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Industry: Financial Services

The History of Credit Scores: Infographic

INFOGRAPHIC

The History of Credit Scores

The term ‘credit score’ is often thrown around when it comes to financial services and products, but what does it really mean?

There’s a lot to know about how credit scores impact the way the average person goes about their day-to-day life. Whether you’re signing up for your first credit card or looking to apply for a mortgage, your credit score plays a huge role in determining whether you’ll be able to achieve some of your financial goals. 

Something just as important – and a term as equally thrown around – is a credit report. Your credit report determines how much interest you’ll have to pay back on loans, credit cards, and mortgages and whether you’ll be approved for them in the first place. 

Credit scores and reports as we know them have only been around for a few decades but are part of a long history of merchants, lenders, and decision engines. Here, Provenir explores when credit scores were invented, how they’re calculated, and how consumer credit reporting works, so you can know more about your money. 

Read on for your no-nonsense guide to all things credit.

When were credit scores invented and how does credit scoring work?

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4 Ways to Boost Hyper-Personalization for Financial Services

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4 Ways to Boost Hyper-Personalization
for Financial Services

Many established financial services organizations struggle to provide the hyper-personalization today’s consumers demand. In this CMSWire feature, Kathy Stares, Executive Vice President, North America for Provenir joins other experts in offering insights on tapping into and improving those hyper-personalized experiences.

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Ten Companies Using Alternative Data for the Greater Good

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Provenir Expands Presence in Middle East and Africa with New Prominent Appointment

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Provenir Expands Presence in Middle East and Africa with New Prominent Appointment

Industry veteran appointed to meet growing demand for its products and services

Parsippany, NJ — Sept. 21, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced today that Adrian Pillay has joined as Vice President of Sales for Middle East and Africa as part of the company’s expanding investment in the region to meet growing demand for its AI-driven risk decisioning platform.

Adrian brings more than 20 years of experience implementing successful go-to-market strategies and building key partnerships in numerous financial markets. He has served in a variety of leadership roles at FICO, TransUnion, Experian, Dun & Bradstreet and Accenture. Adrian joins existing sales associates Elias Gitau and Tatenda Nigel Chinodakufa and is quickly building out a broader sales and go to market team to service the region. 

“The number of fintechs in Africa is exploding with thousands being set up every year,” said Geoff Miller, Chief Commercial Officer for Provenir. “These fintechs are raising record investments as they seize the opportunity to provide a more responsive customer experience. According to McKinsey, nearly two-thirds of Africa’s 1.3 billion people do not have a bank account or full access to financial services, and 90% of all transactions on the continent are still cash-based. The opportunity to provide digital finance to this underserved population is enormous, and Provenir’s AI-powered decisioning platform can quickly help fintechs extend financial services to previously unbanked individuals.”

Nigerian consumer fintech company Carbon is leveraging Provenir’s technology to bring transformative change to the payments industry in Africa. “Delivering on customer expectations and providing a superior experience that is safe and reliable is a key priority. Partnering with Provenir allows us to give customers greater access to credit and quality financial services and we look forward to helping reshape the overall payment experience,” said Ngozi Dozie, Co-founder of Carbon.

Commenting on his appointment, Adrian said: “This is a time of unprecedented growth and disruption across the Middle East and Africa and Provenir has a very compelling solution that fits perfectly in this landscape. I am excited to join the company and help the team meet the growing demand for AI-driven risk decisioning solutions.”

Provenir’s industry-leading AI-Powered Decisioning Platform uniquely combines universal access to data, simplified AI, and sophisticated decisioning technology. This provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle – with diverse data for deeper insights, optimized decisions, and a continuous feedback loop for constant improvement.

The Ultimate Guide to Decision Engines

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

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The Fintech Times: What is Holding Back Financial Inclusion?

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The Fintech Times:
What is Holding Back Financial Inclusion?

Financial inclusion and financial capability continue to be top priorities for global governments and financial services providers. Kim Minor, Senior vice President, Global Marketing for Provenir, shares her perspective on the role data and AI can play in closing the gap to inclusive finance.

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The Ultimate Guide to Decision Engines

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

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Driving Growth in an Economic Slowdown

ON-DEMAND WEBINAR

Driving Growth
in an Economic Slowdown

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Hear from Provenir and TransUnion Experts

The Canadian economic landscape has changed dramatically this year. Recent increases in inflation and interest rates have driven uncertainty and volatility into the market and fraudsters are growing more and more sophisticated – digital fraud attempts rose a whopping 218% in Canadian financial services from late 2021 to early 2022. On the flip side, unemployment is at its lowest rate in decades and immigration hit an all-time high in 2021, opening up more opportunities to extend credit.

Watch now aas leaders from TransUnion and Provenir share their outlook on the current state of the Canadian economy and discuss how lenders can use data and AI to become more agile in meeting customers’ needs and capitalize on growth opportunities, while efficiently mitigating risks.

Tune in to:

  • Discover strategies needed to quickly react to changing market dynamics
  • Identify opportunities for growth through financial inclusivity
  • Understand how data can be used for growth as well as risk management
  • Learn about new trends in fraud and how to mitigate business exposure

Speakers:

  • Matt Fabian

    Director, Financial Services Research and Consulting, TransUnion Canada

  • Cheryl Woodburn

    Country Manager, Canada, Provenir


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Infographic: Driving Instant Risk Decisions for SME Lending

INFOGRAPHIC

Driving Instant Risk Decisions for SME Lending

How to Accelerate Your SME Lending Process

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.

Need more info on how to drive real-time approvals for SME lending?

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SME Lending: The Road To Real-Time Approvals

SME Lending: The Road to Real-Time Approvals

How to Build World-Class SME Lending Experiences
Thirty-two percent of SMEs now work with online lenders for business credit. Convenience, efficiency and the ability to get rapid approvals make working with digital lenders an obviously attractive choice. If you aren’t making it easy for SMEs to get the credit they need, your competitors will.
Discover how to:
  • Power quick and easy applications
  • Automate processes for real-time approvals
  • Lower the cost of loan origination
  • Use predictive analytics to keep risk in check
Check out the eBook and learn how to accelerate your SME lending and pave the way for world-class lending experiences.

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RESOURCE LIBRARY

Maslow
Event ::

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Webinar ::

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Event ::

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Redefining Intelligent Financial Services

ON-DEMAND WEBINAR

Redefining Intelligent
Financial Services

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Join the conversation during our monthly fireside chat with a panel of industry experts as they discuss their best practices and experiences while answering your questions on hot topics that matter to you.

No PowerPoints. No scripts. No sales pitches.

Our first session will feature a discussion between Flinks and Provenir on how intelligent financial services have evolved—and where they’re going next.

In this session, you’ll learn:

  • What are intelligent financial services?
  • What are industry leaders doing differently?
  • How are leaders redefining the industry?
  • Three key considerations in credit decisioning.


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Welcome Home: The Benefits of Unified Access to AI-Powered Decisioning + Data

EBOOK

Welcome Home: The Benefits of Unified Access to AI-Powered Decisioning + Data

What if your decisioning technology came with the same benefits as a smart home system?

Are you working with multiple products, vendors and UIs in order to make decisions? What if you could have a single user interface to manage all of your technology solutions and save you from a disjointed, incomplete view of the credit risk lifecycle?

Check out our latest eBook and discover how one unified solution for data and AI-powered decisioning can change the way you think about your risk strategy. And bring you to the forefront of tech innovation, just like today’s smart homes.

Learn how unified access offers:

  • Built-in controls to manage risk, security and identity
  • Preconfigured data integrations to get you up and running quickly and easily
  • Flexibility to expand as your needs evolve
  • Automation to improve efficiency and power better user experiences

Ready to get smarter?

The Ultimate Guide to Decision Engines

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

Read the Blog

RESOURCE LIBRARY

Maslow
Event ::

Navigating South Africa’s Debt Crisis...

Navigating South Africa’s Debt Crisis: Strategies for Recovery and Engagement ...
fraud alert
Webinar ::

Stop Fraudsters in Their Tracks – Bef...

Stop Fraudsters in Their Tracks – Before They Strike Watch ...
Enabling Responsible Growth and Customer Trust in Malaysia’s Digital Lending Landscape through Data-Driven Insights
Event ::

Enabling Responsible Growth and Custo...

ProvenirNext Roundtable Enabling Responsible Growth and Customer Trust in Malaysia’s ...
fraud
Webinar ::

Rethinking Fraud Prevention in the Mi...

On-Demand Webinar Rethinking Fraud Prevention in the Middle East & ...
blog selfie
Blog ::

Beyond the Selfie: Why Digital ID&V I...

A solution needs to bridge the gap left by primary ...
Kuala-Lumpur
Event ::

Empowering Digital Finance Through AI...

Join Provenir at The Digital Banker’s premier event in Kuala ...
Bai news
News ::

Beyond Detection: An AI-Powered Appro...

Beyond Detection: An AI-Powered Approach to Proactive Fraud Prevention Financial ...
Australia
Event ::

Enhancing Customer Lifetime Value and...

Roundtable & Cocktail Hour Enhancing Customer Lifetime Value and Trust ...

Continue reading

Navigating the Future: Unveiling the Keys to Successful Digital Transformation in Financial Services

ON-DEMAND WEBINAR

Navigating the Future:
Unveiling the Keys to Successful Digital Transformation in Financial Services

Book a Meeting

In the dynamic landscape of the financial services industry, digital transformation has become imperative for organisations seeking to thrive in the digital age. We explore the essential keys to achieving a successful digital transformation journey within the financial services sector.

Leading industry experts will delve into the intricacies of this transformative process, addressing key challenges and providing actionable insights to guide financial institutions towards a digitally empowered future.

Key takeaways from the live discussion: 

  • How digitalisation is impacting financial services and how these institutions are being fundamentally challenged to keep up in today’s increasingly digitally focused market
  • Strategies for aligning organisational goals with digital objectives to foster a culture of innovation
  • The importance of placing customers at the centre of digital transformation efforts
  • Learn how to leverage customer insights, data analytics, and personalised experiences to enhance overall satisfaction and loyalty
  • Gain insights into building a robust technological infrastructure that supports scalability, agility, and seamless integration
  • Discuss best practices for continuous monitoring, evaluation, and adaptation in the digital era

 Embark on a successful digital transformation journey, to ensure sustained growth and competitiveness in an ever-evolving landscape.

Speakers:

  • Peer Timo Andersen-Ulven

    Head of Analytics, Avida 

  • Keshnie July

    Credit Risk Practitioner

  • Jun Wai Des Lee

    Principal Consultant, Provenir

Moderator:

Adrian Pillay

VP-Sales, MEA & Turkey, Provenir


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