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Steering Through Economic Challenges: Canadian Financial Services in 2024

NEWS

Steering Through Economic Challenges:
Canadian Financial Services in 2024

While the inflation rate has been steadily slowing down heading into 2024, Canada is still working its way out of an unprecedented housing crisis as Canadians feel the sting of higher rents, mortgage payments and property taxes.

While better economic news is on the horizon, there are indicators that financial service providers need to pay close attention to in order to serve their customers in turbulent times.

Fintech.ca sat down with Cheryl Woodburn, Country Manager of Canada for Provenir, a global leader in AI-powered risk decisioning software, to talk about everything from data and strategy to fraud and risk mitigation.

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The Ultimate Guide to Decision Engines

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Leveraging AI to Power More Personalized and Profitable Customer Relationships

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Leveraging AI to Power
More Personalized and Profitable Customer Relationships

Use of risk decisioning platforms often focuses on onboarding and loan origination, however investment in the beginning of the customer journey is only the start. A financial institution’s growth depends not only on attracting new customers, but also on maximizing the value of its existing customer base.


In this Financial IT feature, Kathy Stares, EVP, North America for Provenir, outlines the tools financial institutions can use to enable more accurate, faster decisions across the customer lifecycle to provide a superior experience and retain loyal customers (pages 32-33).

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The Ultimate Guide to Decision Engines

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AI-Powered Risk Decisioning Leader Provenir Adds Chief People Officer Lori Copeland to Executive Team

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AI-Powered Risk Decisioning Leader
Provenir Adds Chief People Officer Lori Copeland to Executive Team

ndustry veteran brings more than 20 years’ experience in human resources leadership and talent acquisition to the fintech leader

Parsippany, NJ Jan. 9, 2024 – Provenir, a global leader in AI-powered risk decisioning software, today announced the appointment of Lori Copeland as Chief People Officer.

In this role, Copeland will be responsible for developing and executing human resource strategy in support of the overall business plan and strategic direction of the organization. She will provide leadership and guidance to all HR functions and develop recruiting plans to bring new talent to expand Provenir’s workforce, which spans 25 countries across the globe.

A senior human resources executive with more than 20 years’ experience, Copeland has proven ability to engage key stakeholders, deliver results and drive initiatives across complex global matrix organizations. Prior to joining Provenir, Copeland was Global Vice President, Human Resources, with LGC, a private equity owned leading, global life science technology company. Prior to this, Copeland was Global Human Resources Leader at General Electric (GE), Digital, a growth IoT startup within GE.

“Lori has an impressive background in human resources and organizational development and brings a dynamic blend of passion and expertise to our leadership team,” said Larry Smith, Founder and CEO of Provenir. “Lori’s leadership will be instrumental in supporting our people operations and cultivating a high-impact workforce as we grow.” “I am excited to join Provenir as the company grows globally and invests in its employee base to deliver innovative solutions to the financial services market,” said Copeland. “As Provenir continues to deliver the technology to power financial institution and fintech success worldwide, I look forward to growing and nurturing the company’s biggest asset – its people.”

The Ultimate Guide to Decision Engines

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2024: Digital Transformation’s ‘Big Bang’ Moment?

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2024: Digital Transformation’s ‘Big Bang’ Moment?

Today’s financial services industry is defined by rapid technological advances and a fast-evolving regulatory ecosystem that’s working hard to keep up. Against this dynamic backdrop, the pressure on banks to remain both competitive and compliant has never been so intense.

Banks’ ability to survive and thrive will depend on their ability to successfully embrace digital thinking and the smarter artificial intelligence (AI) innovations that we are now seeing enter the market at pace. In this Finance Derivative exclusive, Frode Berg, Managing Director for EMEA at Provenir, outlines the mindset shift and tools required for banks to attain new heights of innovation and customer satisfaction.

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Unlocking Africa’s Credit Potential through Smart Decision Making

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Unlocking Africa’s Credit Potential
through Smart Decision Making

As banks grapple with increasing pressure to better manage their credit books to properly vet customers before granting them loans, effective deployment of the power of decisioning and advanced data analytics can help them to increase their competitiveness and reduce their risk exposure.

In this exclusive podcast with RegTech Africa, Adrian Pillay, Vice President of MEA for Provenir, shares his insights on lending and credit risk trends across Africa, how AI can contribute to the transformation of the credit risk process, the consumer data protection movement and current/impending legislation and regulations across Africa.

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Banking and Payments Experts Share Sector Forecasts for 2024

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Banking and payments experts
share sector forecasts for 2024

The Retail Banker International tapped industry experts including Frode Berg, Managing Director of EMEA for Provenir, to garner insights and predictions for 2024.

In this article, Frode shares his thoughts on net-zero banking trends and what organizations need to do to become more customer centric in the coming year.

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Consumer Duty Predictions with Quadient, Fujitsu, Weavr, Provenir, Eligible, Currensea, Zuto, Cardlytics, Fuse

NEWS

Consumer Duty Predictions
with Quadient, Fujitsu, Weavr, Provenir, Eligible, Currensea, Zuto, Cardlytics, Fuse

Consumer Duty, a set of rules aimed at enhancing consumer protection in the UK financial services sector, came into force in July 2023. The Financial Conduct Authority’s (FCA’s) new rules mean that firms selling financial products now have to meet much higher standards.

In this Fintech Times article, Carol Hamilton, Chief Product Officer at Provenir, joins other experts across the fintech industry in sharing predictions for 2024, including a collective focus on collaboration between fintech firms and traditional banks, driven by a commitment to enhance customer benefits, transparency and personalisation.

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The Ultimate Guide to Decision Engines

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What will digital transformation look like in 2024?

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What will digital transformation look like in 2024?

In this exclusive Fintech Magazine interview, Frode Berg, Managing Director for EMEA at Provenir, outlines his expectations for 2024 when it comes to digital transformation in the financial services sector and how much he believes Gen AI will impact the industry.

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2024 Global Risk Decisioning Survey: North America Special Edition

SURVEY

2024 Global Risk Decisioning Survey:
North America Special Edition

What’s top of mind for financial services providers heading into 2024?

Provenir surveyed more than 300 decision makers from a variety of financial services providers and fintechs around the globe in order to understand their:

  • Risk decisioning challenges
  • Customer management priorities
  • Confidence in the accuracy and flexibility of their risk models and anti-fraud measures

This special North America edition includes 2024 opportunities for providers in the region from Provenir’s Executive Vice President of North America, Kathy Stares. She covers:

  • Widespread adoption of AI
  • Democratizing data
  • Digital payment evolution

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Why Customer Retention is Now the Most Important Battle

ON-DEMAND WEBINAR

Why Customer Retention
is Now the Most Important Battle

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For decades, customer acquisition and onboarding have been the primary focus of banks’ investments.

This made perfect sense. Competition for prime banking customers was fierce, and banks spent a lot of money trying to capture their business. When fintech came on the scene, banks rightly concluded that investments in digital account opening were critical for fending off these new competitors and maintaining their market share, especially with Millennial and Gen Z customers.

It made perfect sense … until it didn’t.

The nature of competition in financial services has changed. The digitization of banking products, the emergence of lead aggregators, and, most importantly, open banking have made it easier for bank customers to shop around and to switch financial service providers than it has ever been.

Today, the biggest challenge facing banks isn’t how to acquire new customers. It’s how to retain the valuable customers that they already have.

In this webinar, Alex Johnson (Founder, Fintech Takes) and Kathy Mitchell-Stares (EVP North America, Provenir) will:

  • Explain why customer management has traditionally been underinvested in by banks and the implications of this underinvestment in today’s financial services ecosystem.
  • Explore how open banking and other fintech innovations have fundamentally altered the competitive dynamics within financial services and placed a premium on customer retention.
  • Provide actionable advice for how banks can improve their customer management decisions and business processes in order to strengthen their most important customer relationships and turn customer retention into a superpower.

Speakers:

  • Alex Johnson

    Founder, Fintech Takes

  • Kathy Stares

    EVP North America, Provenir


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