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Author: Amy Sariego

FinTech Tools, Security Concerns Top of Mind for Gen-Z Banking

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NEWS

FinTech Tools, Security Concerns Top of Mind for Gen-Z Banking

Younger generations’ expectations of engaging or interacting with a bank or financial institution is very different from that of previous generations. These digital native consumers expect instant decisions, personalized offers, and automated, digital experiences. This requires

In this InformationWeek article, Kathy Stares, Executive Vice President, North America for Provenir, shares her thoughts on how banks and FIs can gain deeper insights by using more data sources, AI and machine learning to power a new level of decisioning speed and accuracy.

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10 Fintechs that are Transforming SME Lending

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Codat

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Partners

Codat

Make Faster, More Accurate SMB Credit Decisions

Key Benefits

  • Get smarter insights and a 360° view of your small business customers’ financial health. Assess enriches your customers’ real-time accounting, commerce, and banking data and surfaces intelligent insights you didn’t have before. Assess enriches your SMB customers’ data and produces actionable insights to help you underwrite better.
  • Say yes and launch new products faster. Simple and quick data sharing for business customers. SMB data in the right format, ready to be plugged into credit models. Access to real-time data with the ratios and metrics you need to launch new products faster.

“Accounting data is a critical part in making the best investment decisions for Clearco’s customers. Codat’s API allows us to quickly assess accuracy and risk while at the same time maintain our streamlined application process.”

BEN BRIDEAUX, DIRECTOR OF OPERATIONS AT CLEARCO

Codat is the Universal API for Small Business Data

Codat helps banks build deeper connections with business customers.

We offer products that make it easy to access, synchronize, and interpret data from customers’ financial software for specific use cases, such as onboarding suppliers to commercial card programs and underwriting business loans.

Codat is used by the largest banks in the world to grow share of wallet, reduce churn & scale their operations. We are backed by leading investors including JP Morgan, Canapi Ventures, Shopify, Plaid, Tiger Global, PayPal Ventures, Index Ventures, and American Express Ventures.

Resources

About Codat

  • Standardized Integrations

    Accounting API – Connect to your SMB customers’ accounting data

    Commerce API – Connect to your SMB customers’ commerce data

    Open Banking API – Connect to your SMB customers’ banking data

  • Automate Reconciliation

    Sync for Commerce – Embedded accounting integrations for PoS and eCommerce platforms

    Sync for Expenses – Embedded accounting integrations for corporate card providers

  • Regions Supported

    Global

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Infinian

Written by Amy Sariego on . Posted in Partners. No Comments on Infinian

Partners

Infinian

Infinian Vision – Credit Application Data

Key Benefits

  • Affordability, Vulnerability & Credit Risk. Use Infinian’s real-time market intelligence from millions of consumer credit interactions to find additional data points, identify high-risk individuals and set up early warning alerts to mitigate risk and comply with regulations.
  • Collections, Tracing & Fraud Prevention. Infinian’s unique dataset also helps firms with credit acquisition lifecycles and protects against losses. With comprehensive fraud prevention and detection solutions, Infinian insights power frontline financial crime prevention investigations. Infinian also provides tools that help firms improve and build unique, segmented collections strategies.

“Data from Infinian is unique to the market, and provides granular credit application data, which helps us perform appropriate due diligence checks that ensure our customers’ activity is affordable as well as fun.”

DAVID SMITH, MLRO & HEAD OF RISK AT BOYLESPORTS

Endless Data, Endless Insights

Infinian provides highly insightful data to the gaming sector, fintech companies and some of the largest global data businesses and credit bureaus.

Infinian Vision is a consumer-focused database informed by hundreds of data sources in real time. Unique and powerful, Vision is proven to be highly valuable to lenders, credit providers and data businesses to enhance the quality of their affordability, vulnerability and credit decisioning of their customer databases.

Infinian’s unique data insights are used across a wide range of industries and sectors allowing businesses to manage their data and track customer behavior effectively. Utilizing Europe’s largest marketplace for consumer credit applications, Infinian is uniquely positioned to assist businesses seeking to improve their decisioning systems, responsiveness and fraud detection.

Infinian services:

  • Lenders and Banks – Infinian helps major financial institutions manage their data and decisioning process
  • Risk and Fraud Agencies – Infinian data assists in identifying high-risk individuals and fraudulent activity
  • Debt Collections Agencies – Track missing customers, build new, segmented collections strategies and improve lines of customer communication
  • Gambling and Gaming Sector – Identify vulnerable customers and protect consumers in financial distress

About Infinian

  • Services

    • Vulnerability and Affordability Analytics
    • Affordability Risk
    • Collections and Tracing
    • Initial Vetting
    • Credit Risk Tools
    • High Risk Case Removal at Source
    • Identify Additional Information cases
    • Account Origination
    • Decline High Risk
    • Customer Limit Management
    • Assessment of Medium and High Risk Customers
    • Disposable Income Assessments
    • Identification of Financial Vulnerability Indicators
    • Replacement of Bureau Search Insights (quote search)
    • Fraud and Financial Crime Prevention
    • First Party Fraud Identification
    • Assess General Vulnerability
    • Macroeconomic Financial Trends

  • Countries Supported

    • United Kingdom
    • United States
    • Australia

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How can Fintechs Help the Developing World?

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NEWS

How can Fintechs Help
the Developing World?

During August, The Fintech Times, highlighted some of the amazing things fintechs are doing around the world. In this article, Provenir’s SVP of Global Solutions, Carol Hamilton, weighs in on how fintechs can help the developing world.

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Serving Gen Z Demands Alternative Data and AI to Foster More Inclusive Credit Decisioning

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NEWS

Serving Gen Z Demands
Alternative Data and AI to Foster More Inclusive Credit Decisioning

The most significant transfer of wealth in U.S. history is underway as Baby Boomers begin transitioning assets to younger generations. Over $70 trillion is in motion, underscoring the need for financial institutions to fully invest themselves in understanding the needs and preferences of younger consumers.

In this article, Kim Minor, SVP of Marketing for Provenir, shares insights on how alternative data and AI can help financial services providers reengineer their processes to be more inclusive of these younger clients with low or no financial history.

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Ten Companies Using Alternative Data for the Greater Good

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Provenir Named Finalist for US FinTech Awards 2022 for FinTech of the Year and Data Initiative of the Year

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NEWS

Provenir Named Finalist
for US FinTech Awards 2022 for FinTech of the Year and Data Initiative of the Year

The US FinTech Awards 2022 celebrate the fintech market, and the achievements and successes of the country’s best and brightest fintech companies, products, teams, and individuals

Parsippany, NJ — Sept. 6, 2022 — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced that it is a finalist in the “FinTech of the Year” category and “Data Initiative of the Year” category for the US FinTech Awards 2022.

Winners will be announced during a live streaming awards ceremony at 4 p.m. ET on Sept. 15. To register for the awards ceremony, please visit: User Registration – US FinTech Awards.

Now in its second year, the US FinTech Awards promises to be the benchmark by which financial services modernization and technological progress in the world’s premier financial services center are judged. The awards program is organized by FinTech Intel, the global market intelligence platform for financial services technology.

“Provenir is honored to be named a finalist for both ‘FinTech of the Year’ and ‘Data Initiative of the Year’, underscoring the significance of smarter, scalable risk decisioning that fintechs and financial services providers need to remain relevant and competitive,” said Kathy Stares, Executive Vice President, North America, at Provenir. “Provenir’s AI-Powered Decisioning Platform delivers a unique combination of data, decisioning and AI that provides the foundation for more accurate, automated risk decisions across the customer lifecycle – allowing organizations to stay focused on innovation and the customer experience.”

Provenir’s industry-leading AI-Powered Decisioning Platform is data-fueled and AI-driven for smarter risk decisioning. It is comprised of three essential components that enable financial institutions to rapidly overcome the challenges that hold them back – data integration, AI deployment and decisioning automation, all via a centralized, no-code platform.

The solution empowers fintechs and financial services organizations to unlock the true value of data, combining universal data access through the Provenir Marketplace with simplified AI and automated, real-time decisioning. With data more accessible and usable than before, financial institutions can automate complex decisions that drive world-class customer experiences, addressing identify, credit and fraud for quicker onboarding and serving.

Ten Companies Using Alternative Data for the Greater Good

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Machine learning – all a bit ‘Skynet’?

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BLOG

Machine learning –
all a bit ‘Skynet’?

Machine Learning – Revolutionizing Financial Risk Analysis and Decision-Making

While the concept of Machine Learning (ML) may conjure up images of a dystopian future where machines have taken over the world, much like Skynet in the Terminator movies, the reality is quite different. While Skynet may have been a malicious and all-powerful AI system, Machine Learning is simply a tool that can help us better understand and leverage data. So, while Skynet may have been the ultimate villain, Machine Learning is more like the trusty sidekick that helps us save the day.

Here’s how ML is rapidly becoming a game-changer in the field of financial risk analysis and decision-making:

The Power of Data

Machine learning enables businesses to gather and analyze data faster, thereby arriving at insights quicker. This is because the software program uses pattern recognition to build automatic analytical models, eliminating the need for human intervention.

Dynamic Fraud Detection

Machine learning algorithms can learn from a customer’s previous transactions and use them to identify patterns of behavior, allowing for dynamic fraud detection. This eliminates the inconvenience of manual validation processes while also increasing fraud detection rates, saving considerable costs.

Huge Cost Savings

According to analysis firm Oakhall, global financial services firms could save $12 billion annually through machine learning fraud management. This underscores the tremendous potential for risk analysis and decision-making with machine learning.

Harnessing Machine Learning for Predictive Analytics

To fully benefit from the predictive analytics power of machine learning, financial institutions need a fast, simple way to connect their machine learning application to their credit and lending decisioning processes.

Machine learning is revolutionizing the financial risk analysis and decision-making process. Its power lies in its ability to gather and analyze data faster, dynamically detect fraud, and save costs. By harnessing its predictive analytics capabilities, businesses can unlock its full potential for risk analysis.

A Geek’s Guide to Machine Learning (AI), Risk Analytics and Decisioning

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IBS Intelligence Podcast – AskIf

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NEWS

IBS Intelligence Podcast –
AskIf

According to The Rose Review, access to and awareness of funding was highlighted as the number one issue for female entrepreneurs. Women launch businesses with 53% less capital on average than men, are less aware of funding options and less likely to take on debt.

In honor of Women’s Equality Day celebrated on Aug 26th, Samantha Bamers, the Founder and CEO of micro-lending firm Ask Inclusive Finance (AskIf), discusses how far the financial services industry still needs to go to ensure equality and inclusion in lending.

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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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