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Author: Amy Sariego

Powerlytics

Partners

Powerlytics

Zero-friction Income Solution Covering 100% of Households

Key Benefits

  • IRS based income verification, 100% confidence and coverage. Powerlytics True Income is a suite of Income Verification and Estimation solutions that covers all sources of income and is underpinned by the anonymized tax returns of 150M U.S. households and covering over 200M adults.
  • Zero-friction income solution streamlines loan decisioning. Based only on an individual’s ZIP+4 and covering 100% of U.S. households, Powerlytics True Income solutions can help streamline loan decisioning by providing highly accurate income estimates or scores against a loan applicant’s stated income.

Powerful Data, Smarter Decisions

Powerlytics delivers the most comprehensive, accurate and granular U.S. consumer and business financial data available, underpinned by tax returns. Lenders leverage the highly predictive data for improving marketing and risk outcomes and benefit from Powerlytics True Income, a suite of zero-friction Income Verification Confidence Scores and Estimation products that covers 100% of U.S. households. Based only on an individual’s ZIP+4, Powerlytics True Income solutions can help streamline loan origination decisioning and be used as a replacement for customer-stated income to expand proactive credit line increases. True Income is built by using anonymized tax filings. As a result, the OCC has reviewed the solution and allowed commercial usage for marketing, underwriting, and proactive credit line increases to allow lenders to get to yes without customer friction.

Resources

About Powerlytics

  • Services

    • Powerlytics True Income Solutions
    • Powerlytics Business Revenue Estimation
    • Consumer Loan Default Models
    • Business Loan Default Models
    • Consumer Targeting Models
    • Business Targeting Models
  • Countries Supported

    United States

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What’s BNPL and How Does it Help You?

NEWS

What’s BNPL and How Does it Help You?

In Asia Pacific, ecommerce sales are skyrocketing and are poised to reach a new milestone of $2 trillion by 2025, a testament to the growth of ecommerce platforms and the shifting consumer behavior from retail to online sales. Along with that, adoption of new payment options, such as BNPL, has quickly expanded. India’s BNPL market stands at $3 to $3.5 billion today but is expected to see a huge surge of up to $45 to $50 billion by 2026. In this article in The Times of India, Varun Bhalla, Country Manager of Provenir, India explains how BNPL can help drive financial inclusion and e-commerce convenience.

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15 Companies Changing the Landscape of Buy Now, Pay Later

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LATEST NEWS

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Provenir Named Finalist for Best Credit Risk Solution and Best Compliance & Regulatory Technology Solution in the Credit & Collections Technology Awards

NEWS

Provenir Named Finalist
for Best Credit Risk Solution and Best Compliance & Regulatory Technology Solution in the Credit & Collections Technology Awards

Provenir’s AI-Powered Decisioning Platform empowers organizations to unlock the true value of data, combining universal data access with simplified AI and automated, real-time decisioning

Parsippany, NJ — Oct. 18, 2022 — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced its finalist status in the “Credit Risk Solution” and “Compliance & Regulatory Technology Solution” categories for the Credit & Collections Technology Awards 2022.

Winners will be revealed Nov. 17 during an awards ceremony at the Midland Hotel in Manchester, United Kingdom.

Now in its sixth year, the Credit & Collections Technology Awards highlight the success of companies and individuals leading the way in enhancing credit and collections technology.

“It’s a tremendous honor to be named a finalist in both the Credit Risk Solution and Compliance & Regulatory Technology Solution categories, as it illustrates that financial services organizations see AI-enabled risk decisioning as key to improving credit risk profile accuracy, fraud prevention, regulatory compliance and financial inclusion, and achieving cost savings,” said Frode Berg, General Manager, Europe, at Provenir. “Provenir’s AI-Powered Decisioning platform empowers organizations to innovate further and faster than ever before, driving the continuous optimization they need to power growth and agility, without increasing risk.”

Provenir’s industry-leading AI-Powered Decisioning Platform enables financial institutions to rapidly overcome the challenges that hold them back – data integration, AI deployment and decisioning automation. With data more accessible and usable than before, financial institutions can automate complex decisions that drive world class customer experiences, addressing identity, credit and fraud for quicker onboarding and serving.

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The History of Credit Scores: Infographic

INFOGRAPHIC

The History of Credit Scores

The term ‘credit score’ is often thrown around when it comes to financial services and products, but what does it really mean?

There’s a lot to know about how credit scores impact the way the average person goes about their day-to-day life. Whether you’re signing up for your first credit card or looking to apply for a mortgage, your credit score plays a huge role in determining whether you’ll be able to achieve some of your financial goals. 

Something just as important – and a term as equally thrown around – is a credit report. Your credit report determines how much interest you’ll have to pay back on loans, credit cards, and mortgages and whether you’ll be approved for them in the first place. 

Credit scores and reports as we know them have only been around for a few decades but are part of a long history of merchants, lenders, and decision engines. Here, Provenir explores when credit scores were invented, how they’re calculated, and how consumer credit reporting works, so you can know more about your money. 

Read on for your no-nonsense guide to all things credit.

When were credit scores invented and how does credit scoring work?

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Buy Now, Pay Later: Automated Decisioning Technology for a Frictionless Customer Experience

ON-DEMAND WEBINAR

Buy Now, Pay Later:
Automated Decisioning Technology for a Frictionless Customer Experience

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The Buy Now, Pay Later market continues to grow and diversify. New providers are still emerging, partnerships between fintechs and larger, traditional banking institutions are solidifying – and consumers are getting more and more demanding. Sixty percent of customers abandon applications for unsecured lending products during digital onboarding, due to slow or complex application processes and a lack of(real or perceived) security. Whether you’re a new entrant to the market or a seasoned BNPL provider, providing a frictionless customer experience is critical to maintaining your competitive advantage. But how can you stay ahead of the competition and still effectively manage your risk?

Key Highlights:

  • Why a unified platform for data, AI and decisioning can help you analyze and action your data (including decisioning performance data, credit risk, fraud and compliance) for flexibility and scalability throughout the entire customer lifecycle
  • How easily accessing a variety of data sources(including alternative data) via a single API, offers a more holistic view of your customers, and encourages financial inclusion
  • The importance of automated decisioning for real-time approvals and a frictionless customer experience
  • How to develop, deploy and adapt sophisticated risk models without heavy reliance on your vendors/partners – getting you to market faster than your competition


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Mistho

Partners

Mistho

Mistho – Open Payroll API

Key Benefits

  • Collect 100% verified payroll and employment information including original documents. With Mistho your end-users will be able to share their income and employment information with you straight from their employer’s HR and payroll system. No more risk of fraud, no more unreliable manual uploads.
  • Build fully digital customer journeys and improve conversion. With Mistho, you can turn long verification processes into seconds and all within your existing digital flows via our SDK, allowing you to better qualify leads and convert those that matter.

“With Mistho, we can turn verification processes that sometimes take days waiting for manual responses from individuals or their employers into seconds.”

ANONYMOUS

Mistho – Open Payroll Connectivity for Europe

Mistho offers the first open payroll API for Europe that enables consumers to easily access and securely share their employment and payroll data with counterparties such as banks, insurers and lenders at the click of a button.

Our goal is to build the backend infrastructure for sharing payroll information and to help businesses offer the best consumer experience across the Fintech industry. We allow businesses to easily integrate the Mistho flow seamlessly into their existing customer journeys to verify end-user income without disrupting the user experience.

Using the Mistho API, customers can improve conversion rates, time in underwriting, reduce fraud and significantly reduce manual verification costs.

Resources

About Mistho

  • Services

    • Income Verification
    • Employment Verification
    • Manual upload and OCR for payslips
  • Regions Supported

    United Kingdom

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Provenir for Collections

DATA SHEET

Provenir for Collections

Faster strategy deployment. Reduced losses. Improved customer relationships.

Take your collections management to the next level with Provenir’s AI-Powered Decisioning Platform. Your collections success relies on using the right treatment strategy at exactly the right time – and with Provenir at the center of your customer relationship management ecosystem, you’ll have the power to use all your customer data with advanced analytics tools, including AI/ML, to fully optimize your collection strategy.

The Ultimate Guide to Decision Engines

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

Read the Blog

RESOURCE LIBRARY

AI Sharpens Focus On Member Needs
News ::

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Consumer Duty Could Lead to Stricter Lending Criteria
News ::

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

Partners

CRiskCo

CRiskCo – Open Accounting API

Key Benefits

  • Single API to gain Financial & Accounting aggregate data. Automated financial spreading including calculating key financial ratios (DSO, Quick Ratio, Debt Ratio), with 60 seconds of client onboarding time and real-time financial alerts.
  • Increasing financial visibility and lowering risk exposure. Enabling SMBs and professional credit providers to better evaluate the credibility of their business customers, detect fraud and prevent future credit failures.

“CRiskCo enables us to leverage off additional financial data, streamline our processes and make faster decisions, resulting in better outcomes for our clients and us.”

CEO, BUSINESS FUEL

Single API to Gain Financial and Accounting Data

CRiskCo platform aids the customer by providing automated financial insights, credit reports, and ongoing monitoring, measuring, and alerting on their clients’ financial health.

CRiskCo collects financial data straight from the source, from the accounting systems of the business or alternative resources (e.g. SAT in Mexico). Based on the client’s customer journey and requirements, data can be collected from one or more resources. CRiskCo then standardizes the data and runs predictive analytics to generate a real-time risk score and financial health alerts.

The ease of use, the standardized reporting and advanced Risk report assist our clients in evaluating commercial credit applications and monitoring the financial health of customers throughout the trade credit life cycle.

Resources

About CRiskCo

  • Services

    CRiskCo Approve

  • Countries Supported

    • Mexico
    • United States
    • Australia
    • United Kingdom
    • Israel

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