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Industry: Data

Alternative Data in Credit Decisioning: Meeting the Demands of the Expanding Canadian Financial Services Market

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NEWS

Alternative Data in Credit Decisioning:
Meeting the Demands of the Expanding Canadian Financial Services Market

It’s a challenging time in the Canadian market. Between high interest rates, inflation stubbornly sticking at close to 4% and consumers’ fear of a potential recession starting to curb spending, it’s hard to find the growth we need to fuel our businesses. At the same time, competition has never been stiffer. In this op-ed, Cheryl Woodburn, Country Manager for Canada at Provenir, shares two market trends that are offering growth opportunities for all types of lenders.

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The Ultimate Guide to Decision Engines

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Provenir Named Winner of ‘Data Initiative of the Year’ in the 2023 US Fintech Awards

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NEWS

Provenir Named Winner
of ‘Data Initiative of the Year’ in the 2023 US Fintech Awards

The company’s AI-Powered Risk Decisioning platform continues to garner industry accolades for excellence in driving success for financial institutions in 50 countries worldwide

Parsippany, NJ – Nov. 6, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announced that it has been named winner of the “Data Initiative of the Year” category for the 2023 US Fintech Awards. Winners were unveiled during an awards ceremony at The Edison Ballroom in New York City on Nov. 2.

The US Fintech Awards is a key benchmark by which financial services modernization and technological progress in the world’s premier financial services center are judged. The awards program is organized by FinTech Intel, the global market intelligence platform for financial services technology.

“This is a tremendous honor for Provenir and we thank the judging panel for recognizing the innovation our technology delivers to financial institutions in decisioning at every turn throughout the customer lifecycle,” said Kathy Stares, Executive Vice President for North America, Provenir. “Through a unique combination of universal access to data, simplified AI, world-class decisioning technology and holistic case management capabilities, Provenir provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle.”

Provenir brings together the power of decisioning, data, AI and case management via its AI-powered Risk Decisioning platform. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

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TDS Mini: Reducing Biases with Alternative Data and AI

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PODCAST

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.

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Today’s Data Will Not be Enough Tomorrow

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NEWS

Today’s Data Will Not be Enough Tomorrow

Listen in to the Mexico Business Now podcast featuring José Luis Vargas, Executive Vice President and General Manager, LATAM for Provenir as he discusses how the fintech sector in Mexico is leveraging real-time decisioning solutions to drive innovation, improve financial services access, and cater to the evolving needs of the population.

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The Ultimate Guide to Decision Engines

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Provenir Named ‘Data Company of the Year’ in the Tearsheet Data Awards 2023

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NEWS

Provenir Named ‘Data Company of the Year’
in the Tearsheet Data Awards 2023

Provenir’s AI-Powered Risk Decisioning Platform is recognized for excellence as one of the best data products, services, and brands powering the modern financial system

Parsippany, NJ – September 12, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announced that it has been named “Data Company of the Year” in the Tearsheet Data Awards 2023. Provenir’s AI-Powered Risk Decisioning Platform is used by fintechs and financial institutions in more than 50 countries to process more than 4 billion transactions annually.

The Tearsheet Data Awards is the industry’s top awards program, recognizing and celebrating the best data products, services, and brands powering the modern financial system. As apps and institutions further integrate, data and data sharing have become the building blocks of modern finance. Entire ecosystems are being built around financial institutions and fintechs that incorporate rich and impactful information about their customers.

“Provenir is pleased to be recognized as ‘Data Company of the Year’, as fintech innovation has exploded across every part of financial services, creating a customer-first world that demands more from data,” said Kathy Stares, Executive Vice President, North America, for Provenir. “Provenir’s AI-Powered Risk Decisioning Platform delivers automated decisioning, providing more informed decisions across the customer journey. With data more accessible and usable, financial services organizations can automate complex decisions by turning predictions into decisions that drive world-class customer experiences.”

The Ultimate Guide to Decision Engines

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Fireside Chat: Maximizing Member Experiences with Better Technology, Data + Automation

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ON-DEMAND WEBINAR

Fireside Chat:
Maximizing Member Experiences with Better Technology, Data + Automation

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How Real-Time Data Can Power Instant Decisions and Superior Member Experiences

Do you find it challenging to balance your members’ increasing demands for fast, automated approvals, with the personal, friendly experience you’re known for? You aren’t alone. But utilizing technology that enables better consumer experiences and the automation of data integration and credit risk decisions can help – ensuring speed and agility, while still offering a more personalized member experience. 

Join Provenir and Inovatec for a fireside chat where we’ll be sharing insights on how better data means better decisions – for your business and for your members. 

Key Highlights:

  • Gain valuable insight into the latest consumer and industry trends, including specific case study examples
  • The ways integrating real-time data, including alternative data sources, can help you manage risk, explore new channels via custom portals, and respond to market changes faster
  • How to utilize advanced analytics to optimize pricing and make more personalized offers to your members
  • Why a unified solution for data and decisioning drives the agility and flexibility needed to power exceptional member experiences
  • How to improve fraud detection and prevention with real-time data access so you can focus on your creditworthy members
  • Ways to maximize the value of your members beyond onboarding, including post-loan management, personalized upsell/cross-sell/renewal offers, collections strategies and more

Speakers:

  • Bob Metodiev

    Inovatec, Head of Business Development

  • Cheryl Woodburn

    Provenir, Country Manager, Canada

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Maximizing the Value of Your Customers: Better Data = Better Results

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ON-DEMAND WEBINAR

Maximizing the Value of Your Customers:
Better Data = Better Results

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With a shifting economic landscape and increasingly high expectations from consumers (including instant credit approvals, rapid onboarding, personalized offers, and superior experiences), how can lenders enable growth across their lending portfolio while still mitigating risk? The key is data.

Better data = smarter, more accurate risk decisions, at onboarding and beyond. In this discussion, we’ll look at how the right data is key for lenders to generate revenue growth and maximize the value of both prospects and current customers.

Key takeaways:

  • Improving fraud detection and prevention with real-time data access so you can say yes to more creditworthy customers
  • How to ensure more accurate underwriting, so you can continue to grow your revenue, even in challenging economic times
  • Ways to maximize customer value beyond onboarding, including post-loan management, personalized upsell/cross-sell/renewal offers, collection strategies and more
  • Industry trends, including embedded finance and open banking – and why the right data is key to success

Speakers:

  • Kathy Stares

    EVP Americas, Provenir

  • Al Periu

    CEO Americas, Zilch

  • Chris Martin

    VP Head of Digital Product, Regional Finance

  • Bridget Hussain

    VP Consumer Lending, UNFCU

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Working with Alternative Data: A Roadmap

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NEWS

Working with alternative data:
A Roadmap

Alternative data helps lenders score previously difficult-to-serve groups like thin- and no-file customers. Lenders seeking to serve those client groups need the right technology in place. In this interview with Fintech Nexus, Kathy Stares, Executive Vice President, North America for Provenir, discusses the value of alternative data, the types of technology needed to extract the most value and how organizations can prepare to best leverage insights from alternative data and maximize their benefits from technology.

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Shining the Light on Credit Invisibility with Alternative Data

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NEWS

Shining the Light on Credit Invisibility
with Alternative Data

Many individuals around the globe lack a traditional credit history. It’s estimated that nearly 80 percent of adults worldwide are either underbanked or unbanked. Without acknowledging this and taking the requisite action, the industry will remain prejudicial and oppressive by default. But a desire to change must be paired with the capacity to push credit decisioning to the edge.

In this Financial IT article, Kathy Stares, Executive Vice President, North America for Provenir, shares her observations on how lenders can overcome bias, ensure equal access to credit – even for those without formal credit histories – without sacrificing their risk strategy.

The Ultimate Guide to Decision Engines

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Enhancing Financial Inclusion in the Digital Era: Redefining Africa’s Digital Banking Future with Data and AI

Written by Amy Sariego on . Posted in Resource, Webinars. No Comments on Enhancing Financial Inclusion in the Digital Era: Redefining Africa’s Digital Banking Future with Data and AI

ON-DEMAND WEBINAR

Enhancing Financial Inclusion in the Digital Era:
Redefining Africa’s Digital Banking Future with Data and AI

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As Africa’s digital landscape continues to evolve, the use of data and AI in banking has become increasingly important in driving and enhancing financial inclusion across the continent. Today, as many as 57% of Africans and up to one-third of all adults globally lack any type of bank account, making it difficult to evaluate creditworthiness using traditional methods. This large population of unbanked individuals represents significant growth for innovative organizations.

How can fintechs and digital banks begin this journey to remove barriers to financial inclusion and expand their potential audiences? By combining data with the power of AI, financial service providers can leverage new insights to support financial inclusion while mitigating risk.

Our panel of experts will discuss how financial service providers are doing just that to redefine banking services and products that cater to the unique needs of the unbanked and underserved populations in Africa.

Topics include:

  • Understanding how simplified access to alternative and non-traditional data can reshape your business
  • How the current approach to determining risk profiles impacts the unbanked population and gaps using only traditional data leaves in determining credit risk
  • How alternative data and advanced analytics can catalyze financial inclusion while reducing risk and fraud
  • The role of alternative data in the larger picture of tech-enabled financial inclusion
  • Actionable steps you can take to incorporate alternative data into your decisioning

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