Industry: Provenir

Provenir Achieves Significant Revenue and Customer Growth in 2022: Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

Written by Amy Sariego on 14 Feb, 2023. Posted in News. No Comments on Provenir Achieves Significant Revenue and Customer Growth in 2022: Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

NEWS

Provenir Achieves Significant Revenue and Customer Growth in 2022:
Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

The company adds new customers around the globe and grows its employee count as it continues expansion in key markets worldwide

Parsippany, NJ — February 14, 2023 — Provenir, a global leader in data and AI-powered risk decisioning software, today announced strong growth in 2022, achieving 35 percent growth in revenue and expanding its customer base by 24 percent, adding new customers worldwide including AMU Leasing, AutoChek, Davivienda, DeltaPay, Investree, Provu, Quick Finans, Topi and Varo.

Provenir also grew its global workforce, appointing industry veterans in senior sales and leadership roles to support the company’s continued growth in key markets, including Latin America, Africa, Middle East, Europe, Canada, and India, with expansion into France, Germany, Italy, Spain, Turkey, the Balkans and Benelux; Colombia, Brazil and Mexico; and Indonesia, the Philippines and Vietnam.

Provenir also established a new global technology and operations hub in India to meet the growing demand from fintechs and financial services providers for the company’s industry-leading AI-powered data and risk decisioning software for real-time credit decisioning. The hub serves as a centralized location for Provenir global technical teams to develop new solutions to solve customers’ most significant challenges.

“I’m incredibly proud of Provenir and our talented global workforce as we celebrate a year of exciting milestones and continued growth,” said Larry Smith, Founder and CEO of Provenir. “Our results, despite uncertain economic conditions globally, underscore the fact that fintechs and financial services providers need a flexible platform that can provide deep insights instantly. Those organizations that can leverage additional data sources and use AI to test and deploy new strategies quickly will be able to better serve their customers, detect fraud, and capture new market share.”

Additional key highlights / milestones in 2022:

Launch of the Provenir AI-Powered Data and Risk Decisioning Platform: Addressing the rapid adoption of artificial intelligence in the fintech and financial services markets, Provenir introduced its award-winning AI-Powered Data and Risk Decisioning Platform, which delivers a unique combination of data, decisioning and AI that provides the foundation for more accurate, automated risk decisions across identity, credit and fraud – allowing organizations to stay focused on innovation and optimizing the customer experience.
Introduction of Provenir Brazil: Provenir also introduced its fifth entity, Provenir Brazil, as part of its country-focused market strategy expansion. Brazil is the tenth largest economy in the world, accounting for approximately three out of 10 fintech startups in Latin America.
Growth of Provenir Marketplace Data Partners: The Provenir Marketplace expanded to more than 100 data partners, achieving 57 percent growth over the past year. The Provenir Marketplace is a comprehensive fintech data and intelligence ecosystem covering the whole customer lifecycle. This data adds value across key areas such as KYC, origination, credit risk, financial inclusion and fraud.
ISO/IEC 27001 and Helios Accredited Certification for Data Security: The company announced it has achieved ISO/IEC 27001 and Helios certifications – globally recognized information security standards which require compliance across all aspects of information security and operations.
New Global Partnerships/Collaborations: Provenir established new partnerships and collaborated with key industry leaders to provide its AI-Powered Data and Decisioning Platform to the financial services market. These include:
- TransUnion Strategic Alliance Distribution Program – Through this alliance, TransUnion clients can take advantage of Provenir’s platform to gain deeper insights from more data sources to power a new level of decisioning speed and accuracy.
- Visa Ready for BNPL – As a member of the Visa Ready for BNPL program, Provenir provides lenders offering Buy Now Pay Later (BNPL) services the ability to make data-fueled and AI-powered intelligent decisions.
Award Recognition for Excellence in Innovation: Provenir’s excellence in innovation was recognized throughout the year with distinction in the following industry awards programs:
- Named to Credit & Collections Technology Power List of Top 20 Companies in 2022.
- Winner – “Best Credit Risk Solution” in the Credit & Collections Technology Awards 2022.
- Winner – “Data Solution of the Year for Finance” in the Data Breakthrough Awards 2022.
- Gold Winner – “AI Platform” in the Juniper Research Future Digital Awards for Fintech & Payments 2022.

Provenir was also recognized as a finalist in the following awards programs: Tearsheet Data Awards 2022, US Fintech Awards, Fintech Futures Banking Tech Awards, and Credit Strategy Lending Awards.

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Nova Credit

Written by Amy Sariego on 27 Jan, 2023. Posted in Partners. No Comments on Nova Credit

Partners

Nova Credit

Expand Your Credit-Eligible Universe

Key Benefits

Unlock new markets and optimize funnel conversion. Access trusted financial data to open new consumer segments, offer new products, and create loyal customers for life — all while maintaining your risk profile. Minimize your acquisition costs by optimizing your funnel conversion rate. Consumer-permissioned data gives you the confidence to approve more of the people that you’ve already attracted to your product offering.
Reduce portfolio risk and automate income verification. Respond to uncertain economic conditions and develop loss avoidance strategies by improving your risk assessment with up-to-date credit risk information. Automate your income verification processes with Cash Atlas™ and reduce time to fund. This solution helps increase applicant conversion rates, reduce manual intervention to review document uploads, and improve visibility into debt-to-income ratio and true income.

“We’re removing a barrier for millions of newcomers to the U.S. who arrive and instantly lose access to the credit history they built elsewhere.”
ATUL RANJAN, VICE PRESIDENT OF NEW ACCOUNT UNDERWRITING AT AMERICAN EXPRESS

Building a Fair and Inclusive Financial System for the World

Nova Credit is a consumer-permissioned credit bureau that helps businesses make more fair and informed decisions on millions of ‘thin file’, no credit history, or new-to-country applicants. The Credit Passport® unlocks cross-border credit bureau data to help businesses underwrite new-to-country newcomer populations. The Cash Atlas™ provides greater insight into the cash flows of any applicant, including verifying their income with greater precision than alternatives. Businesses use these products to approve more applicants without taking on more risk, and consumers are empowered to put their best foot forward in their applications.

Resources

About Nova Credit Services

About Nova Credit

Services
Credit Passport®: The only way to help approve qualified immigrants for mainstream credit. Credit Passport® gives businesses the ability to assess the creditworthiness of U.S. newcomers to issue financial products like credit cards, loans, phone plans, and more. Our solution provides access to international credit data that’s translated in real time to a standardized credit report.
Cash Atlas™: Improve credit risk assessment using bank transaction data. Cash Atlas™ helps businesses improve risk prediction for thick-file consumers and expand credit access to thin-file and no-file consumers. Leverage consumer-permissioned bank transaction data to layer affordability on top of existing underwriting models.
Regions Supported
Global

APLYiD

Written by Amy Sariego on 27 Jan, 2023. Posted in Partners. No Comments on APLYiD

Partners

APLYiD

World-Class 30 Second KYC Through Biometric AML Checks

Key Benefits

KYC & AML verification software. Taking KYC to new levels with Face Match, Liveness and OCR of 16,000 global government documents. Reduce your fraud and customer drop off with the world’s most reliable biometric technology.
UK’s broadest coverage of consumer data. Supercharge your verification rates with the largest data of consumers in the UK.

“Since implementing APLYiD solution we’re now seeing a 35% uplift of customers moving through our onboarding process.”
MARK BALICH, HEAD OF PRODUCT AT LATITUDE FINANCIAL SERVICES

AML and KYC: Building the Best Customer Experience

APLYiD brings to the market, the fastest, most reliable, trusted biometric technology to verify your customers identity for AML compliance. APLYiD specializes in advanced biometric ID verification technology. Our SaaS solution provides a simple, superfast biometric ID match and check service that complies with regulatory legislations in every country in the world.

About APLYiD

Services
Face Matching
Liveness
AML Checks
PEP & Sanctions Checks
Regions Supported
United Kingdom
Australia
New Zealand

Basiq

Written by Amy Sariego on 26 Jan, 2023. Posted in Partners. No Comments on Basiq

Partners

Basiq

Unlock the Future of Open Finance

Key Benefits

Accelerate access to Open Banking. Basiq has been helping organizations access and use financial data since 2017. Basiq helps organizations determine a suitable CDR access model and provides a platform with all of the tools to consume Open Banking data in a CDR compliant way.
Data and payments in a single platform. Securely access powerful data insights and execute payments via a single platform. The addition of financial data to payments provides essential information about a consumer’s financial situation, opening doors to a whole new world of solutions to make finance easier.

“Open Banking helps us to harness an even better customer experience and great data insights for
smarter and more responsible lending. With scraping inconsistencies, our focus is on future proofing our business to ensure we can always service our customers in a reliable and secure way.”
BISHARA HATOUM, FOUNDER & CEO AT FUNDO

Basiq, the Leading Open Finance API Platform

At Basiq, our vision is Making Finance Easy. Finance is complex and it can be hard for consumers to make informed financial decisions. We see a world where consumers are empowered to make smarter financial decisions and to engage with their finances in new and unique ways.

Basiq enables this by providing an Open Finance API platform for businesses to build innovative financial solutions. Our partners include some of the fastest-growing fintechs and banks in the region. As the building blocks of financial services, the platform facilitates the relationship between fintechs and consumers by enabling access to consented financial data from 130+ financial institutions and executing payments.

Backed by Reinventure, NAB Ventures, Plaid, Touch Ventures, Salesforce Ventures, and Visa, over 200 fintechs rely on the Basiq platform to deliver solutions to market.

Resources

About Basiq

Services
Connect – Access account and transaction data in real-time
Enrich – Enhance transactions with merchant data
Affordability – Gain deep insight of your customer’s finances
Payments – Execute payments through the Basiq platform
CDR Open Banking – Acquire and use Open Banking data in a CDR compliant way
Countries Supported
Australia
New Zealand

Tartan

Written by Amy Sariego on 22 Dec, 2022. Posted in Partners. No Comments on Tartan

Partners

Tartan

Real-Time Income, Employment Verification of End Users

Key Benefits

Making Income and Employment Verification Seamless. Using income and employment data, lenders know more about their users and club with other data sources to develop a holistic credit profile. Get 60+ data points in a standardized format from the HRMS system.
Ten times reduction rate in end user journey TAT. Make use of multiple data points to pre-fill the end-user journey, which means less time spent by end users to input details without uploading numerous documents—leading to fewer user drop-offs and a seamless onboarding journey.

“Working with TartanHQ has helped us fetch and verify end users’ income and employment data in real time, making our underwriting model quicker and enabling better decisions.”
ASHWIN, PRODUCT LEAD, M2P

One-Click Access to Work Data From the Source-of-Truth

With Tartan’s payroll and workforce connectivity and digital identity APIs, we are making the process of employment and income verification seamless and credible using technology.

We enable businesses like digital banks, lenders, insurance, upskilling, tax platforms, and marketers to create and distribute products efficiently by partnering with HRMS, HRIS, work platforms, and payroll service providers.

We truly believe in financial inclusion for all and solve for multiple categories across salaried, freelance and gig workers. With the help our payroll APIs, our customers are able to target new segments, reach broader geographies and enter new markets.

About Tartan

Services
- Payroll pull
- Payslip OCR
- Work history verification
- Identity verification
- Utility verification
- Vehicle verification
- Financial Verification
Countries Supported
- India

Smile API

Written by Amy Sariego on 12 Dec, 2022. Posted in Partners. No Comments on Smile API

Partners

Smile API

One Trusted Source for Employment Data in Asia

Key Benefits

Access to Employment Data through one API. Smile API provides user-authorized access to recent, comprehensive, verified employment data that is accessible in real-time from employment documents, HR and payroll systems, gig economy platforms, and social security systems through a Singe API.
Make better credit decisions, increase conversion, reduce risk. Unlike traditional sources of credit data like credit scores, blacklists or submitted documents, we provide greater coverage, real-time access, and the most recent, comprehensive, identity and employment data that is available in the market today.

Smile Provides Employment Data Across Platforms and Employers, all Through a Single API

We are building infrastructure for alternative credit data by allowing borrowers to easily share their employment and income information to lenders. We aggregate and unlock previously siloed employment and income data coming from employment documents, HR and payroll systems, gig economy platforms, and government systems. Everything is done in real-time and with their consent.

Resources

About Smile API

Services
- Capture and verify a user’s identity including their name and contact information
- Capture and verify income and employment data in seconds. Retrieve them straight form the source, as well as receive other historical employment data included in their file.
- Get access to other alternative credit data points to better assess your user’s credit worthiness such as their gig transaction data, performance ratings, insurance contributions and outstanding liabilities.
- Automatically capture of data from scanned or photographed employment documents
Countries Supported
- Philippines
- Indonesia
- Singapore

Mastercard

Written by Amy Sariego on 9 Dec, 2022. Posted in Partners. No Comments on Mastercard

Partners

Mastercard

Smarter Data for Payments, Account Opening and Lending

Key Benefits

Better Data. Better Connections. Whether you’re seeking data from one of the largest financial institutions or the smallest credit union, Mastercard has you covered. Our connections cover 95% of all deposit accounts in the U.S.
Tomorrow’s Payments Begin with Mastercard Open Banking Data. We power apps and services with open banking data to underwrite and lend smarter, simplify and derisk payments, open and fund accounts and drive SME innovation. Scale quickly and create unique financial experiences with Mastercard.

“Mastercard’s open banking platform takes care of bank connections and allows us to focus on our mission of building the credit card of tomorrow.”
ALTERNATIVE CREDIT FINTECH

Trusted Data for Fintech Lending and Payments Innovation

Mastercard is a global technology company for lending, payments and account opening. We enhance access to capital by providing digital verification of income, assets and employment. Through our open banking platform, we drive an inclusive, digital economy that benefits everyone everywhere. We make transactions safe, simple, smart and accessible, reducing risk in payments through account owner verification, balance check and routing optimization. Mastercard’s consumer-permissioned data powers innovation with connections to the top FIs, wealth management, student loan and payroll providers. We partner with innovative financial institutions, lenders and fintech providers to give consumers and small businesses a leg up in a complicated financial world, helping to improve financial literacy, expand financial inclusion and ultimately lead to better financial outcomes.

Resources

About Mastercard

Services
Open Banking Data for Lending (card, mortgage, auto, personal, small business, tenant screening).
Open Banking Data for Payment Enablement (account verification, account-to-account payments, peer-to-peer payments, Buy Now, Pay Later).
Account Opening (account funding, identity, privacy).
Open Banking Data for Small Business (lending, payments and accounting/expense management).
Regions Supported
North America

Alejandro Ronzon Joins Provenir as Director of Sales for Latin America

Written by Amy Sariego on 7 Dec, 2022. Posted in News. No Comments on Alejandro Ronzon Joins Provenir as Director of Sales for Latin America

NEWS

Alejandro Ronzon Joins Provenir
as Director of Sales for Latin America

Ronzon brings more than 20 years of software sales and business development experience in LATAM

MEXICO CITY – Provenir, a global leader in AI-powered data and risk decisioning software for the fintech industry, announced today that Alejandro Ronzon has joined as the Director of Sales for Provenir in Latin America. In this role, Alejandro will oversee sales, customer success, market development and go-to-market strategies.

Alejandro brings more than 20 years of experience in the technology space, developing successful organizations from the ground-up and building solid relationships with key partners and customers across the Latin America region. Prior to joining Provenir, Alejandro served in leadership roles at Snow Software, Microsafe and CityCom.

“The fintech space in the LATAM region, including the Caribbean, has experienced triple-digit growth in the last four years,” said Jose Vargas, Executive Vice President, LATAM for Provenir. “This growth has resulted in unprecedented demand for Provenir’s AI-powered Data and AI risk decisioning software as organizations seek new ways to minimize risk, identify and prevent fraud, and serve individuals and SMEs who do not qualify for credit using traditional lending practices. Alejandro brings a unique combination of experience and knowledge that will help us engage with these innovators to revolutionize risk decisioning in Latin America.”

“With more than 2,500 fintechs driving innovation across the region, banking has become more agile and easier for the people that traditionally did not have access, commented Alejandro. “More than 400 million citizens are currently unbanked/underbanked which provides fintechs and financial services providers the opportunity to grow their customer bases significantly. I am excited to be part of this company that will make a difference in the lives of millions of people by helping clients reinvent their credit risk decisioning practices.”

Provenir’s industry-leading AI-Powered Data and Decisioning Platform ease of use and flexibility allows for smarter risk decisioning. The solution, managed through a single UI, empowers organizations to innovate further and faster than ever before, driving the continuous optimization they need to power growth and agility, without increasing risk.

The Ultimate Guide to Decision Engines

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Think360.ai

Written by Amy Sariego on 6 Dec, 2022. Posted in Partners. No Comments on Think360.ai

Partners

Think360.ai

Think360.ai – Accelerating Intelligent Transformation

Key Benefits

Algo360: Alternate Data and AI-Powered Credit Scores. Algo360 is India’s largest AI-driven alternate credit score solution that provides lenders with 1000+ alternate data points to gauge the creditworthiness of individuals. Algo360 enables financial institutions to extend credit offerings to the underserved population.
Kwik.ID: Digitally Onboard Your Customers, Kwikly. Kwik.ID is an AI-backed customer onboarding and video KYC solution. It provides secure, compliant, and customizable digital onboarding. Kwik.ID has onboarded over 300,000+ remote customers with an NPS of 95+.
AAmaze: Enabling the Account Aggregator Ecosystem. AAmaze is a TSP licensee enabling the AA ecosystem, with a bank statement analyzer and personal finance solution. AAmaze’s AI-powered platform deep-dives into the rich open data framework, to support cash flow-based lending, custom savings, and money management solutions for customers (even those with no prior credit history), including both MSMEs and individuals.

“Think360.ai has helped us unlock the power of alternate data and design a seamless customer journey. We’re able to underwrite a lot better now compared to using only traditional forms of data like bureau reports. As a result, we have been able to expand our customer base and lend to new to credit borrowers with confidence.”
ABHISHEK UPADHYAY, NAVI

Think360.ai – Full-Stack Data Science and AI Firm

Think360.ai is a full-stack data science and AI firm with market-leading products, solutions and advisory services, founded in 2014.

Their offerings include Algo360 (India’s largest alternate credit score), Kwik.ID (best-in-class video KYC and customer onboarding solution), FlowXpert (low-code partner management and API management solution), and a modular modern underwriting stack (with advanced AI/ML risk modeling, multi-data parser, credit policy design, Business Rule Management System, and Risk-based pricing solutions). Think360 has been a bootstrapped, profitable, and high CAGR organization since its inception, and has worked with industry giants like Bank of Baroda, Bajaj Finance, Aditya Birla Finance, IDFC First Bank, Navi Technologies, BharatPe, RBLamong others.

Think360 is on a mission to “Accelerate Intelligent Transformation” through “Ideas powered by data.”

Resources

About Think360.ai

Services
- Algo360
- Kwik.ID
- AAmaze
Countries Supported
- India

DML Connect

Written by Amy Sariego on 24 Nov, 2022. Posted in Partners. No Comments on DML Connect

Partners

DML Connect

UK Consumer Data for Identity and Fraud Verification

Key Benefits

Access to the Largest Global Consumer Data Universe. The DML consumer database offers a diverse range of data that helps clients create a holistic view of an identity. Using the data for IDV, KYC, AML and track & trace enables any company to detect fraud at an early stage.
Comprehensive UK Home Movers Database. Transactional property data, providing information on the status of a property. Details for the property being listed, sold or withdrawn and when this transaction occurred. Ability to track individuals back to previous addresses.

“We have worked with DML for years and the relationship has only strengthened. The team assists with our data requirements and are extremely proactive; a great company.”
TEAM TwentyCi

Use the Power of Data to Make Decisions

Data provider offering comprehensive global coverage of consumer data including name, address, date of birth, email and telephone number, which can be used by companies for Identity verification, KYC, AML and more. Seamless API integration enables businesses to quickly confirm if an individual is who they claim to be.

Age verification services to comply with e-commerce and gambling legislations.

Home mover and property data can be used to track and trace individuals to their previous address as well as being able to verify where they live.

Resources

About DML Connect

Services
- Consumer data UK for IDV, AML, KYC, Age Verification, Track and Trace
- Consumer data global for IDV, AML, KYC, Age Verification
Regions Supported
Global

Industry: Provenir

Provenir Achieves Significant Revenue and Customer Growth in 2022:Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

The Ultimate Guide to Decision Engines

LATEST NEWS

Nova Credit

Expand Your Credit-Eligible Universe

Key Benefits

Building a Fair and Inclusive Financial System for the World

Resources

About Nova Credit

Services

Regions Supported

APLYiD

World-Class 30 Second KYC Through Biometric AML Checks

Key Benefits

AML and KYC: Building the Best Customer Experience

About APLYiD

Services

Regions Supported

Basiq

Unlock the Future of Open Finance

Key Benefits

Basiq, the Leading Open Finance API Platform

Resources

About Basiq

Services

Countries Supported

Tartan

Real-Time Income, Employment Verification of End Users

Key Benefits

One-Click Access to Work Data From the Source-of-Truth

About Tartan

Services

Countries Supported

Smile API

One Trusted Source for Employment Data in Asia

Key Benefits

Smile Provides Employment Data Across Platforms and Employers, all Through a Single API

Resources

About Smile API

Services

Countries Supported

Mastercard

Smarter Data for Payments, Account Opening and Lending

Key Benefits

Trusted Data for Fintech Lending and Payments Innovation

Resources

About Mastercard

Services

Regions Supported

Alejandro Ronzon Joins Proveniras Director of Sales for Latin America

The Ultimate Guide to Decision Engines

LATEST NEWS

Think360.ai

Think360.ai – Accelerating Intelligent Transformation

Key Benefits

Think360.ai – Full-Stack Data Science and AI Firm

Resources

About Think360.ai

Services

Countries Supported

DML Connect

UK Consumer Data for Identity and Fraud Verification

Key Benefits

Use the Power of Data to Make Decisions

Resources

About DML Connect

Services

Regions Supported

Provenir Achieves Significant Revenue and Customer Growth in 2022:
Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

Alejandro Ronzon Joins Provenir
as Director of Sales for Latin America