TDS Mini: Reducing Biases with Alternative Data and AI
Fair and accurate: these are the hallmarks every lender strives for when making risk decisions.
But the truth is, humans can’t always achieve that goal on our own. That’s why the use of AI and alternative data has been such an exciting development for credit providers – they can help improve financial inclusion and power credit decisions that have the potential to change lives.
In this TDS Mini, join Finovate’s David Penn and Provenir’s Carol Hamilton for an overview on the impact of these tools and best practices for using them.
In the dynamic landscape of financial services, strategy-driven decisioning across identity, fraud, and credit is a pivotal driver in shaping a business’s future success. Join the financial service leaders who are meeting strategic goals, managing risk, and maximizing customer value with Provenir. Discover the holistic decisioning difference in the datasheet.
See why industry leaders are switching to Provenir
How to Power Rapid Approvals and Improve your SME Lending Strategy
SMEs contribute a significant amount to the economy in MENA, averaging between 10-40% of all employment in the region and comprising 80-90% of total businesses in most countries. They represent $7 billion USD in potential profit for banks, with over $100 billion USD in financing needs – but they still struggle to access the credit they require (EY – Redefining SME Banking Report). Waiting weeks or even months for credit approval and funding can mean the difference between innovation and business closure.
Traditional financial services organizations may find lending to SMEs difficult, but fintechs, challenger banks, and digital banks are rising to the challenge. Simplified application processes, rapid approvals, and improved accessibility to funds makes working with digital lenders an obviously attractive choice.
Because if you aren’t making it easy for SMEs to get the credit they need, your competitors will.
Watch now for this insightful panel discussion, where we’ll be talking with industry experts on ways to leverage data and artificial intelligence to ensure accessibility to credit for SMEs.
Discover how to:
Power faster, simplified application processes
Make smarter, faster decisions and get to market faster
Future-proof your decision technology to keep up as market trends/demands evolve
Use advanced, predictive analytics like AI to keep risk in check
Leverage real-time, historical and alternative data to ensure a more holistic view of creditworthiness
How to maximize the lifetime value of your customers across the entire lifecycle
Anywhere from 40-70% of the growth of your financial services business comes from existing customers. But do you know how to properly maximize the value of your customers throughout the entire journey? Discover how an AI-powered decisioning platform can go beyond onboarding – to effectively manage and mitigate risks, while growing your revenue.
Want to learn more about taking your risk decisioning beyond onboarding?
How to Enable AI-Powered Decisioning for Smarter, Faster Risk Decisions Across the Entire Customer Lifecycle
If navigating the growing field of risk decisioning platforms feels like trying to find a needle in a haystack… don’t worry, we’ve got you covered. We’ve developed a comprehensive guide to choosing the right risk decisioning platform for the specific needs of your organization. We’ve looked at the essential features you need and how to make the best selection that will enable maximized value throughout the entire customer journey, for everything from onboarding to collections and all points in between.
Key takeaways from the guide include:
How to use AI-powered decisioning to maximize customer value across the lifecycle
The key capabilities of a risk decisioning solution that will ensure success at onboarding and beyond
The role the right data at the right time plays into decisionsing success
Defining your project requirements to ensure success
How to Power Rapid Approvals and Improve your SME Lending Strategy
In Africa, SMEs provide approximately 80% of jobs, representing a critical driver for the economy in the region. But 51% of these businesses require more funding than they have access to, and 28% of SMEs in the region are fully credit constrained (source). Waiting months or even weeks for credit approval and funding can mean the difference between innovation and business closure.
Traditional financial services organizations may find lending to SMEs difficult, but fintechs, challenger banks, and digital banks are rising to the challenge. Simplified application processes, rapid approvals, and improved accessibility to funds makes working with digital lenders an obviously attractive choice.
Because if you aren’t making it easy for SMEs to get the credit they need, your competitors will.
Watch now for a live panel discussion, where we speak with industry experts on ways to leverage data and artificial intelligence to ensure accessibility to credit for SMEs.
Key Takeaways:
Power faster, simplified application processes
Make smarter, faster decisions and get to market faster
Future-proof your decision technology to keep up as market trends/demands evolve
Use advanced, predictive analytics like AI to keep risk in check
Leverage real-time, historical and alternative data to ensure a more holistic view of creditworthiness
Pivot Now, Profit Later – Building Sustainable BNPL
BNPL regulations are looming as market demand is changing. How can providers pivot along with the evolving industry? Discover the key elements your BNPL strategy needs to help you stay ahead of the curve and pivot to profitability.
Learn to optimize accuracy and reduce risk, stay relevant with platform flexibility, and center the customer experience – in short, build sustainable BNPL. It’s all in the infographic!
Buy Now, Pay Later (BNPL) has come a long way since it shook up e-commerce at the height of the pandemic. While it was once the poster child for fintech innovation, the backlash against the point-of-sale loans has set in. BNPL providers can no longer afford to acquire customers at any cost – it’s time to shift strategies and pivot to profitability.
Explore how you can future-proof your BNPL technology and build a sustainable strategy that will outlast coming regulation, keep up with changing markets, and reflect economic conditions – all with unshakeable accuracy. Read the eBook to get started!
Read the eBook to discover:
Global BNPL challenges and opportunities
What to expect from upcoming regulation
How to pivot your strategies to become profitable
The future-proof technology you need for sustainable success
Navigating New Credit Products, Financial Inclusion and Beyond
Consumer lending is changing. How can you remain on the forefront of this $11 billion market? By offering flexible, digital experiences built around your customers. But how do you innovate new products, stay on trend, and grow your business, all while effectively keeping your risk in check? You need the right technology, the right risk strategy, and agile tactics that can enable you to capture low-risk, high-reward opportunities.
Watch now to explore the power of data and AI-driven credit risk decisioning for forward-thinking consumer lenders. Experts from Provenir and Vesta will share insights into why accurate risk assessment is the key to reaching new markets, the flexible features your tech needs to keep up with evolving trends, and how the use of integrated data-rich decisioning ecosystems can help credit providers pioneer the future of low-risk consumer lending.
Key takeaways:
Insights into the latest consumer and industry trends like the evolution of BNPL
How to enhance your credit risk strategy to incorporate financial inclusion and unlock new addressable markets
Ways to accelerate approvals with automated, real-time decisioning
How to streamline customer onboarding with traditional and alternative data for more accurate decisions and personalized offers
The ways agile tech designed for business users can help you launch new products and get to market faster
Speakers:
Waldemar Faltenberg
Regional Manager DACH, Provenir
Gabriel Pascual
Senior Vice President, Global Partnerships, Vesta (ex-Mastercard)
We’re back for part two of our TDS Mini series, breaking down the first half of 2023.
Our regional experts will give you the SparkNotes version of what happened in H1, where you should focus your attention now, and what to expect in H2 – all in three minutes each!
In our second and final part, we hear from José Vargas (Executive Vice President and General Manager, LatAm), Kathy Stares (Executive Vice President, North America) and Adrian Pillay (Vice President of Sales, Middle East and Africa). Learn about recent regional investment trends and their implications, discover how mindsets about risk, financial inclusion, and data are changing, and get the outlook for SMEs, incumbents, and experiential banking in H2.
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