For too long, the lending industry has struggled with inefficiencies and long delays, resulting in a less than satisfactory experience for customers. In this Times of India article, Varun Bhalla, Country Manager for Provenir, shares how AI and machine learning are changing the lending landscape, helping businesses make more accurate, faster risk assessments, support financial inclusion, detect and prevent fraud, and improve customer satisfaction, loyalty and retention.
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
More than 70% of South-East Asian consumers remain underbanked (or unbanked) today. And when it comes to SMEs, millions of small and mid-size companies are unable to get the funding they need to operate and grow. Enter in digital lending, where AI, open banking and embedded finance are creating the opportunity for innovation in credit assessment, lending, and the customer experience.
Join our discussion with Bharath Vellore, GM of APAC at Provenir, and Aditya Chintawar, Chief Product Officer at KoinWorks, a pioneering financial Super App in Indonesia. Bharath and Aditya will chat about the current state of the economy in APAC, its impact on the lending experience, and how to build world-class digital financial/lending experiences with tech advancements like AI/ML, real-time data, and automated risk decisioning.
Highlights of the conversation include:
How to meet customers’ rising expectations and find growth opportunities, while still efficiently managing risk.
The strategies we’ve found most effective in adapting to rapidly changing market dynamics.
Ways that data can be accessed and integrated more effectively for risk management and business growth.
The continued growth of Buy Now, Pay Later, and how it can encourage financial inclusion for the underserved.
Why digitizing the lending application process and automating credit decisioning can provide faster, more accurate approvals and experiences for your customers.
How to use AI-powered credit decisioning to optimize decisions across the entire customer lifecycle and maximize business impact.
The rise of Super Apps and what it means for the future of lending.
Did you know that the earliest form of Buy Now, Pay Later dates back to the 19th century, when consumers were able to purchase expensive goods (like furniture and farm equipment) on installment plans? While modern lending is often thought of as, well, modern, some of the technologies that impact our current financial services landscape have much older roots. Check out the infographic for some interesting factoids on the history of lending, the rise of modern technology, and just how far we’ve come in the world of lending.
The Ultimate Guide to Decision Engines
What is a decision engine and how does it help your business processes?
Despite SMEs representing an overwhelming majority of businesses (and jobs) globally, they struggle to gain access to credit. Fintechs are rising to the SME lending challenge, with automated risk decisioning technology that provides instant approvals and speeds up funding from 10+ weeks to only HOURS. Is your decisioning tech up for the challenge?
Read the infographic to learn more on moving your SME lending process into the fast lane.
Online lending is a prime example of an industry tackling the ever-present issue of ease of customer journey vs secure customer identification.
Online applications are a perfect testing ground for cybercriminals to attempt to commit fraud so organizations must ensure their defences are resilient enough to only approve good customers.
Yet, new sources of data provide exciting new opportunities for both fintech companies and banks to provide a super streamlined process. In this webinar, you’ll learn:
Key market trends
How and why the fraudsters target online lenders
Ways in which to differentiate bad users from legitimate users
Challenges faced with regard to data and ID verification
How to develop the best strategies to combat online fraud
The most useful technologies available at your disposal
Auto Financing – Drive a Better Consumer Experience
Auto Financing – Drive a Better Consumer Experience
Did you know that all it takes is 90 minutes in a dealership for customer satisfaction to decline? Whether your customers are purchasing cars, trucks, motorcycles, RVs or even boats, the faster and smoother you can make the experience, the better. Get in the fast lane and discover how to accelerate the auto lending experience with automated risk decisioning tools.
Make your auto financing process more like Netflix, and less like Blockbuster. Download our ‘Netflixing Auto Financing’ eBook to learn more.
The Intersection of Credit Cards + Buy Now, Pay Later
How to Work Together to Accelerate Growth
62% of current Buy Now, Pay Later customers think it could replace their credit cards. But where does that leave credit cards? Discover how BNPL and the credit card industry can work together to encourage responsible lending, financial inclusion and profitable growth.
Back to the Future: 8 Features of Fast and Future-Proof BNPL Technology
Automated data aggregation and decisioning, real-time time approvals and advanced analytics – learn more about accelerating the auto lending process for a superior customer experience.
Your business entered 2020 with a clear roadmap, a plan to take you to your chosen goal by the end of the year. However, those plans were made in a world that looked very different than today.
From economic uncertainty to rapidly changing consumer behavior, financial services organizations are under more pressure than ever to create user-friendly experiences that are accessible from anywhere.
In this live virtual panel industry leaders from Informa Financial Intelligence, Capital One, and TMX Financial Services explore the subject: In a world post Covid-19 is your business roadmap still relevant?
Watch the recording of this live knowledge-sharing event to hear the panelists discuss:
Key factors that impact your revised 2020 roadmap
Should your priorities change
Selecting the right destination and goals for today’s world
Evolving digitization priorities
Accelerating the digital journey
Speakers:
Brendan Deakin
VP Sales, Provenir
Rutger Van Faassen
VP of Consumer Lending, Informa Financial Intelligence
Jessica Liu
Product Strategy & Analytics, Product Growth, Capital One
