Adiante Recebíveis gains agility, flexibility and efficiency in risk decisioning with Provenir’s AI Solution
Adiante Recebíveis is a credit fintech created in 2018 and part of the GCB Group. Operating in the Brazilian financial scenario, it helps companies of all sizes to anticipate receivables and optimize their accounts receivable.Specifically, it serves companies involved in installment sales that need immediate cash, without resorting to loans.
Discover how Provenir’s Decisioning Platform can transform your business.
Credit Journey Optimization with AI: Jeitto Doubles Portfolio and Reduces Default with Provenir Technology
Jeitto is a digital credit and services platform aimed at people who do a lot with little, granting financial resources in an uncomplicated, fast and secure manner to more than 9 million customers. Jeitto is headquartered in São Paulo, Brazil and was founded in 2014.
Discover how Provenir’s Decisioning Platform can transform your business.
Optimizing Collections with Advanced Decisioning Solutions
The ability to efficiently manage the collections process is critical to maintaining profitability and customer relationships. But credit recovery remains a challenge for companies in North America. With regulatory scrutiny, rising credit losses, and customer expectations evolving rapidly, traditional collections methods fall short. Financial services providers must adapt to modern, data-driven strategies to stay competitive.
Join our exclusive live webinar on December 5th, “Optimizing Collections with Advanced Decisioning Solutions,” where we’ll explore how advanced analytics, machine learning, and cloud-native platforms can transform your collections strategies. Learn from industry experts as they share actionable insights on leveraging cutting-edge technology to predict customer behavior, tailor communications, and optimize recovery outcomes in real-time.
Key Takeaways
Understanding the Modern Collections Landscape: Learn how rising operational costs, regulatory pressure, and customer demands are reshaping collections practices.
Harnessing Machine Learning in Collections: Discover how machine learning can improve recovery rates by predicting customer behavior and recommending the best treatments.
Optimizing Communication Channels and Timing: Uncover the power of advanced decisioning to choose the right message, channel, and time to engage delinquent customers effectively.
Boosting Profitability through Advanced Analytics: Explore real-world case studies demonstrating how integrating AI and data science leads to significant improvement in recovery rates.
Join us for this informative session to see the ways leading financial services providers are modernizing their collections approach to reduce losses, lower operational costs, and enhance customer experience.
Instabank, the Nordic challenger bank, has been redefining the banking experience since its full digital launch in Autumn 2016. Their passionate team is dedicated to improving banking for both corporate and private customers, challenging established norms, and providing flexible solutions that simplify complexity.
Industry
Region
Countries
Nordics
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $5,500 Land PS: 0 Expand MRR: $18,045 Expand PS: $22,500
Opportunity Created
December 2016
Opportunity Won
2017
Go-Live
June 2017
Customer Expansion
Originations SME
Consumer Loans, 26-6-2017
Cloud 1, 2017
Cloud 1 expansion -2021
Cloud 2.0 Migration – 2022
Cloud 2.0 Expansion – 2024
Initial Opportunity Details
Customer Challenge
Since opening its digital doors in 2016, Instabank has become a disrupter in the Nordic banking community. One of its key products is instantly approved, direct-to-consumer, unsecured loans. The bank also partners with retailers to provide real-time point-of-sale loans to their customers. Initially, the bank used a traditional lending solution with thousands of lines of code. As a digital “challenger” bank, Instabank needed a platform that would not only enable instant decisioning, but also offer the flexibility and scalability to support the company’s rapid growth.
Provenir Approach
Provenir provided some key benefits from implementing the platform.
The Provenir Risk Decisioning Platform delivers a flexible solution for Instabank’s digital banking services.
Automated process gathers data from multiple sources and decisions each loan application in a minute.
Flexible, business-focused design tools substantially reduce time and costs for developing country-specific banking solutions.
Pre-configured integration adaptors enable real-time data gathering from Experian and a European property data provider.
Cloud-based implementation enables rapid deployment with controlled costs.
Improving margins for our customers is in our DNA, we are passionate about seeing people and businesses grow. Our roots go back to 1979, and since Marginalen was formed in the early 90s, we have grown by our own power. In connection with Marginalen acquiring Citibank’s Swedish consumer bank in 2010, Marginalen Bank was formed.
Large Mortgage lender covering the Nordic market, formed in early 1990s and acquired Citibank’s Swedish consumer business in 2010.
Industry
Region
Countries
Nordics
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $22,500 Land PS: N/A Expand MRR: $35,500 Expand PS: $9,000
Marginalen offers multiple credit products, each with their own credit originations process. Response time was a major issue and almost all mortgages had extensive manual review. Current technology and 3rd party vendor reliance restricted speed of change and flexibility to meet new and emerging product needs. Limited ability to scale constrained company growth.
Provenir Approach
Utilized Provenir’s business-user driven decision engine to increase self-sufficiency and reduce 3rd party costs.
Made extensive use of Provenir’s configurable adaptors to allow Marginalen Bank to connect to multiple data sources efficiently.
Increased self-reliance enabled rapid deployment of new decision services, increasing decision confidence and decision automation.
Provenir Impact
90% automation across all products’ credit approval processes, resulting in 25% operational staff reduction
30% + automation in larger value commercial lending
Fastest response times in the market placed them at the top of the broker funnel
Achieved self sufficiency for all credit policy changes. Credit committee approved changes are live in less then 72 hours.
LoanOptions.ai is an intelligent loan comparison marketplace, with AI-assisted loan matching to find customers the best offers for car loans, personal loans, business loans and asset financing.
Using a combination of AI and dynamic logic, they are able to provide customers with predictive pre-approval and accurate lender rates for hundreds of financial products from over 70 different banks and lenders.
Industry
Region
Country
Australia
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $57K Land PS: $35K Expand MRR/PS: N/A
Opportunity Created
27 Feb 2024
Opportunity Won
4 April 2024
Go-Live
May 2024
Customer Expansion
Provenir is guiding client to set up the first 10 lenders policy on the platform.
Client plans to launch more lenders policy independently on the Provenir platform.
Initial Opportunity Details
Customer Challenge
They were looking to expand their business globally and saw limitations in their current processes; changes to credit policies require technical IT, so were looking for a more flexible and scalable solution.
The CEO had been aware of Provenir’s solutions and had spoken with us in 2018, but now believes it is the right time to implement our tool.
Their in-house developer left the business, and they were evaluating whether to build or buy.
Provenir Approach
We were highly engaged in the opportunity’s early stages, actioning quickly in response to the customer’s urgency.
We configured a comphrehensive demo to address their pain points around multiple lenders and multiple products offering, re-engineered the versatile lenders’ requirements with configuration on the fly, and offered a sandbox trial with frequent guidance follow-ups.
Provenir Impact
Potential metrics after client’s go-live:
Time savings
Cost reductions
Improved customer satisfaction
Higher approval rates
Business expansion to multiple countries
Competitors
In-house development
Why We Won
Flexible and scalable solution.
Compelling configured demo to targeted pain points.
Close relationship with CEO and working team.
Expedited and high engagement in early stages, after qualifying customer’s needs and urgency.
Pain Points
High code maintenance
Inflexibility with multiple product offerings
Slow to implement new lender policy and existing lenders’ policy changes
Customer Growth
Growth Opportunities
Upcoming opportunities:
Volume: 70+ lenders
Geographies: Philippines, New Zealand, Canada, etc.
Expansion
The client has not only agreed to a press release but also committed to being a reference client and facilitating introductions to their extensive network of 70 lenders.
Example Decisioning Flows
New Application Lead
Decisioning
Bureau Data Enrichment
Decisioning
Equifax
CreditorWatch
Illion
Eligible Lenders and Products Filtering
Decisioning
Product offering and Policy from different lenders
High Risk Patterns & Scoring
Decisioning
Application Score Model
High Risk Low Risk
Loan Offer
Decisioning
Send qualified leads to eligible lenders for loan approval
Banco Promerica Costa Rica is part of Grupo Promerica that boasts an impressive presence across eight Central & South American countries, serving over 2.6 million clients with a robust network of branches and ATMs. With total assets exceeding US$18 billion and equity surpassing US$1.45 billion, they represent a valuable addition to our growing client base in the banking industry.
Industry
Region
Country
Costa Rica
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $18K Land PS: $91,140 Expand MRR/PS: N/A
Opportunity Created
August 4, 2023
Opportunity Won
February 13, 2024
Go-Live
In Implementation
Customer Expansion
Expansion planned for additional countries
Initial Opportunity Details
Customer Challenge
To support their ambitious plans, Promerica needed a more flexible decision engine solution to manage their credit policies and decision-making. Their current process is highly manual, lacking the flexibility required to support their digital lending goals. A gap existed between their strategic objectives and the technical capabilities necessary to quickly implement decision rules tailored to their risk appetite and data requirements, and to scale as needed.
The transition to a robust digital onboarding offering is a strategic imperative.
Provenir Approach
Through process automation, our platform will enable a new era of efficiency. With simplified data access at its core, we ensure that decision-makers have immediate access to the right data, empowering them to make smarter credit risk decisions with confidence and precision.
Furthermore, our low-code intuitive UI represents a paradigm shift, placing the power of customization and adaptation firmly in the hands of Promerica’s business users. Together, these pillars form the foundation upon which our solution will deliver unparalleled value, driving success and growth for Promerica in the dynamic landscape of modern business.
Provenir Impact
After the implementation is completed, the internal objectives that we have set for ourselves include:
To streamline the digital onboarding process, allowing consumers to apply in real-time with a significant improvement in underwriting speed, reducing processing time from days or hours to minutes or seconds.
To enable rapid, low-effort access to any data source for improved accuracy and efficiency in Promerica’ s credit risk decision-making. The initial milestone will focus on real-time integration with Equifax. Currently, this integration operates through a manual approach.
Competitors
GDS Link, FICO, In-House.
Why We Won
External Data augmentation via Marketplace and APIs
Integrations to Internal Databases
Flexibility: “On-the-fly” changes
User friendly visual interface
Ability to manage real time and batch mode for applications
Pain Points
Streamlining digital onboarding
Data integration
Flexibility to adapt credit policies
Customer Growth
Growth Opportunities
The current priority is focused on completing the implementation of this first phase in Costa Rica. After this implementation, the objective is to replicate the experience in the rest of geographies to standardize the Digital Onboarding initiative.
Expansion
The plan not only considers expansion through the incorporation of additional use cases but also focuses on standardization across the eight countries where Promerica has presence in Central and South America. This initiative will strengthen our collaboration and ensure sustainable joint growth throughout the region.
Telia Company is a leading telecommunications and mobile network operator primarily serving the Nordic and Baltic regions, with operations extending to the other parts of Europe and Asia. Established in 1853, Telia has evolved into a modern telecommunications company, providing a wide range of services including mobile and fixed line telephony, internet, digital television and enterprise solutions.
After successful engagement with Telia Finance for many years on Cloud Platform, at the end of 2022, Telia Company, the parent of Telia Finance decided to go with Provenir for their own country specific entities who operate separately and who also provide telecoms products with credit. With a focus on innovation and sustainability, Telia is committed to shaping the digital future and enhancing connectivity for individuals and businesses.
Industry
Region
Countries
Sweden, Finland, Denmark, Norway
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $40K Land PS: €250K Expand MRR/PS: N/A
Opportunity Created
May 2022
Opportunity Won
December 2022
Go-Live
TBD
Customer Expansion
TBD
Initial Opportunity Details
Customer Challenge
Telia decided to adopt a new standardized credit granting process that forms the basis for different products and services in B2C and B2B areas. The key is to establish a platform on which different credit decisioning processes can be achieved with:
Increased business agility, adaptive response to changes in market and customer behavior
Easy to integrate with external & internal systems to enhance decision making quality
End-to-end risk management & compliance
High performance & easy to scale
Cost efficiency on a single platform
Support & flexibility for multi-product, multi-country type complex design
The ambition is to complete the roll-outs of this credit decisioning initiative by EoY-23 across multiple countries to improve time-to-market and reduce customer friction for better customer experience
Provenir Approach
Provenir Adaptor Technology: to collect data and communicate various internal & external systems/sources
UC, Bisnode, Phone & Email services
CRM, Finance, Billing etc.
Visual & Quicker build for rules & calculations
Optimize the promotion of reusable building blocks (flows) in a flexible design context in multi-step and multi-level decisioning
Ease of analytical asset operationalization
Handling exceptions thanks to Provenir versatile Case Mgt. on Salesforce
Strong existing customer relationship from Telia Finance
Provenir’s flexibility, business friendly interface, support for reusable building blocks (micro-service oriented)
Presales and PS collaboration to meet every single custom requirement via a tailored demo artifact + detailed workshops to address all business, functional and technical aspects forming a strong trusted advisor state
Smart deal strategy to make the financial model attractive esp. for multi country multi brand.
Pain Points
Easy to change, low-code solution for agility & responsiveness
The successful engagement & delivery means that now Provenir and Telia are in conversations for further expansion:
Telia Company Norway
Telia Company other countries
Expansion
Telia Finance offered loans & credits for telecom products. With the Telia company expansion in 2022 our successful roll-out starts with Telia Finance Denmark for B2B and B2C products (mobile, broadband, TV) in risk-based pricing and limit, which is later planned to be followed by:
Telia Finance Sweden (mid-June 24)
Telia Finance Finland (Q3-24)
Telia Finance Norway (Q4-24)
Example Decisioning Flows
New Application
Decisioning
Pre-Scoring
Decisioning
(Credit Policy Rules & Internal Payment History)
Application Data
Invoice information (Order & Payment History)
Population Register Data
Phone & Email Service
External Scoring
Decisioning
(Fraud, AML, Sanctions, Credit Bureau)
(formerly Bisnode)
Fraud, sanctions, AML scores
Disposable income calculations
Bureau generic models
Customer Specific Scoring Models
Decisioning
Telia custom scoring model with internal Telia data & external data combined (fraud, bureau, register, application data involved)
Formerly ‘TripActions’, Navan were founded in 2015 and are an online travel, corporate card and expense management company. They look to automate manual processes and drive a better spending visibility for their clients via their next generation of software design. They were looking for a solution that can enable them to automate their credit risk assessments for corporate travel card applications, which brought them to Provenir.
Industry
Region
Country
United States
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $15,960 Land PS: $92,656 Expand MRR/PS: TBD
Opportunity Created
March 1, 2024
Opportunity Won
April 18, 2022 Selection from the Business received
May 6, 2024 Selection from the Technical team received
Go-Live
TBD
Customer Expansion
TBD. But there is significant opportunity for expanded use in Portfolio Management and Fraud strategies.
Initial Opportunity Details
Customer Challenge
Navan’s assessment of new applications was done completely via complex formatted scorecards maintained in a google sheet. They had onboarded another decision solutions provider called Benoble, but had never reached a true point of utilization with them before Benoble announced they were folding as an organization. This left Navan performing an extremely manual credit assessment via their google sheet scorecard, which caused issues for Navan, such as:
Difficulty tracking application data and outcomes, which is bad for auditing.
Longer application processing times (2-3 days for onboarding).
Credit strategy not easily maintained.
Provenir Approach
Initial scope of the ‘day 1’ solution is to essentially automate what they do today, taking the manual scorecard maintained in the google sheet, automate them via scorecard objects while maintaining some of the key principles they wish to keep going forward related to scoring and weighting. Case Management will give them an improved grip over making the final decision (‘rubber stamp’) on all applications, while being able to easily capture and edit application data before submitting into the process.
Provenir Impact
Navan had no existing automated origination system. The main business impacts:
Significantly reduced ‘time to lend’ and ‘cost to lend’
Enhanced compliance
Improved manual intervention capabilities
Competitors
Alloy and another unnamed.
Why We Won
Following a POC, Navan were impressed by our solution’s features and capabilities which enabled them to easily automate their existing policy while maintaining some of the key principles they wished to keep with their ‘day 1’ solution. Against Alloy, we filled a feature gap around our ability to flexibly batch test new configurations while also supporting batch processing. Furthermore, Alloy resell data with certain attributes not available or withheld from the response, and Navan appreciated we have full response structures in our marketplace adaptors for them to select from.
Navan also appreciated our commitment to them, their success criteria and any questions they had, valuing the level of involvement we maintained during the entire sales process. Something, according to them, other vendors they were speaking to were not as good at.
Fintech startup Varo Bank is one of several fintechs and “challenger banks” in the United States aiming to take on the big traditional financial institutions by catering to the customers those institutions neglect: people with lower incomes and little wealth. The bank is completely digital with no brick-and-mortar branches.
Industry
Region
Country
United States
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $13,513 Land PS: $196K est Expand MRR: TBD Expand PS: $52,740
Opportunity Created
June 20, 2020
Opportunity Won
January 18, 2022
The decision timeline was significantly delayed due to the ongoing COVID-19 pandemic.
Go-Live
April 17, 2024
Reorganizations and multiple project holds from Varo affected the timeline. Actual implementation took 5 months.
Customer Expansion
The original plan (2022) was to expand usage to all consumer products.
The first go-live (April 2024) was to support an employee line of credit.
Current plans are to expand to customers in May 2024.
Provenir is finalizing a PS Consulting SOW for $52,740, expected to close in May 2024.
Initial Opportunity Details
Customer Challenge
Varo’s initial tech stack included an in-house-built mobile application and Temenos as the core banking system. By 2020, Varo was on the cusp of receiving its banking license and went to market to find an origination solution in anticipation of rolling out a variety of consumer loan products and credit cards.
In looking at other vendors + the possibility of leveraging older in-house-build applications to create an in-house solution, the ability to configure rapidly, test efficiently including use of A/B testing, and expand easily in the future to new use cases were identified as key drivers of the decision.
Provenir Approach
The initial POC was more complicated from a functionality perspective than the finalized scope of the LOC decisioning process put into production in April 2024.
Nonetheless, Provenir’s initial reasons for selection – ability to rapidly configure business objects and deploy models – were both used to support the eventual as-deployed project, with numerous rule sets and Python models part of the configuration.
Provenir Impact
Varo had no previous origination system and as a de novo solution, no before-and-after comparisons are possible.
Competitive Pricing, Product Functionality – especially object configuration and model execution, Relationship with executives built over several years.
GDS took 3+ weeks to configure/deliver custom demo requirements; Provenir did a better custom demo only a week after receiving requirements.
Pain Points
Temenos (Varo’s existing core system of record) didn’t have origination capability. Thus, they were in the market for an origination solution.
Customer Growth
Growth Opportunities
The initial license was only ringfenced based on DE utilization and “consumer lending.” At this time, additional expansion will only likely affect DE utilization as Varo is not currently planning expansion beyond consumer products.
Case Management has been something in which Varo has shown interest in the past; this should be revisited at a later date and is considered “closed nurture” today.
Lexis Nexis is interested in partnering with Provenir to sell data into Varo.
Expansion
So far, with so many starts and stops of the implementation project (all initiated by the Varo team), getting the initial project live has been the focus.
At the time we were named the selected vendor, the plan was to leverage Provenir across all decisioning as Varo introduced new products. Even though Varo’s timeline to roll out new products has greatly increased, Provenir is still positioned to support these initiatives when they happen.
