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Dun & Bradstreet Partners With Provenir To Deliver Next Generation Risk Decisioning Solutions

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Dun & Bradstreet Partners With Provenir To Deliver Next Generation Risk Decisioning Solutions

Dun & Bradstreet, pioneering Smart Data to enable customers to make smart decisions, announces a partnership with Provenir, a provider of global real-time, risk decisioning solutions. The collaboration paves the way for innovative, real-time risk decisioning services for European businesses.

In search of growth and cost efficiency, companies in Europe seek solutions to optimize their credit risk processes. Agile solutions that can respond quickly to rapid and on-going business and regulatory changes are vital. Dun & Bradstreet has a long history in delivering decision-making platforms to help businesses automate processes and make data-driven decisions. The partnership with Provenir empowers the next generation of solutions, using the Provenir Risk Analytics and Decisioning Platform.

“We are committed to providing the best information management, data analytics and risk solutions to our clients,” said Anders Borg, Chief Strategy Officer of Dun & Bradstreet. Borg continues, “The Dun & Bradstreet partnership with Provenir is a strategic initiative which will enable us to build more flexible, scalable and integrated solutions. This will provide business users the ability to create, change and implement data sources, business rules and risk models within minutes. It is the latest example of how we at Dun & Bradstreet are committed to providing an improved customer experience with automated risk decisioning.”

Provenir helps companies implement innovative business processes which improve customer experience and accelerate time to market.  The Provenir solution simplifies the collection and enrichment of structured and unstructured data, enabling data and risk analytics to be performed in real-time.

“We’re very excited to partner with Dun & Bradstreet and support their plans for automated risk decisions and analytics within their portfolio of client offerings,” said Paul Thomas, Managing Director, Provenir. “Provenir’s risk decisioning platform is model, data and technology agnostic, making it highly flexible for Dun & Bradstreet’s purposes. We’re looking forward to working together to deliver great solutions to Dun & Bradstreet’s customer base.”

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.

About Dun & Bradstreet

Dun & Bradstreet is a leading European Data & Analytics company. We help companies to find and manage their customers throughout the customer lifecycle. We do that by pioneering Smart Data to enable our customers to make Smart Decisions. We employ 2,400 people in 18 countries and are headquartered in Stockholm, Sweden.

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FactorTrust and Provenir Partner to Deliver Clients Faster Lending Solutions for the Underbanked

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FactorTrust and Provenir Partner to Deliver Clients Faster Lending Solutions for the Underbanked

Integrated solution to be available at Money 20/20

ATLANTA (Oct. 18, 2016) – In advance of Money 20/20, the financial industry’s largest tradeshow, FactorTrust, The Alternative Credit Bureau, announces the integration of its database with risk analytics and decision solutions provider Provenir. The integration provides Provenir’s clients with exposure to a greater pool of creditworthy borrowers.

“Combining FactorTrust’s ability to accurately mine and score underbanked consumers with Provenir’s automated end-to-end risk analytics and decisioning platform provides lenders with an even quicker and more accurate and robust lending solution,” states Greg Rable, CEO of FactorTrust.

FactorTrust’s real-time database of more than 200 million loan transactions provides lenders with a holistic view of underbanked consumers’ creditworthiness and ability to repay loans. Though all lenders, including banks, benefit from FactorTrust’s data, it is especially valuable in the consumer lending, auto and rent-to-own industries.

“Our clients are frequently looking for reliable and accurate data sources as an alternative to traditional bureau, which integrate into the lending process simply,” says Paul Thomas, Provenir’s global head of sales and marketing. “By developing a relationship with FactorTrust, we’re providing a value-add for our clients which not only cuts down on the time associated with underwriting, but is also cost-efficient to implement.”

For more information on FactorTrust, please visit www.FactorTrust.com or contact FactorTrust at 1-866-910-8497.

About FactorTrust

FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. Nearly 113 million U.S. adults have non-prime scores. Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for nearly 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.

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.

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Rent-A-Center Adopts Provenir Cloud

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Rent-A-Center Adopts Provenir Cloud

Intelligent Risk Analytics and Decisioning Solution provides scalability to high growth company

New York, NY – September 13, 2016 – Provenir, provider of risk analytics and decisioning solutions, today announces that rent-to-own industry leader Rent-A-Center, Inc. has adopted Provenir’s hosted solution, Provenir Cloud, to support the processing of customer applications for lease purchase agreements in connection with its AcceptanceNow line of business.

“Provenir’s risk analytics and decisioning platform’s scalability and rich functionality provide significant value to Rent-A-Center’s growth plans and transformation,” said Mark Denman, EVP of AcceptanceNow at Rent-A-Center. “By implementing Provenir Cloud to process customer lease applications, we will increase speed, improve delivery and provide our customers better, faster access to our products and services.”

The Provenir solution will sit in the heart of RAC’s processing workflow, acting as an orchestrating hub and connecting internal and external data with various rules and risk models.

“Provenir is committed to providing Rent-A-Center with a flexible, secure and scalable environment that ensures simplified maintenance for the users so that they can continue to deliver value to their customers while pursuing their growth strategy,” said Paul Thomas, Managing Director at Provenir.

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.

About Rent-A-Center, Inc.

A rent-to-own industry leader, Plano, TX-based, Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, and smartphones, under flexible rental purchase agreements with no long-term obligation. The Company owns and operates approximately 2,600 stores in the United States, Mexico, Canada and Puerto Rico, and approximately 1,915 Acceptance Now locations in the United States and Puerto Rico. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 225 rent-to-own stores operating under the trade names of “Rent-A-Center,” “ColorTyme,” and “RimTyme.” For additional information about the Company, please visit our website at www.rentacenter.com.

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Happy 50th Birthday Barclaycard: Is It Now Time To Retire?

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Happy 50th Birthday Barclaycard:
Is It Now Time To Retire?

Barclaycard, the UK’s first credit card, hits a major milestone today as it celebrates its 50thbirthday.

It was on this day back in 1966 when the very first Barclaycard was dispatched. By the end of that year, some 1.25 million Brits had received one through their letterboxes. While not all of these people went on to make a purchase using their card, for many, this plastic rectangle was a liberating addition to their wallets and purses.

Just like with Bank of America’s Americard launch in 1958 (which was later rebranded as Visa), Barclaycard kick-started the democratization of the UK lending industry. For example, women no longer needed a male guarantor to get credit, while paying for meals out and shopping became quicker and easier for consumers and merchants alike.

With credit limits of no more than £100 and just one month to pay back the money borrowed, this was by no means an overnight credit revolution, but the launch of the UK’s first credit card did set the wheels in motion for what today has become an enormous industry. Indeed, in November 2015, some 60 million credit cards were in circulation in the UK.

But at the grand old age of 50, will it soon be time for Barclaycard (and the many other credit cards now on offer) to reach for the pipe and slippers?

This isn’t likely to happen anytime soon. The credit card industry is doing a pretty decent job of developing and adopting new technology to streamline its processes and make credit even more accessible to customers. Contactless technology, mobile payments and wearables, improved security, as well as the use of Big Data in order to make swift, accurate credit decisions, are all colliding to make today’s credit card payment process simple, quick and hassle-free.

But despite all this innovation, don’t expect credit card providers to have it all their own way in the future.  The emergence of P2P lending, online payment services, payday loans and pre-paid cards (to name just a few) means that today’s consumers and small businesses are faced with considerably more choice and control over how and when they access credit.

It is this increased market competition that will ensure that the democratization of credit – a process that started in the UK 50 years ago today – will continue to evolve.

You can learn more about how Barclaycard fits into the history of lending on our infographic.

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Provenir is Now Integrated with Salesforce

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Provenir is Now Integrated with Salesforce

Provenir is now integrated with Salesforce
Platform providing a risk analytics and decisioning orchestration hub to banks and fintech disruptors adds Salesforce integration

New York, NY – May 5 2016 – Provenir, provider of risk analytics and decisioning solutions, today announces the integration of its platform with Salesforce to improve the execution of complex credit decisioning processes with increased transparency across platforms. Companies that use Salesforce for customer relationship management (CRM) can now connect to Provenir’s platform to run automated risk analytics and decisioning for credit and loan applications, as well as mobile payments and e-commerce transactions — all from within their Salesforce environments.

Slow, inefficient manual processes hamper risk analytics and decisioning processes. Banks, card issuers and even fintech disruptors spend hours performing credit checks, risk scoring and due diligence processes on legacy systems. Not only does this make the process more complex, it often requires the duplication of customer data, which is both time consuming and error prone. Through this integration, Provenir’s risk platform interacts directly with Salesforce for a real-time and seamless risk analytics and decisioning processing experience that utilises a single data set.

“To manage the full credit and risk lifecycle, companies need to integrate with service bureaus, internal and external databases, risk models and CRM systems. At Provenir, we provide an orchestration hub that is truly agnostic to any technology, database, data service or risk model. With that, we can help clients automate and move towards instantaneous risk decisioning and provide a real-time experience to their customers,” said Paul Thomas, Managing Director, Provenir.

Salesforce and others are among the trademarks of salesforce.com, inc.

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.

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Money20/20 Europe – a breath of fresh air

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Money20/20 Europe –
a breath of fresh air

The arrival of Money20/20 in Copenhagen brought a breath of fresh air to the European conference circuit. The high-energy, well-structured event generated a bright atmosphere for conversation and collaboration – and not just because business in the networking area was conducted in colourful sheds. Notable by their absence were customers, but industry players were out in force and a recurring topic of conversation was how today’s banks and financial institutions can add immediacy to their processes.

The fact that customers have taken to services like Amazon 1-Click, Twitter and Alipay suggests that immediacy is what they want.

To deliver it, banks and FIs need to be digital and online. That’s a minimum, but it isn’t enough. They also need decision-making that supports immediacy. Manual, complex risk analytics and decisioning is clunky and slow. Automated, streamlined processes returning a rapid ‘yes’ or an immediate ‘no’ credit or loan decision are what’s needed.

People share information online constantly; and it’s resulted in new forms of data. The complete view of a prospective customer no longer resides only in bank statements and spreadsheets. It’s also in online reviews and online behaviour.

If a consumer wants to know if a company is reliable and provides value for money, they’ll look at review sites and read what people have written about them on Twitter. Why wouldn’t the same information form part of risk decisions taken by finance and payments providers?

Inspiring speakers at the event included BBVA’s CEO Carlos Torres Vila and Sebastian Siemiatkowski, CEO and co-founder of innovative e-commerce company Klarna, which is changing the way people pay for goods online. Ricky Knox, co-founder of digital-only bank Tandem talked about how their approach is reimagining the bank as we know it.

It was a successful start in Europe for the Money 20/20 brand. We look forward to October and Las Vegas.

Learn how Klarna was able to increase agility with credit risk analytics.

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Bigbank Selects the Provenir Cloud to Automate its Credit and Loan Processes

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Bigbank Selects the Provenir Cloud to Automate its Credit and Loan Processes

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.

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