Advanced automation, analytics, decisioning and integration capabilities – learn more about streamlining complex processes and creating a superior customer experience.
Back to the Future: 8 Features of Fast and Future-Proof BNPL Technology
The Future of Buy Now, Pay Later – the Industry Weighs In
Discover what industry experts predict is on the horizon for the rapidly evolving Buy Now, Pay Later market
uy Now, Pay Later (BNPL) is absolutely everywhere these days. Record transaction numbers, new providers, new markets served. What does this rapid growth mean for the future of BNPL? What impact will increasing regulations have on the seemingly endless runway of opportunity? Hear from industry influencers what they believe the future of BNPL has in store – for providers, merchants and consumers.
Learn about:
The impact of the Covid-19 pandemic on BNPL trends
How providers can create products that support long-term credit health
How the right technology solutions can future-proof your BNPL products
The Ultimate Guide to Decision Engines
What is a decision engine and how does it help your business processes?
How to create a Netflix-like experience in auto lending with automated risk decisioning
In the age of instant everything, consumers expect immediate answers. Auto financing is no different. If you aren’t approving auto loans quickly, your competition may be – losing you valuable customers in the process.
Explore our auto financing eBook, where we look at the evolution of auto lending and how real-time, instant risk decisioning can make a difference in the satisfaction of your customers.
Learn:
How to create brand loyalty with superior, customized auto purchasing experiences
The way on-demand data and instant risk decisioning can power faster innovation across your business
How making the right credit decisions, quickly, is key to long-term growth
Download the eBook today and discover how you can drive a better consumer experience with AI-powered risk decisioning.
The Ultimate Guide to Decision Engines
What is a decision engine and how does it help your business processes?
Closing the gender credit accessibility gap in LATAM
It’s no secret that workplace and economic inequality between men and women still exists on a global scale. In Latin America, there is an even greater gender gap. Did you know that 54% of Latin American women must use their own savings to start a project?
Only 15% of women are able to start their own companies with the support of a private bank
Women represent 56% of informal employment
Women have a “double shift”: managing both outside work and housework
However, today technology is helping to bridge that gap and play a part in stabilizing the economic playing field for women. Get the eBook and learn how you can adapt and change for the betterment of millions of women, while generating new business opportunities.
How to close the gap through smarter credit decisioning
Discover how closing the economic gender gap in Latin America can increase the size of the economy by up to 22%. For more information on how to support women-led entrepreneurship and closing the gender gap, check out our latest eBook. Hear from industry experts, see real-life examples and discover how technology can be the catalyst.
Get your copy of the Women-Led Entrepreneurship in Latam eBook
Provenir for Automating Factoring and Invoice Discounting
Gain the Competitive Edge with Advanced Technology for Integration, Decisioning, KYC and Operationalized Risk Models
Companies that can offer clients simple, efficient factoring and invoice discounting services are the ones that will win more business. But these companies can’t do so at the risk of failing to meet KYC regulations or taking on high-risk clients.
Provenir delivers a unified, vendor-agnostic platform to help your business make the right decisions and make them faster. Leveraging workflow automation, easy integration capabilities and real-time risk analytics and decisioning, Provenir can help you automate and streamline factoring and invoice discounting from start to finish. Instead of days or weeks to complete the process, you can make a decision in just a few minutes to accelerate market growth while reducing risk and ensuring compliance.
Cut time and costs with end-to-end workflow orchestration and configurable integration adapters that automatically aggregate information from virtually any internal and external data source.
Increase compliance with automated KYC processes that gather data from multiple systems and bureaus, standardize and analyze it to drive a decision.
Lower risk with industry-standard financial risk models, including R, SAS, Excel and PMML, easily operationalized within automated risk decisioning processes.
Increase business-level control and agility with visual configuration tools to quickly create and change user interfaces, rules, processes and integrations without any programming or dependence on Provenir.
Accelerate deployment with the Provenir which offers a highly secure cloud environment with flexible options for domain setup, managed services, deployments and scalability.
Provenir simplifies, automates and streamlines complex factoring and invoice discounting processes to deliver a better client experience, increase efficiency, ensure compliance and reduce risk.
Simplify Integration and Decisioning Processes
Pre-built adapters automate data aggregation with quick integration to multiple sources including enterprise and third-party systems, websites, credit bureaus and social media.
Workflow orchestration can automatically manage data enrichment, use existing analytic models to determine risk and move to the next step in the process.
Straight-through processing supports instant decisioning with no manual intervention where appropriate.
Fully-featured document management provides a centralized, enterprise-wide repository that acts as a single source of information for all decisioning and business processes.
Customized documents delivered by the latest technology create a socially collaborative customer experience.
Dynamic business logic can determine compliance or non-compliance and refer an application to the right individual for further analysis.
Business-defined rules support specialization, applying the right regulations and ensuring the right data is captured for each client.
Improve Underwriting Efficiency
Easy-to-use- model integration adapters allow any risk model or scorecard developed in industry-standard tools, including SAS, R, Excel, or exported using PMML/MathML, to be quickly operationalized in decisioning processes.
Rules-driven decisioning applies risk models and scorecards to aggregated data to automatically determine a rating.
A visual interface simplifies risk rating on an on-going basis, such as viewing previous or historical ratings, modifying ratings and re-rating.
Learn how easy it really is to operationalize risk models with Provenir.
Wizards make it easy to import, validate and map simple and complex risk models and scorecards without any programming.
A visual configuration environment provides graphical tools and wizards to rapidly integrate with data sources, develop interfaces, define rules and build workflows.
Visual testing capabilities include champion/challenger testing to facilitate “what if” analysis before risk decisioning processes are put into production.
Automate Factoring and Invoice Discounting with Provenir
Alternative Data – The Champion of Innovative Credit Scoring
How to improve decisioning accuracy and expand your customer base
Traditional credit scores from Credit Reporting Agencies have historically been the only method to determine the risk of lending to an individual. But there are ways to get a much clearer view of a person’s credit risk and make more accurate lending decisions. There are 2.5 quintillion byes of data created globally every day – including various types of alternative data not captured by traditional credit scores.
64% of lenders/credit providers using alternative data see tangible benefits within only a year. Discover why using alternative data is quickly becoming a competitive advantage for lenders.
Want to know how to use alternative data in your credit decisioning?
Rapid and Simple Data Integration with Provenir Foundation Adapters
The Provenir Risk Decisioning Platform can substantially reduce the time, resources and costs for implementing sophisticated risk decisioning applications. A core strength of the platform is its pre-built and standards-based integration adapters. These “Foundation Adapters” enable IT organizations to communicate and integrate quickly with other internal and external systems as well as multiple structured and unstructured data sources.
Provenir has designed the adapters for ease of use. IT organizations can create integrations in the visual environment provided by the Provenir Platform without any coding or dependency on Provenir. There is no need to start from scratch each time you want to integrate with another data source — connections can be made rapidly using the pre-built integration components. Each adapter provides:
Connectivity, security, transaction support and data conversion/parsing
Two way communication
A visual or graphical data mapper guides the user through the task of establishing the integration and mapping the required input/output data.
Visual testing to check the accuracy of the integration. You can test any integration independently, or place it in a business logic process for a more comprehensive test. Provenir provides instant feedback along with a detailed breakdown of the results to show you exactly what happened during the test.
Adapters for Structured Data Sources
Provenir adapters contain the protocol-specific connection specifications for a wide variety of structured data sources1 including:
Web Service – Used for XML, HTTP(S), SOAP or Container-less connections
JDBC – Used for IBM DB2, JDBC-compliant DB, MSSQL, MySQL, Oracle connections
JMS/Message Queue – Used for WebSphere MQ, MSMQ, Apache Active MQ, Rabbit MQ etc.
File – Includes (but is not limited to) Delimited, Fixed Length, Binary, PDF, XML, Word and Excel
E-mail – Used to send e-mails, faxes and SMS-based messages
TCP/IP – Used to connect to legacy systems, such as older credit bureau protocols
SMS – Used to send/receive messages across all channels including mobile phones
Web-tracking – Used for run-time customer interaction tracking on the web
Unstructured Data Adapters
Social media now offers a potentially powerful new source of valuable data. However, integrating with social media has proven time-consuming and costly. It is not easy to gain access to the data, connect and pull data from social media sources, or make use of the data because it is not stored in a structured format. Provenir solves this problem with ready-to-use adapters that function as gateways to key social media sites including Twitter and Facebook. Leveraging the connectivity exposed by these sites, Provenir’s social media adapters offer a standardized approach to accessing unstructured data, including a visual configuration interface to create the connection and define what to listen for on a site.
The Facebook adapter enables clients to listen for posts on Facebook pages and, when available, use information about the person who posted the message to determine a course of action in response to a post.
The Twitter adapter allows clients to:
Send tweets
Listen for tweets, or specific words in a tweet
Reply to a tweet
Re-tweet
Find followers
Determine if specific person is a follower
Determine if two accounts are following each other
Send a private direct message to a follower
Receive timeline and information for a specific user
Provenir Foundation Adapters eliminate the need for extensive coding or one-off integrations to multiple structured and unstructured data sources.
Creating Data Integrations
Creating an integration between Provenir and structured or unstructured data sources is as simple as selecting it from the Add list on the Adapters tab.
Once added, each adapter can be configured to describe the input and output integration between Provenir and the data source.
Configuring a Structured Data Integration
Provenir guides you through each step in the process of configuring an integration, such as this example of using Provenir’s Web Service Adapter to connect to Experian NetConnect, which pulls Experian business and consumer reports over HTTPS.
Easy-to-follow wizards are used to configure both the input and output data values.
You map the Experian element to Provenir, defining how to store the Experian response data in your schema.
Provenir also allows you to use individual fields from the Experian response data in your business logic. When you choose this option, Provenir automatically adds the full xml to your data schema.
Provenir combines the schema and mapping logic that you have defined with the adapter to automatically create the integration.
Configuring an Unstructured Data Integration
Provenir approaches integration with an unstructured data source in the same way as for a structured source. Configuration starts with establishing the physical connection between Provenir and the source, such as Twitter.
Provenir then guides you through the process of setting up each aspect of the Twitter profile, such as the Listen function where you can track for specific words in tweets or specific users.
You map the fields to be used in the desired business process that are available in received tweets, such as text fields which contain a tweet’s text, user/id that contains a number ID of the person who sent the tweet and user/screen_name which is the Twitter user name of the individual who sent the tweet.
Don’t Keep Customers Waiting Make Risk Decisions in Seconds
Provenir for Retail Financing
Today, consumers are used to simple and fast digital interactions with instant banking and one-click shopping from their mobile phones. This expectation for speedy online service now extends to more complex interactions like loans. Whether you are a telecommunications company offering loans for mobile phones or a rent-to-own store which provides loans for furnishings, your clients demand a quick risk decision.
Provenir can help you deliver a timely, hassle-free credit or loan experience. Using the Provenir Risk Decisioning Platform, it’s easy to automate your credit and lending processes, making them as efficient as possible while minimizing risk and staying compliant. You can substantially cut the time and cost for creating and maintaining complex credit and risk decisioning solutions to:
Make decisions in seconds/milliseconds. Take advantage of instant, straight-through processing for credit and lending requests and automated next-best-action recommendations for requests requiring further underwriting analysis.
Integrate to structured and unstructured data sources in hours.Pre-built adapters automatically consolidate information from virtually any enterprise and third-party data source.
Operationalize risk models in minutes. Provenir is model-agnostic so that you can use any model or scorecard developed in industry-standard tools such SAS, R, Excel and Python within your decisioning processes.
Be completely independent from your IT organization or Provenir. Simple to use visual tools let you rapidly create, test and deploy automated risk analysis and decisioning processes for immediate response to changing regulations, market conditions, customer profiles, business opportunities and competitive challenges.
Accelerate deployment with the Provenir Cloud. A highly secure cloud computing environment offers flexible options for domain setup, managed services, deployments and scalability.
Rent-A-Center Implements Provenir Cloud to Better Serve Growing Customer Base
“The Provenir platform’s scalability and rich functionality provide significant value to Rent-A-Center’s growth plans and transformation,”said Mark Denman, EVP of Acceptance Now 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.”
Rent-A-Center provides furniture, electronics, computers and household appliances under rent-to-own agreements. It is publicly listed with more than 3,500 stores in the US, Canada, Mexico and Puerto Rico and revenues totaling $3.28 billion in 2015.
Lewis Group Makes Risk Decisions in Seconds Using the Provenir Platform
The Provenir Risk Decisioning Platform has significantly cut the time required to implement and change decisioning policies. “Provenir’s built-in repository and change management system makes entertaining such requests almost a pleasure,” says Willie Van Zyl, Senior Solutions Analyst at Lewis. For example, it took less than half a day to integrate a new SAS dataset and retrieve an indicator used to print a special promotional message on a customer’s statement. Previously, such a change would have taken more than a week and costs would have outweighed the benefit.
In stores, the Provenir platform enables the majority of application credit decisions to be made in just a few seconds once the required information is captured. Borderline applications are automatically referred to underwriters for further analysis. The credit maintenance solution aggregates data and automatically evaluates each customer’s credit performance, allowing Lewis to quickly identify at-risk customers as well as additional opportunities to extend credit.
Lewis is a leading African retailer selling household furniture and electrical appliances through the brands of Lewis, Best Home and Electric and Beares. Lewis has 716 stores across all metropolitan areas with a strong presence in rural South Africa.
Back to the Future: 8 Features of Fast and Future-Proof BNPL Technology
Discover the BNPL technology features that will help you drive greater financial inclusion
Over the past year, Buy Now, Pay Later products have gone from interesting new option to a household staple. The growing consumer comfort levels with BNPL features and products has opened up an opportunity for lenders to create offerings that can drive financial inclusion across the APAC region and help millions of people move from credit invisible to credit worthy.
To attract and support consumers on this journey, you don’t just need technology that gets you to market quickly, you need technology that empowers you to make smarter credit risk decisions with alternative data.
In our latest eBook, we explore the 8 decisioning and analytics technology features that will prepare you to:
Power world-class onboarding experiences
Access and use the alternative data you need to make smarter credit decisions
Get deeper insights into your risk decisioning performance
