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Industry: Decisioning

Autochek Africa selects Provenir’s Risk Decisioning Platform to Accelerate Expansion

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Autochek Africa selects Provenir’s Risk Decisioning Platform to Accelerate Expansion

Provenir’s flexible platform allows Autochek to quickly expand into new geographies, reducing launch time by half.

London, UK, Sept. 12, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announces Autochek Africa, an automotive technology company, has selected Provenir’s Decisioning Platform to automate decisioning and accelerate its expansion efforts.

Autochek Africa provides solutions that enable commerce within the automotive sector including credit underwriting solutions for auto loans, for Autochek and third-party banks. Autochek also provides vehicle inspection, maintenance, insurance and vehicle tracking solutions. The company was seeking a robust platform with rapid deployment capabilities to automate all of their credit decisioning processes to support its strategic expansion into specific regions.

“To support our aggressive expansion strategy, we needed a partner with an agile and flexible platform and the ability to deliver within very short timelines,” said Johan van der Merwe, Chief Executive Officer, Autochek. “We have partnered with Provenir to automate decisioning for faster and more scalable approval processes. Within eight months, we were able to provide clients and dealers with pre-approvals, instalment simulations and loan application decisions, together with bespoke offers, in six countries. Provenir’s low-code platform provides us a competitive advantage, allowing us to quickly expand into our target geographies, reducing our launch time in many cases by almost half.”

“We are pleased to partner with Autochek Africa to help them quickly scale their operations and enter new markets,” said Adrian Pillay, Vice President, MEA at Provenir. “Provenir’s flexible platform provides Autochek with the self-sufficiency needed when launching new products to market, so they can scale faster than ever before.”

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Banking on Cloud and Digitalisation

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Banking on Cloud and Digitalisation

In the race to transform the banking industry, much has been said about how the industry is adopting digitalization in its approach. One essential digitalisation process that the banking sector, along with several other segments in the financial industry, uses is cloud migration technology.

The Star recently tapped industry experts, including Bharath Vellore, general manager, APAC for Provenir, to delve into the benefits of the cloud and how other technology such as mobile apps, AI, machine learning, big data, biometrics and chatbots are changing the customer experience.

This article was originally published on The Star, Keith Hiew, Author

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Automotive Financing Provider GoFi Selects Provenir’s Data and Decisioning Platform

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Automotive Financing Provider GoFi
Selects Provenir’s Data and Decisioning Platform

GoFi will benefit from Provenir’s powerful platform to support immediate responsiveness and the best customer experience

Parsippany, NJ —August 2, 2023 — Provenir, a global leader in risk decisioning software, announced today that GoFi, LLC, a leading U.S. consumer automotive financing provider, has selected and implemented Provenir’s Data and Decisioning Platform to assess applicant credit risk quickly for real-time financing approvals.

GoFi, LLC is an AI-centric, digital-first lending platform. Built on a proprietary loan origination system and powered by its integrated machine learning algorithms, GoFi provides auto-decisioned responses across the full credit spectrum. Through simple, intuitive offers, GoFi aims to help partners expand their brand impact and deliver a better customer experience.

“We selected Provenir for several reasons, most importantly, for the platform’s flexibility and customization options. It also allows us to quickly and easily integrate with many different platforms which will allow our business users to take the reins,” said Daniel Garland, Senior Director, GoFi. “We have been able to implement a fully customizable solution that meets our business needs with the vast majority of the implementation being done by our business users.”

“We are pleased to partner with GoFi to power the real-time risk decisioning needed to provide the very best customer experience,” said Kathy Stares, Executive Vice President, North America for Provenir. “From global car manufacturers to independent auto lenders, Provenir empowers auto financing providers of all sizes to make accurate decisions faster while minimizing risk and preventing fraud. Provenir’s data and decisioning capabilities enable our auto financing clients to respond on-the-fly to changing market dynamics and deliver real-time insights to inform smarter decisions.”

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Infographic: Transform Credit Risk Decisioning Challenges into Opportunities

INFOGRAPHIC

Transform Credit Risk Decisioning
Challenges into Opportunities

How to Ensure More Accurate, Agile Decisions

Whatever the financial services products you offer, there are common credit risk decisioning challenges – including data integration, model development, fraud prevention, lack of flexibility, and regulatory compliance. So how can you turn these decisioning challenges into opportunities? Discover how upgrading legacy decisioning technology can lead to a 20-40% decrease in credit losses and a 20-40% improvement in efficiency!

See how tbi bank is able to fuel their rapid growth and still ensure a customer-centric strategy

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RESOURCE LIBRARY

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Reality Check: Dispelling Three Key Myths to Upgrading Credit Risk Decisioning Technology

NEWS

Reality Check:
Dispelling Three Key Myths to Upgrading Credit Risk Decisioning Technology

Consumers are resistant to friction in their customer experience journeys, whether they are buying appliances, vacations, vehicles, or applying for credit. Next-gen data and decisioning technology is crucial for financial institutions to focus on growth while meeting consumer needs and expectations, and effectively managing risk. 

Unfortunately, there are a number of myths that persist in this area, eroding financial institutions’ ability to compete and thrive – and keeping consumers from the frictionless, rich and relevant experiences they deserve.  

In this Fintec Buzz exclusive, Kathy Stares, Executive Vice President of North America for Provenir, details these myths and offers practical steps to run a smarter race.

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How to Power Risk Decisions Faster than the Competition

ON-DEMAND WEBINAR

How to Power Risk Decisions
Faster than the Competition

Book a Meeting

In the race for customers, speed is everything – and your consumers demand it. But how can you deliver risk decisions and new banking products faster than the increasingly agile competition?

For financial services companies, data has never been more important, and real-time data access, automated decisioning and advanced analytics are key to remaining agile, innovative and responsive to industry trends.

In this webinar, hosted by FinTech Futures, our expert panel – featuring tbi bank’s Chief Credit Officer, Allica Bank’s Chief Product & Strategy Officer and Premier Bankcard’s Senior Vice President, Risk Services – discuss how you can overcome the challenges of upgrading legacy decisioning technology and evolving data security and compliance regulations to ensure you can adapt quickly to shifting consumer demands and stay ahead of the competition.

Watch now to learn:

  • How to mitigate risk, grow your revenue and improve the banking experience for your customers.
  • Why real-time data access and eliminating siloed data environments is critical for not only smarter risk decisions and improved fraud prevention, but also to provide a more holistic, inclusive view of your customers.
  • How advanced analytics like machine learning and AI can enable optimised decisioning across the entire customer lifecycle.
  • The ways upgrading your legacy decisioning technology can accelerate your journey to more modern risk decisioning.
  • How to choose technology partners that enable you to satisfy rapidly evolving compliance and security requirements.

Speakers:

  • Corinne Lleti

    Director General, Southern Europe, Provenir

  • Chris Thornton

    Senior Vice Presidnet, Risk Services, PREMIER Bankcard

  • Conrad Ford

    Chief Product and Strategy Officer, Allica Bank

  • Costin Mincovici

    Chief Credit Officer, tbi Bank


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5 Ways Credit Risk Analytics Can Help Your Business Make Better Decisions

BLOG

5 Ways Credit Risk Analytics
Can Help Your Business Make Better Decisions

In today’s rapidly changing business environment, companies need to make informed decisions to stay competitive. One way to achieve this is by leveraging credit risk analytics. By analyzing data related to credit risk, businesses can gain valuable insights into their customers’ financial behavior and make better decisions based on that data. In this blog post, we’ll explore five ways credit risk analytics can help your business make better decisions.

Better Understand Your Customers

  • Credit risk analytics can help you better understand your customers’ creditworthiness, payment history, and overall financial behavior.
  • This information can help you make more informed decisions when it comes to extending credit or setting credit limits.
  • Use credit risk analytics to segment your customers based on their credit risk profile, allowing you to tailor your offerings and pricing to meet their specific needs.

Mitigate Risk

  • Credit risk analytics can help you identify potential risks before they become major issues.
  • By analyzing data related to credit risk, you can identify customers who are more likely to default on payments or who have a history of late payments, helping you mitigate risk and avoid potential losses.
  • Use credit risk analytics to monitor your customer portfolios and identify trends or patterns that could indicate future risks across the entire customer lifecycle.

Optimize Pricing

  • By analyzing credit risk data, you can optimize your pricing strategies.
  • Identify customers who are more likely to default on payments and adjust your pricing accordingly to mitigate the risk.
  • Use credit risk analytics to determine the optimal pricing and loan terms for each customer segment, based on their unique credit risk profile.

Improve Collections

  • Credit risk analytics can help you improve your collections process – reducing collection costs and improving your cash flow.
  • By analyzing data related to credit risk, you can identify customers who are at risk of defaulting on payments and take proactive measures to collect payments before they become overdue.

Enhance Customer Experience

  • Credit risk analytics can help you enhance the overall customer experience.
  • With a better understanding of your customers’ financial behavior, you can tailor your products and services to meet their specific needs and preferences.
  • Use credit risk analytics to identify customers who are most likely to be interested in a particular product or service, and target your marketing efforts accordingly.
  • You can also personalize your customer interactions and offer customized solutions based on each customer’s unique credit risk profile.

By leveraging credit risk analytics, you can gain valuable insights into your customers’ financial behavior and make more informed decisions. Whether it’s optimizing pricing, mitigating risk, or improving collections, credit risk analytics can help you achieve your growth goals and stay competitive in today’s dynamic business environment. With the right credit risk analytics tools and strategies in place, your business can stay ahead of the curve and make the best decisions possible.

Discover how a data-driven, AI-powered approach to credit risk means smarter, more accurate decisions

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Provenir Revolutionizes Financial Decision Making with Data Driven, AI-powered Solutions

NEWS

Provenir Revolutionizes Financial Decision Making
with Data Driven, AI-powered Solutions

During a recent conversation with biztechasia, Provenir’s General Manager for APAC, Bharath Vellore, discussed the company’s low-code/no-code solutions that facilitate business innovation. He shares success stories of how Provenir has improved the data supply chain for financial service providers in areas like SME lending, auto financing, BNPL, and mortgages, emphasizing how data is essential in resolving Asia’s financial inclusion challenge. Bharath also spoke about the power of artificial intelligence in helping the financial services industry make better decisions and how Provenir stands tall in the face of competition.

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CXOToday Interview: Provenir’s Risk Decisioning Software Powered by Data, Built to Manage Risks

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CXOToday Interview:
Provenir’s Risk Decisioning Software Powered by Data, Built to Manage Risks

In this exclusive interview with CXOToday, Varun Bhalla, Country Manager for Provenir India, shares his thoughts on key disruptions in the financial sector, how AI is transforming the credit risk decisioning process and the role of technology and innovation in Provenir India’s growth strategy.

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Customer-Centric Risk Decisioning in Digital Lending: Insights from Australian Lenders

ON-DEMAND WEBINAR

Customer-Centric Risk Decisioning in Digital Lending: Insights from Australian Lenders

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In the digital lending landscape, customer experience has become a key differentiator for lenders in Australia. And with more than half of borrowers expecting personalized offers, how can digital lenders prioritize customer experience and balance risk management at the same time? Adopt a customer-centric approach with advanced risk decisioning that combines the power of data-driven credit risk decisioning technology. 

In this webinar from Provenir and Fintech Australia, our panel of experts, including Clayton Howes – CEO, MoneyMe, Joanne Edwards – Chief Risk and Compliance Officer, Wisr and Bharath Kumar Vellore – General Manager APAC, Provenir, will share case studies and explore strategies for enhancing borrower experience through effective risk decisioning in digital lending operations in Australia. 

Watch now for insights on:

  • Leveraging customer data such as financial data, credit history, and behavioral data for risk assessment and credit decisioning
  • Tailoring lending solutions to enhance the borrower experience with personalized offers including loan amount, interest rates, and repayment terms
  • Balancing risk management and customer experience to optimize the risk decisioning process to cover regulatory compliance and fraud prevention while enhancing customer satisfaction
  • Implementing technology such as data analytics, artificial intelligence, and machine learning for streamlined, customer-centric risk decisioning


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