform’s flexibility and customization options. It also allows us to quickly and easily integrate with many different platforms which will allow our business users to take the reins,” said Daniel Garland, Senior Director, GoFi. “We have been able to implement a fully customizable solution that meets our business needs with the vast majority of the implementation being done by our business users.”

“We are pleased to partner with GoFi to power the real-time risk decisioning needed to provide the very best customer experience,” said Kathy Stares, Executive Vice President, North America for Provenir. “From global car manufacturers to independent auto lenders, Provenir empowers auto financing providers of all sizes to make accurate decisions faster while minimizing risk and preventing fraud. Provenir’s data and decisioning capabilities enable our auto financing clients to respond on-the-fly to changing market dynamics and deliver real-time insights to inform smarter decisions.”

The Ultimate Guide to Decision Engines

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

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TDS Mini: Want to Launch AI/ML? You Need a Data Detox

PODCAST

TDS Mini:
Want to Launch AI/ML? You Need a Data Detox

AI, banks vs fintechs, alternative data – how do all of these hot topics fit together?

Get the whole picture with a quick, insightful look at emerging technology and the future of fintech with Provenir’s Chief Product Officer, Carol Hamilton, and Finovate’s VP and Director of Fintech Strategy, Greg Palmer.

Listen to the full fireside chat here.

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Tune into our Podcast on Apple or Spotify by clicking the icons below.

Apple Podcast

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Featuring:

Carol Hamilton, Chief Product Officer, Provenir

Greg Palmer, VP and Director of Fintech Strategy, The Finovate Group


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Online Retailers Using Embedded Finance With Provenir: J.D. Power, TreviPay, Valuedynamx and Galileo

NEWS

Online Retailers Using Embedded Finance With Provenir:
J.D. Power, TreviPay, Valuedynamx and Galileo

EY estimates that the market size of global embedded finance will grow from $264 billion in 2021 to $606 billion as early as 2025. With the space set to dramatically disrupt the financial sector worldwide, The Fintech Times spoke to industry experts, including Kathy Stares, Executive Vice President, North America for Provenir, to understand the benefits of embedded finance for online retailers. Check out what Kathy and her industry peers had to say.

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The Ultimate Guide to Decision Engines

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TDS Mini: Level Up Your Digital Lending (In Under 10 Minutes)

PODCAST

TDS Mini:
Level Up Your Digital Lending (In Under 10 Minutes)

Want to learn how to provide frictionless lending experiences while boosting risk mitigation in under 10 minutes?

Then this TDS Mini is for you! Listen in on highlights from a discussion between lending experts from Provenir, SEON, DivideBuy, and ID Finance for real-world strategies and lessons on leveling up your digital lending. 

Listen to the full conversation here.

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Tune into our Podcast on Apple or Spotify by clicking the icons below.

Apple Podcast

Spotify Podcast

Featuring:

  • Corinne Lleti

    GM, Southern Europe
    Provenir

  • Gergő Varga

    Product Evangelist
    SEON

  • Teresa Byrne

    CCO
    DivideBuy

  • Evgenia Ageykina

    CRO, Spain
    ID Finance


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Breaking the Cycle of Lending woes for SMEs

NEWS

Breaking the Cycle
of Lending woes for SMEs

According to a recent survey conducted by the United Nations Development Programme (UNDP) on the impact of Covid-19 on MSMEs in the Philippines, nearly 36% of the Philippines’ GDP is generated by small and medium-sized enterprises, with 63% of the workforce being employed by these businesses.

Yet, these businesses continue to face constraints in formal credit accessibility.

In this article from The Manila Times, Bharath Vellore, General Manager, APAC, Provenir, discusses the progress in bridging the Philippine SME credit gap both from sides of the private sector and government, and how else stakeholders can do more to facilitate  ease and inclusion for MSME lending.  

The Ultimate Guide to Decision Engines

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Super Apps Success with FintechOS, Wildfire Systems, Provenir, Agent IQ and Yoosr

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Super Apps Success
with FintechOS, Wildfire Systems, Provenir, Agent IQ and Yoosr

EY estimates that the market size of global embedded finance will grow from $265 billion in 2021 to $606 billion as early as 2025. Super apps are one specific area that looks ready to explode worldwide. The Fintech Times asked experts, including Frode Berg, Managing Director of Europe for Provenir, what factors have driven the success of super apps already. Frode shares his perspective on how super apps can expand economic opportunities and possibilities on several levels while transforming the user experience.

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The Ultimate Guide to Decision Engines

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

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