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?

NEWS

Financial health startup takes the top honor in the “Serving the Underserved” category

Parsippany, NJ – Nov. 15, 2021 – Provenir, a global leader in data analytics software and risk decisioning, today congratulated its customer SeedFi  for winning the Tearsheet Challenger Awards 2021. Tearsheet’s Challengers Awards are the financial industry’s top awards program focused on digital banking.

SeedFi, along with its banking partner Cross River Bank, was selected as the winner in the “Serving the Underserved” category which recognizes and celebrates the companies and products that are enabling underserved consumers to build credit, save, and get immediate cash at responsible interest rates.

This is a critical juncture in the history of finance where the lives of more than 100 million people can improve faster than at any other time in history if they are given the tools needed to strengthen their financial position so they can overcome hardships. SeedFi was created to deliver these tools, helping consumers escape the endless cycles of debt, while securing a more promising financial future.

“According to a 2019 report by the Federal Reserve, 22% of American adults are either unbanked or underbanked, representing a challenge for those consumers to build credit,” said Kathy Stares, executive vice president, Americas, Provenir. “SeedFi is actively changing this dynamic through its innovative solutions that enable the underserved to borrow, save, and build credit. We congratulate SeedFi on the well-deserved honor of winning the prestigious Challenger Awards 2021.”

Provenir’s flagship product, Provenir AI-Powered Risk Decisioning Platform, is the industry’s first, true risk-decisioning ecosystem, powering SeedFi’s product offerings. The Provenir AI-Powered Risk Decisioning Platform provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience offering four cloud products — decisioning, data, insights and solutions —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?

NEWS

Large-format retailer and finance company named finalist in the “Best Example of Customer Implementation of Embedded Finance” category

Parsippany, NJ, Nov. 12, 2021 –Provenir, a global leader in data analytics software and risk decisioning, today congratulated its customer Curacao for being recognized as a Tearsheet Embedded Awards 2021 finalist in the “Best Example of Customer implementation of Embedded Finance” category for expanding financing services to help generations of underbanked consumers.

The nature of the financial institution is changing and embedded finance turns every app, software, retailer, and business into a bank. Tearsheet’s Embedded Awards are the financial industry’s top awards program focused on embedded finance, recognizing the best, most innovative players in the embedded finance and banking as a service space.

Curacao, formerly called La Curacao, began as a small local retail store in 1980 catering primarily to the Latino community in Los Angeles and has since expanded its retail footprint 13 stores and growing in Southern California, Arizona and Nevada. Contributing to Curacao’s growth is its ability to offer leading consumer product brands and services, including its own innovative export, travel and money transfer services, all accessible through its Curacao Credit offering.

Curacao has made credit available and accessible to more than two million customers, enabling them to access the products they need to live their best lives today. By partnering with leading technology and data partners such as Provenir, the company continues to open and streamline the channels for customer acquisition and servicing.

“Curacao continues to innovate and evolve its servicing and decisioning platforms to offer consumers hyper convenience and ubiquitous access to services that meet their current and future needs,” said Kathy Stares, Executive Vice President, Americas, Provenir. “We congratulate Curacao on their recognition and look forward to continuing to support Curacao’s growth by delivering real-time risk decisioning technology that enables the company to easily design, build, and deploy solutions to solve complex business challenges such as retail financing and credit card management.”

Provenir’s flagship product, Provenir AI-Powered Risk Decisioning Platform, is the industry’s first, true risk-decisioning ecosystem,  powering Curacao’s offerings. The Provenir AI-Powered Risk Decisioning Platform provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience offering four cloud products — decisioning, data, insights and solutions —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?

NEWS

Instabank Deploys Provenir Cloud to Challenge Traditional Lending

Instabank uses Provenir’s cloud-based Risk Analytics and Decisioning to provide a real-time, digital lending experience for its Scandinavian customer base.

Instabank, often dubbed a ‘Challenger Bank,’ is among a new breed of financial services that is taking hold of technology to meet the increasing demand for simplified, digital-first banking experience. The bank is using Provenir’s technology to aggregate credit applicant data from structured and unstructured data sources, including credit bureaux and its core banking system, to provide customers with an instantaneous credit decision.

“Our entire approach is built on simplifying banking, making the customer’s experience very fast and effortless; from the customer-onboarding process through every subsequent interaction,” says Robert Berg, CEO, Instabank. “With the speed and flexibility of the Provenir Platform driving our credit decisioning, our customer is able to apply for a loan while she’s on her lunch break and receive an approval immediately.”

Instabank relies on the vertical and horizontal scalability that the Provenir Platform provides to geographical expansion across Europe. Berg adds, “The nature of our business requires an analytics and decisioning engine that places the control in our hands to manage and configure business logic or credit policy as the company grows. Provenir gives Instabank that control in every aspect – from the ability to operationalize our analytic models down to the visual integration tools.”

“Provenir Cloud is a great fit for Instabank as the digital lending landscape becomes more competitive in Europe,” says Paul Thomas, Managing Director, Provenir. “We understand how increasingly important it is for the Challenger Bank to grow its online lending capabilities quickly and we’re pleased that Instabank is using Provenir to expand the lending experience for its customers.”

About Instabank
Instabank ASA is a new Norwegian digital bank, launched in September 2016, with headquarters in Oslo. The Bank’s vision is to create the best customer experience in the market by simplifying the use of banking services. Instabank offers favorable savings and unsecured loans to individuals. In addition, our team is working constantly to develop new products and services that will simplify the way consumers use banking services. The bank is primarily owned by Norwegian investors, and there is no single shareholder owning more than 10% of the company. “We do not think like a bank, we think like you.”

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

NEWS

White Oak Chooses Provenir Cloud to Power Business Lending

Provenir supports independent business lender White Oak with a cloud-based risk analytics platform to power its business lending credit decisioning process.

Provenir, a global leader in risk decisioning and data analytics software, announced today that White Oak has chosen Provenir technology to support its digitization and innovation strategy, accelerating a move to a fully automated origination process across its business loans and asset finance products.

Nick Isaacs, Chief Risk Officer, Leases and Loans, at White Oak said, “For over 30 years, we’ve been helping thousands of entrepreneurs and small businesses across the UK by helping them with their working capital needs. As an accredited CBILS lender, we are continuing to see higher volumes of applications via our direct and aggregated channels, and we are committed to delivering the smoothest lending experience possible.”

“We have chosen Provenir to ensure we have the best technology in place to provide our clients with a better service. This partnership allows us to make real-time risk decisions with a fully automated lending experience. Provenir has an impressive track record in the industry and their low-code platform will give us the flexibility to build new models, integrate new data sources easily and enhance our underwriting process.”

Chris Kneen, Sales Director at Provenir adds, “We are delighted to be supporting White Oak with our cloud-based risk analytics platform. They are playing a crucial role in the UK SME finance market right now and have a clear vision to further disrupt the way businesses can access funds with little fuss – adopting our agile technology to enhance the speed and accuracy of credit decisions is a key component of their innovation strategy. We’re really excited to have White Oak onboard to our cloud-based solution which will complement their first-class customer service.”

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

NEWS

Flexiplan selects Provenir to automate real-time risk decisioning for motorcycle finance

Miami, Florida – September 16, 2020 – Provenir, a leading risk analytics software company, today announced Flexiplan as a new client in San Salvador, El Salvador. Flexiplan is a motorcycle lending company that provides financial solutions to help clients improve their day-to-day activities across three key areas: mobility, productivity, and quality of life.

In the pursuit of growing its business, Flexiplan chose Provenir to meet all of its credit risk decisioning needs including real-time loan approval, automation, and easy API integration. With more efficient decisioning processes, Flexiplan will be able to more effectively manage risk, giving it the agility to respond to its customers through its digital platform and point of sale.

Tito Gutiérrez, Country Director of Flexiplan, emphasized: “At Flexiplan we believe that flexible credit, enabled by the modern technology, is a powerful tool that promotes commerce and a better quality of life for consumers. With its best-in-class technology for global financial companies, Provenir will be one of our strategic partners helping us operationalize risk models and provide real-time solutions to the market.”

Gabriela Herrera, Business Development Manager for Latin America, highlighted: “We are delighted to have Flexiplan as our first client in El Salvador. It is a pleasure to help them replace the manual processes and support its digitization journey. Provenir’s powerful Platform will not just power automation of the risk decisioning process in real-time to approve loans in milliseconds, but will also drive business growth. Companies like Flexiplan represent a great opportunity for Provenir and we are happy to have them as part of our expansion in Latin America.”

Provenir—through its innovative product—helps startups, Fintechs, and financial institutions with the digital transformation process. In the case of Flexiplan, it will help mitigating credit risk, as well as improving the loan approval rate for motorcycle financing.

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