NEWS

Decisional platform will be applied in the financial services provider’s credit granting, analysis and reanalysis processes

São Paulo, March 14, 2023: Provenir, a global leader in AI-powered data and risk decisioning software for fintechs, announced today that Jeitto, a fintech with a digital credit solution for classes C, D and E, has chosen the company’s data and artificial intelligence decisioning platform to optimize its credit operations.

Founded in 2014 and with more than 4 million registered customers and about R$570 million granted, the Brazilian credit app has adopted Provenir’s scalable cloud-native solution to support its data-driven decision management in its credit granting, analysis and reanalysis processes. Among other benefits, the platform enables customized credit decisions for each different trading partner (BNPL) and easier integration.

“Since 2022, we have been making a series of improvements to our platform, seeking to offer our clients an even better experience. The selection of Provenir is part of this process and will give us even more agility in the management and adjustment of credit strategies, which is one of our main assets with our customer base,” says Fernando Silva, CEO and co-founder of Jeitto.

The main objective of selecting Provenir is to increase Jeitto’s capacity to grant credit and control risk factors to its operation and greater agility to deal with changes in the profile of the target market.

Through the Jeitto application, in addition to access to credit, customers manage their daily finances, including payment for utilities, transportation, and cell phone recharges. 

Jeitto is an important partner for people in their first experience with banking and financial services. The company aims to expand access to healthy credit to increase the financial strength of families, boost trade, empower the population, and promote more opportunities to access a wider range of financial services.

“We are very pleased to partner with Jeitto to serve an important contingent of Brazilian consumers in an intelligent and innovative way,” says Jose Luis Vargas, Executive Vice President for Latin America at Provenir.

“Our platform will offer Jeitto agility in managing and adapting to existing credit strategies, besides facilitating the creation of customized strategies and allowing personalized credit decisions through the powerful level of security offered by Provenir,” concludes Vargas.

Provenir’s industry-leading AI-powered and data and decisioning platform empowers fintechs and financial services organizations to unlock the true value of data by combining on-demand access to data with simplified AI and automated real-time decisions. With more accessible and usable data and AI, financial institutions can automate complex decisions that drive excellent customer experiences, addressing identity, credit, and fraud for faster integration and maintenance.

What is a decision engine and how does it help your business processes?

NEWS

The motorcycle financing company selected Provenir to power its growth and expansion

MIAMI, FL (MAY 25, 2022) – Provenir, a global leader in AI-powered risk decisioning software, announced today that Flexiplan, the El Salvador-based motorcycle financing company, has implemented Provenir to meet all its credit needs, including real-time loan approval, process automation and easy API integration.

With more efficient decisioning processes, Flexiplan can manage risk more effectively, giving it the agility to respond quickly to customers through its digital platform and point of sale while driving business growth. With the real-time insights delivered by the Provenir platform, Flexiplan expects to approve up to 60 loans in the time it would have previously taken to approve one.

Flexiplan helps motorcycle dealers increase sales while providing valued customers for bank partners. The company is built upon the belief that flexible credit enabled by modern technology is a powerful tool to promote commerce and a better quality of life for consumers. Flexiplan needed a flexible platform that delivered more agile and effective credit risk management and decisioning to grow and scale its business as it plans to expand to multiple countries in Central America and the Caribbean.

Tito Gutiérrez, CEO of Flexiplan emphasized, “Provenir is very versatile as it allows us to seamlessly adapt our business behavior to what the market requires, and we are considering the use of alternative data in the future to further improve the approval process.”

“It has been a pleasure to contribute to Flexiplan’s digitalization journey and continued growth with Provenir’s AI-powered decisioning solutions, allowing for loan approvals in milliseconds, said Jose Vargas, Executive Vice President, LATAM, for Provenir. “The niche segment of motorcycles has experienced regional growth over the past few months, and Flexiplan is well-positioned to take advantage of it and make waves in El Salvador and beyond. Provenir’s flexible platform, which can be seamlessly adapted to various markets, can easily enable Flexiplan to expand its business.”

NEWS

Provenir enters exploding fintech market in Brazil

Parsippany, NJ, May 18, 2022 – Provenir, a global leader in AI-powered risk management software for fintechs, today announced its first customer in Brazil: Provu, a fintech specializing in payment and personal credit, based in São Paulo.

Provu is a pioneer in the Buy Now Pay After (BNPL) solution in Brazil, with which merchants offer customers a form of payment in installments without a credit card and receive the value of the purchase in cash.  The process is done in a completely digital way, from a brief credit analysis of the potential buyer.

This Brazilian fintech, which also operates in online personal lending, was looking for a native cloud decision platform to boost and scale its offerings as it grows, giving its credit team independence to make changes, as well as allowing them to launch new products quickly and connect with new data providers without difficulty.

“One of the pillars to revolutionize the credit market is a quick customer decision response time,” said Renato Mesquita, Provu’s Director of Risk (CRO).  “In this sense, the partnership with Provenir is strategic. With the technology and robustness of Provenir’s credit decision engine, already adopted by major international references, we will be able to automate our credit intelligence without overloading internal resources, ensuring answers and analysis of more complete and efficient credits,” adds Renato.

“We are excited to partner with Provu, a pioneering and innovative company, which will help bring new digital financial offerings to the Brazilian population,” said Jose Luis Vargas, Executive Vice President for Latin America at Provenir. “We are seeing unprecedented demand from startups, fintechs and neobanks across the country for real-time credit decisions. Provu has understood that our risk decision-making platform with artificial intelligence will allow them to optimize the customer experience throughout its lifecycle. Provenir is expanding its investments in Brazil to meet this demand more quickly and accurately.”

Provenir’s AI-based risk decision-making software is the industry’s first true risk decision ecosystem. The platform enables a comprehensive real-time view of decision performance, third-party data and history, as well as automated analytics.  Through a unified digital experience, users can create the cloud solution as platform-as-a-service (PaaS) that best meets the needs of their business.

NEWS

Nationwide provider recognized for excellence in supporting more than 10,000 small businesses with fast, flexible funding

Parsippany, NJ — Jan. 12, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today congratulated its customer Reliant Funding for being recognized as a LendIT Fintech Industry Awards 2021 finalist.

The fifth annual LendIT Fintech Industry Awards honor the world’s leading influencers and innovators in 14 unique categories. Reliant Funding was named a finalist in the “Top Small Business Lending Platform” category, which honors organizations based on a combination of loan performance, volume, growth, product diversity and innovation.

Winners will be announced at an awards ceremony and dinner on Feb. 8, at the Dealmakers Summit held during the LendIt Fintech Nexus event at the Lowes Miami Beach Hotel in Miami.

Reliant Funding provides customized, short-term funding to small businesses nationwide via its Merchant Cash Advance (MCA) offering that is based on a company’s cash flow. Since 2008, more than 10,000 businesses have trusted Reliant to provide them with fast, flexible funding to fuel their success.

During the last year, Reliant transformed its funding process to be a more robust online experience enabling small businesses to apply, receive customized offers, and receive funding in their account in a matter of hours. As a result, Reliant has seen an increase in both the number of applicants and fundings.

“We are honored to be named a finalist in the prestigious LendIT Fintech Industry Awards, which is a testament to the hard work and dedication of our employees,” said Steven Kietz, Chief Executive Officer, Reliant Funding. “We are proud to employ leading edge technology, as with our partnership with Provenir, to help address the small business lending needs of our customers to foster their growth and further their business goals.”  

“Reliant Funding continues to set the industry standard with the speed in which a small business can apply for working capital lending to have funding available within hours,” said Kathy Stares, executive Vice President, North America, Provenir. “We congratulate Reliant Funding on being named a LendIT Fintech Industry Awards finalist and look forward to continuing to support the company by providing the technology to quickly evaluate credit risk and deter fraud to better serve its customers.” Provenir’s AI-powered decisioning software is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as integrated advanced analytics through AI models. Through one unified digital experience, users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

What is a decision engine and how does it help your business processes?