Adiante Recebíveis gains agility, flexibility and efficiency in risk decisioning with Provenir’s AI Solution
Adiante Recebíveis is a credit fintech created in 2018 and part of the GCB Group. Operating in the Brazilian financial scenario, it helps companies of all sizes to anticipate receivables and optimize their accounts receivable.Specifically, it serves companies involved in installment sales that need immediate cash, without resorting to loans.
Discover how Provenir’s Decisioning Platform can transform your business.
Credit Journey Optimization with AI: Jeitto Doubles Portfolio and Reduces Default with Provenir Technology
Jeitto is a digital credit and services platform aimed at people who do a lot with little, granting financial resources in an uncomplicated, fast and secure manner to more than 9 million customers. Jeitto is headquartered in São Paulo, Brazil and was founded in 2014.
Discover how Provenir’s Decisioning Platform can transform your business.
Optimizing Collections with Advanced Decisioning Solutions
The ability to efficiently manage the collections process is critical to maintaining profitability and customer relationships. But credit recovery remains a challenge for companies in North America. With regulatory scrutiny, rising credit losses, and customer expectations evolving rapidly, traditional collections methods fall short. Financial services providers must adapt to modern, data-driven strategies to stay competitive.
Join our exclusive live webinar on December 5th, “Optimizing Collections with Advanced Decisioning Solutions,” where we’ll explore how advanced analytics, machine learning, and cloud-native platforms can transform your collections strategies. Learn from industry experts as they share actionable insights on leveraging cutting-edge technology to predict customer behavior, tailor communications, and optimize recovery outcomes in real-time.
Key Takeaways
Understanding the Modern Collections Landscape: Learn how rising operational costs, regulatory pressure, and customer demands are reshaping collections practices.
Harnessing Machine Learning in Collections: Discover how machine learning can improve recovery rates by predicting customer behavior and recommending the best treatments.
Optimizing Communication Channels and Timing: Uncover the power of advanced decisioning to choose the right message, channel, and time to engage delinquent customers effectively.
Boosting Profitability through Advanced Analytics: Explore real-world case studies demonstrating how integrating AI and data science leads to significant improvement in recovery rates.
Join us for this informative session to see the ways leading financial services providers are modernizing their collections approach to reduce losses, lower operational costs, and enhance customer experience.
VALID Systems is an AI-powered account risk, fraud and transaction decisioning company
Key Benefits
AI Fraud Signals with Robust Bank Accounts Coverage. AI-powered fraud signals with: $450M unique bank accounts within our consortium; $4T annual transactions volume to drive behavior analytics (2024); 60%+ recency within the last 6 months of transaction activities.
Instant Alerting and Triage Fraud Risk. Instant detection of bank account fraud, providing a responsive solution for recognizing fraudulent activities in compliance with GLBA requirements. Streamline fraud detection and risk management by leveraging AI-powered features to securely analyze, categorize, and prioritize potential fraud threats.
“VALID Systems has been an outstanding partner. From inception stage to post-production, the team has been incredibly attentive, accommodating, and dependable.”
Best-in-Class Fraud Detection and Loss Reduction
Valid is a risk and fraud decisioning company with a consortium of 450M+ unique bank accounts and processed ~$40T total check transaction across the US with a coverage of 70% of US bank accounts. It partners with 7 of the top 25 FIs to drive best-in-class fraud detection, reduce losses and seamless customer experience.
VALID Systems is an AI-powered account risk and transaction decisioning company. We remove the friction caused by fraud to deliver liquidity solutions for the largest FI’s in the nation.
From check risk and deposit acceleration, to increasing loan funding rates and small dollar lending, we are your risk partner for enabling customer liquidity needs.
The African market, characterized by rapid digital growth and increasing financial inclusion, is facing a surge in application fraud. Traditional fraud prevention methods are struggling to keep pace with the evolving tactics of fraudsters. This webinar will explore how a holistic onboarding decision platform can revolutionize fraud prevention in Africa.
We will discuss the key challenges of application fraud in the African context, including identity theft, synthetic fraud, and social engineering attacks. We will then delve into how a decision platform can address these challenges by:
Orchestrating rich data: Leveraging diverse data sources to gain a comprehensive view of applicants and identify suspicious patterns.
Creating complex rules: Developing sophisticated rules to detect anomalies and flag potential fraudulent activities.
Incorporating machine learning: Utilizing machine learning algorithms to continuously learn from new data and adapt to emerging fraud trends.
Enabling effective decisioning: Providing a case management system that facilitates efficient investigation and resolution of fraud cases.
By adopting a holistic approach with a decision platform, organizations can enhance their fraud prevention capabilities, protect their businesses, and ensure a positive customer experience in the dynamic African market.
How did Provenir begin, and what’s next for us? Our Chief Product Officer, Carol Hamilton, sat down with Qorus for a chat on what led to the creation of Provenir’s AI-powered risk decisioning platform, how we’ve evolved, and where we’re headed next. Read on for more info on how we’re expanding our capabilities in decision intelligence and how we’re helping financial services providers not only react to risks and opportunities, but better predict them.
Instabank, the Nordic challenger bank, has been redefining the banking experience since its full digital launch in Autumn 2016. Their passionate team is dedicated to improving banking for both corporate and private customers, challenging established norms, and providing flexible solutions that simplify complexity.
Industry
Region
Countries
Nordics
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $5,500 Land PS: 0 Expand MRR: $18,045 Expand PS: $22,500
Opportunity Created
December 2016
Opportunity Won
2017
Go-Live
June 2017
Customer Expansion
Originations SME
Consumer Loans, 26-6-2017
Cloud 1, 2017
Cloud 1 expansion -2021
Cloud 2.0 Migration – 2022
Cloud 2.0 Expansion – 2024
Initial Opportunity Details
Customer Challenge
Since opening its digital doors in 2016, Instabank has become a disrupter in the Nordic banking community. One of its key products is instantly approved, direct-to-consumer, unsecured loans. The bank also partners with retailers to provide real-time point-of-sale loans to their customers. Initially, the bank used a traditional lending solution with thousands of lines of code. As a digital “challenger” bank, Instabank needed a platform that would not only enable instant decisioning, but also offer the flexibility and scalability to support the company’s rapid growth.
Provenir Approach
Provenir provided some key benefits from implementing the platform.
The Provenir Risk Decisioning Platform delivers a flexible solution for Instabank’s digital banking services.
Automated process gathers data from multiple sources and decisions each loan application in a minute.
Flexible, business-focused design tools substantially reduce time and costs for developing country-specific banking solutions.
Pre-configured integration adaptors enable real-time data gathering from Experian and a European property data provider.
Cloud-based implementation enables rapid deployment with controlled costs.
Improving margins for our customers is in our DNA, we are passionate about seeing people and businesses grow. Our roots go back to 1979, and since Marginalen was formed in the early 90s, we have grown by our own power. In connection with Marginalen acquiring Citibank’s Swedish consumer bank in 2010, Marginalen Bank was formed.
Large Mortgage lender covering the Nordic market, formed in early 1990s and acquired Citibank’s Swedish consumer business in 2010.
Industry
Region
Countries
Nordics
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $22,500 Land PS: N/A Expand MRR: $35,500 Expand PS: $9,000
Marginalen offers multiple credit products, each with their own credit originations process. Response time was a major issue and almost all mortgages had extensive manual review. Current technology and 3rd party vendor reliance restricted speed of change and flexibility to meet new and emerging product needs. Limited ability to scale constrained company growth.
Provenir Approach
Utilized Provenir’s business-user driven decision engine to increase self-sufficiency and reduce 3rd party costs.
Made extensive use of Provenir’s configurable adaptors to allow Marginalen Bank to connect to multiple data sources efficiently.
Increased self-reliance enabled rapid deployment of new decision services, increasing decision confidence and decision automation.
Provenir Impact
90% automation across all products’ credit approval processes, resulting in 25% operational staff reduction
30% + automation in larger value commercial lending
Fastest response times in the market placed them at the top of the broker funnel
Achieved self sufficiency for all credit policy changes. Credit committee approved changes are live in less then 72 hours.
Banco Promerica Costa Rica is part of Grupo Promerica that boasts an impressive presence across eight Central & South American countries, serving over 2.6 million clients with a robust network of branches and ATMs. With total assets exceeding US$18 billion and equity surpassing US$1.45 billion, they represent a valuable addition to our growing client base in the banking industry.
Industry
Region
Country
Costa Rica
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $18K Land PS: $91,140 Expand MRR/PS: N/A
Opportunity Created
August 4, 2023
Opportunity Won
February 13, 2024
Go-Live
In Implementation
Customer Expansion
Expansion planned for additional countries
Initial Opportunity Details
Customer Challenge
To support their ambitious plans, Promerica needed a more flexible decision engine solution to manage their credit policies and decision-making. Their current process is highly manual, lacking the flexibility required to support their digital lending goals. A gap existed between their strategic objectives and the technical capabilities necessary to quickly implement decision rules tailored to their risk appetite and data requirements, and to scale as needed.
The transition to a robust digital onboarding offering is a strategic imperative.
Provenir Approach
Through process automation, our platform will enable a new era of efficiency. With simplified data access at its core, we ensure that decision-makers have immediate access to the right data, empowering them to make smarter credit risk decisions with confidence and precision.
Furthermore, our low-code intuitive UI represents a paradigm shift, placing the power of customization and adaptation firmly in the hands of Promerica’s business users. Together, these pillars form the foundation upon which our solution will deliver unparalleled value, driving success and growth for Promerica in the dynamic landscape of modern business.
Provenir Impact
After the implementation is completed, the internal objectives that we have set for ourselves include:
To streamline the digital onboarding process, allowing consumers to apply in real-time with a significant improvement in underwriting speed, reducing processing time from days or hours to minutes or seconds.
To enable rapid, low-effort access to any data source for improved accuracy and efficiency in Promerica’ s credit risk decision-making. The initial milestone will focus on real-time integration with Equifax. Currently, this integration operates through a manual approach.
Competitors
GDS Link, FICO, In-House.
Why We Won
External Data augmentation via Marketplace and APIs
Integrations to Internal Databases
Flexibility: “On-the-fly” changes
User friendly visual interface
Ability to manage real time and batch mode for applications
Pain Points
Streamlining digital onboarding
Data integration
Flexibility to adapt credit policies
Customer Growth
Growth Opportunities
The current priority is focused on completing the implementation of this first phase in Costa Rica. After this implementation, the objective is to replicate the experience in the rest of geographies to standardize the Digital Onboarding initiative.
Expansion
The plan not only considers expansion through the incorporation of additional use cases but also focuses on standardization across the eight countries where Promerica has presence in Central and South America. This initiative will strengthen our collaboration and ensure sustainable joint growth throughout the region.
Telia Company is a leading telecommunications and mobile network operator primarily serving the Nordic and Baltic regions, with operations extending to the other parts of Europe and Asia. Established in 1853, Telia has evolved into a modern telecommunications company, providing a wide range of services including mobile and fixed line telephony, internet, digital television and enterprise solutions.
After successful engagement with Telia Finance for many years on Cloud Platform, at the end of 2022, Telia Company, the parent of Telia Finance decided to go with Provenir for their own country specific entities who operate separately and who also provide telecoms products with credit. With a focus on innovation and sustainability, Telia is committed to shaping the digital future and enhancing connectivity for individuals and businesses.
Industry
Region
Countries
Sweden, Finland, Denmark, Norway
Line of Business
Solution
Module
Infrastructure
ROI
Competition
Customer Timeline
Land MRR: $40K Land PS: €250K Expand MRR/PS: N/A
Opportunity Created
May 2022
Opportunity Won
December 2022
Go-Live
TBD
Customer Expansion
TBD
Initial Opportunity Details
Customer Challenge
Telia decided to adopt a new standardized credit granting process that forms the basis for different products and services in B2C and B2B areas. The key is to establish a platform on which different credit decisioning processes can be achieved with:
Increased business agility, adaptive response to changes in market and customer behavior
Easy to integrate with external & internal systems to enhance decision making quality
End-to-end risk management & compliance
High performance & easy to scale
Cost efficiency on a single platform
Support & flexibility for multi-product, multi-country type complex design
The ambition is to complete the roll-outs of this credit decisioning initiative by EoY-23 across multiple countries to improve time-to-market and reduce customer friction for better customer experience
Provenir Approach
Provenir Adaptor Technology: to collect data and communicate various internal & external systems/sources
UC, Bisnode, Phone & Email services
CRM, Finance, Billing etc.
Visual & Quicker build for rules & calculations
Optimize the promotion of reusable building blocks (flows) in a flexible design context in multi-step and multi-level decisioning
Ease of analytical asset operationalization
Handling exceptions thanks to Provenir versatile Case Mgt. on Salesforce
Strong existing customer relationship from Telia Finance
Provenir’s flexibility, business friendly interface, support for reusable building blocks (micro-service oriented)
Presales and PS collaboration to meet every single custom requirement via a tailored demo artifact + detailed workshops to address all business, functional and technical aspects forming a strong trusted advisor state
Smart deal strategy to make the financial model attractive esp. for multi country multi brand.
Pain Points
Easy to change, low-code solution for agility & responsiveness
The successful engagement & delivery means that now Provenir and Telia are in conversations for further expansion:
Telia Company Norway
Telia Company other countries
Expansion
Telia Finance offered loans & credits for telecom products. With the Telia company expansion in 2022 our successful roll-out starts with Telia Finance Denmark for B2B and B2C products (mobile, broadband, TV) in risk-based pricing and limit, which is later planned to be followed by:
Telia Finance Sweden (mid-June 24)
Telia Finance Finland (Q3-24)
Telia Finance Norway (Q4-24)
Example Decisioning Flows
New Application
Decisioning
Pre-Scoring
Decisioning
(Credit Policy Rules & Internal Payment History)
Application Data
Invoice information (Order & Payment History)
Population Register Data
Phone & Email Service
External Scoring
Decisioning
(Fraud, AML, Sanctions, Credit Bureau)
(formerly Bisnode)
Fraud, sanctions, AML scores
Disposable income calculations
Bureau generic models
Customer Specific Scoring Models
Decisioning
Telia custom scoring model with internal Telia data & external data combined (fraud, bureau, register, application data involved)
