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Evolving Buy Now, Pay Later and Pivoting to Profitability

Written by Amy Sariego on . Posted in News. No Comments on Evolving Buy Now, Pay Later and Pivoting to Profitability

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Evolving Buy Now, Pay Later
and Pivoting to Profitability

Why is BNPL so popular? Consumers don’t have to pay interest, and some providers don’t even charge late fees for missed payments. The risk checkpoints that have historically acted as barriers for the credit unserved or underserved no longer exist. And without the data and risk technology in place to fill in those gaps, delinquency can and will happen, especially given the economic context fueling BNPL usage  – cost of living crises is impacting developed and emerging markets, inflation is high and delinquencies across consumer lending are the highest they’ve been in a decade.

Financial IT tapped Kathy Stares, Executive Vice President, North America at Provenir, to share her guidance on what BNPL providers can do to mitigate risk and maximize process/cost efficiency in these highly volatile times.

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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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Seven Ways in Which Technology is Boosting Access to Credit in West Africa

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Seven Ways in Which Technology is Boosting Access to Credit in West Africa

Technology plays a pivotal role in the fast-moving world of finance. This is particularly true in West Africa, where the intersection of economic growth, financial inclusion, and technological advancement has created a rather unique environment.

According to the World Bank, West African Economic and Monetary Union (WAEMU) countries have seen a spike in financial account ownership since 2014, with mobile money accounts driving adoption and usage. Against this backdrop, credit risk decisioning software providers are having a positive impact on West Africa’s financial landscape, using data and analytics to extend credit to those who would have been previously denied it. In this exclusive article in RegTech Africa, Tatenda Nigel Chinodakufa, Sales Executive at Provenir, shares seven ways in which the latest technology is reshaping lending practices across the region.

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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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Alternative Data in Credit Decisioning: Meeting the Demands of the Expanding Canadian Financial Services Market

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Alternative Data in Credit Decisioning:
Meeting the Demands of the Expanding Canadian Financial Services Market

It’s a challenging time in the Canadian market. Between high interest rates, inflation stubbornly sticking at close to 4% and consumers’ fear of a potential recession starting to curb spending, it’s hard to find the growth we need to fuel our businesses. At the same time, competition has never been stiffer. In this op-ed, Cheryl Woodburn, Country Manager for Canada at Provenir, shares two market trends that are offering growth opportunities for all types of lenders.

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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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Provenir Expands its Presence in France with Key Appointments

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Provenir Expands its Presence in France with Key Appointments

Brice Barouch and Yasmine Ouirhrane join team in response to increasing demand for company’s AI-powered risk decisioning software

Parsippany, NJ — Nov. 14, 2023 — Provenir, a global leader in AI-powered risk decisioning software, today announced the appointments of Brice Barouch as Country Manager and Yasmine Ouirhrane, Business Development Manager, who will be joining the Provenir team in France to serve the growing number of financial services providers seeking AI-powered risk decisioning solutions. Based in France, Brice Barouch will lead Provenir’s operations in the region with Yasmine Ouirhrane responsible for creating go-to-market strategies and leading business development activities. 

Barouch brings more than twenty years’ experience in sales strategy and business development with a strong track record of driving new businesses and boosting sales revenue across the financial services industry. He’s held senior positions at Mirantis, Red Hat, Experian and Ayming.

Prior to joining Provenir, Ouirhrane served as a strategic seller at Varicent. She also brings years of experience defining marketing and commercial strategies, developing sales strategies, and identifying market opportunities. Both Barouch and Ouirhrane are located in France.

“Financial services providers and fintechs must deliver personalized customer experiences and meet consumer expectations for instant decisions to remain competitive,” said Corinne Lleti, Provenir’s Director General of Southern Europe. “Organizations are increasingly looking for our AI-powered risk decisioning platform to gather deeper insights from many types of data and make automated, hyper-personalized decisions. We are excited to welcome Brice on board to lead our French operations and Yasmine, who will play a pivotal role in addressing the rapidly increasing demand in the region.”

The Ultimate Guide to Decision Engines

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tbi Bank’s Costin Mincovici Wants to See More ‘Aha’ Moments in Digital Banking

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tbi Bank’s Costin Mincovici Wants to See More ‘Aha’ Moments in Digital Banking

Costin Mincovici, tbi Bank’s Chief Credit Officer, is a risk leader that likes to say yes.

Yes to mobile-first financial services, yes to digital banking disruption, and yes to multi-country risk strategies that offer the accessible experiences that can make or break a provider.

He shares his insights with our EMEA host and Provenir’s regional leader, Frode Berg. They explore everything from the ethical implications of data usage, to market approaches that protect the interests of both the customer and bank, to the “aha” moments Costin hopes to see more of across fintech.

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Provenir Named Winner of ‘Data Initiative of the Year’ in the 2023 US Fintech Awards

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Provenir Named Winner
of ‘Data Initiative of the Year’ in the 2023 US Fintech Awards

The company’s AI-Powered Risk Decisioning platform continues to garner industry accolades for excellence in driving success for financial institutions in 50 countries worldwide

Parsippany, NJ – Nov. 6, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announced that it has been named winner of the “Data Initiative of the Year” category for the 2023 US Fintech Awards. Winners were unveiled during an awards ceremony at The Edison Ballroom in New York City on Nov. 2.

The US Fintech Awards is a key benchmark by which financial services modernization and technological progress in the world’s premier financial services center are judged. The awards program is organized by FinTech Intel, the global market intelligence platform for financial services technology.

“This is a tremendous honor for Provenir and we thank the judging panel for recognizing the innovation our technology delivers to financial institutions in decisioning at every turn throughout the customer lifecycle,” said Kathy Stares, Executive Vice President for North America, Provenir. “Through a unique combination of universal access to data, simplified AI, world-class decisioning technology and holistic case management capabilities, Provenir provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle.”

Provenir brings together the power of decisioning, data, AI and case management via its AI-powered Risk Decisioning platform. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

The Ultimate Guide to Decision Engines

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Fostering SME Lending Resilience in Europe: Empowering Smart Decision-Making with Data and AI

Written by Amy Sariego on . Posted in Resource, Webinars. No Comments on Fostering SME Lending Resilience in Europe: Empowering Smart Decision-Making with Data and AI

ON-DEMAND WEBINAR

Fostering SME Lending Resilience in Europe:
Empowering Smart Decision-Making with Data and AI

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SMEs accelerate market growth and innovation across the continent, accounting for 67% of all EU private sector jobs and 58% of the EU’s GDP. However, inflation and growing costs of business have put pressure on these drivers of economy and research shows accessing financing has become increasingly difficult. 

To ensure long-term economic success for the region, catering to the unique needs of SMEs has never been more critical. But if you’re a lender that struggles with outdated, manual credit risk decisioning, your ability to provide that critical funding is limited. That leaves both SMEs and lending businesses like yours struggling to grow.

In this webinar, we discuss the challenges of SME lending and the power of a data and AI-powered decisioning platform to streamline the entire credit risk decisioning process from KYC/onboarding to AI-powered business insights.

Discover how to: 

  • Leverage speed and agility to power faster, simplified application processes for SMEs
  • Make smarter, faster credit decisions and accelerate time to market with traditional and alternative data
  • Future-proof your decisioning technology to keep up as economic conditions and market demands evolve
  • Keep risk in check while catering to the unique needs of SMEs using advanced, AI-powered analytics

Don’t miss this opportunity to discover innovative solutions designed to help you overcome the challenges of SME lending and take your decisioning tech to the next level. You’ll walk away with actionable insights to unlock new opportunities in this thriving sector and support SMEs in any economic landscape.

Speakers:

  • Ravi Sidhu

    UK/I Risk & Compliance, Dun & Bradstreet

  • Edward Harding

    Partnerships Development Director, Mambu

  • Bulut Arukel

    Co-Founder, Figopara

  • Bo Anderson

    CIO, Marginalen Bank

  • Corinne Lleti

    General Manager Southern Europe, Provenir

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Provenir Recognized for Credit Risk Solution Excellence in the 2023 Credit & Collections Technology Awards

Written by Amy Sariego on . Posted in News. No Comments on Provenir Recognized for Credit Risk Solution Excellence in the 2023 Credit & Collections Technology Awards

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Provenir Recognized for Credit Risk Solution Excellence
in the 2023 Credit & Collections Technology Awards

Parsippany, NJ – Nov.  2, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announced that it has been named a finalist in the “Credit Risk Solution” category for the 2023 Credit & Collections Technology Awards.

Winners will be unveiled Nov. 23 during an awards ceremony at The Midland Hotel in Manchester, England.

The Credit & Collections Technology Awards provide a focus on technology at a time when credit and collections companies face business pressure in the form of continued regulatory scrutiny. The awards examine different types of technology solutions which are helping companies enhance business strategy.

“A unified decisioning platform, covering everything from credit, fraud, compliance and product decisions, is key to long-term success, growth, and profitability,” said Frode Berg, Provenir’s Managing Director for EMEA. “Provenir provides AI-powered decisioning complete with case management, data, and insights, delivering the foundation for more accurate, automated risk decisions across the entire customer lifecycle. We’re pleased to be recognized for excellence in credit risk decisioning supporting a superior customer experience that maximizes the customer lifetime value.” 

Provenir’s AI-Powered Risk Decisioning Platform is a single, comprehensive cloud-based solution –not a selection of vendor products tied together. The platform unifies all of a financial services provider’s risk decisioning, data, AI and case management through a centralized user interface. It’s a unified solution that works together seamlessly and enables organizations to shorten the development lifecycle and get products to market faster.

The Ultimate Guide to Decision Engines

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Beyond Onboarding: Enabling AI-Powered Decisions Across the Entire Customer Lifecycle

Written by Amy Sariego on . Posted in Resource, Webinars. No Comments on Beyond Onboarding: Enabling AI-Powered Decisions Across the Entire Customer Lifecycle

ON-DEMAND WEBINAR

Beyond Onboarding:
Enabling AI-Powered Decisions Across the Entire Customer Lifecycle

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Are you a finance leader looking to prioritize loan portfolio growth? If so, you’re not alone. According to recent data, two-thirds of finance leaders consider it their top strategic priority. But with so many priorities to juggle, how can you support ongoing account management that increases portfolio value?

Join Provenir’s Andrew Beddoes (Principal Consultant) and Sam Rohde (Head of Pre-Sales, North America) to dive deep into the realm of customer management and how to unlock maximum value across the entire customer lifecycle. Our session will focus on Provenir’s leading-edge credit risk decisioning platform that transforms the way you manage customer portfolios and enhance risk decisions.

Learn to harness the power to spot the next best offer, reduce default risk, and anticipate customer needs — all in a single, scalable software solution. Stay ahead of the curve with Provenir’s proactive risk management— tailor-made to not just meet your needs, but to anticipate them.

Discover the broad capabilities of our platform with a live demo of Provenir’s software. You’ll get a glimpse at its multiple processing capabilities, flexible data orchestration, and the utilization of both augmented and alternative data for a comprehensive view of customer financial health. Experience first-hand how continuous improvement and behavior prediction are made possible through advanced testing and diverse data sources.

Watch now to take the first step towards maximizing your customer lifecycle value.

Speakers:

  • Andy Beddoes

    Principal Consultant

  • Sam Rohde

    Director of Pre-Sales, North America

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Redefining the Automotive Financing Customer Experience with Technology

Written by Amy Sariego on . Posted in Resource, Webinars. No Comments on Redefining the Automotive Financing Customer Experience with Technology

ON-DEMAND WEBINAR

Redefining the Automotive Financing Customer Experience with Technology

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We all know the current market challenges: economic uncertainty due to rising interest rates and inflation, along with consumer expectations of instant credit, rapid onboarding and personalized offers. How can you rethink your competitive position and create a measurable differentiation in a market full of traditional and digital incumbents without increasing your risk?

CIBC’s Paul Harder, VP, Automotive Finance I& Unsecured Lending, and Cheryl Woodburn, Provenir Country Manager, Canada discuss digital transformation in the industry and how lenders can build technology solutions to deliver an elevated customer and dealer experience, while improving the flexibility, speed and agility needed to process higher volumes of loan applications, without compromising accuracy. With ever changing regulatory requirements, fluctuating business conditions and a market need for digital solutions, lenders can leverage the growth in technology to redefine the customer and dealer experience.

Watch this panel discussion to learn:

  • Why automation and technology are the building blocks for competitive differentiation
  • How to leverage advanced analytics to optimize pricing and make more personalized offers
  • How a unified solution for data, AI and decisioning drives the agility and flexibility needed to power exceptional consumer experiences

Also, read: What is Auto Loan Origination?

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