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Automotive Financing Provider GoFi Selects Provenir’s Data and Decisioning Platform

NEWS

Automotive Financing Provider GoFi
Selects Provenir’s Data and Decisioning Platform

GoFi will benefit from Provenir’s powerful platform to support immediate responsiveness and the best customer experience

Parsippany, NJ —August 2, 2023 — Provenir, a global leader in risk decisioning software, announced today that GoFi, LLC, a leading U.S. consumer automotive financing provider, has selected and implemented Provenir’s Data and Decisioning Platform to assess applicant credit risk quickly for real-time financing approvals.

GoFi, LLC is an AI-centric, digital-first lending platform. Built on a proprietary loan origination system and powered by its integrated machine learning algorithms, GoFi provides auto-decisioned responses across the full credit spectrum. Through simple, intuitive offers, GoFi aims to help partners expand their brand impact and deliver a better customer experience.

“We selected Provenir for several reasons, most importantly, for the platform’s flexibility and customization options. It also allows us to quickly and easily integrate with many different platforms which will allow our business users to take the reins,” said Daniel Garland, Senior Director, GoFi. “We have been able to implement a fully customizable solution that meets our business needs with the vast majority of the implementation being done by our business users.”

“We are pleased to partner with GoFi to power the real-time risk decisioning needed to provide the very best customer experience,” said Kathy Stares, Executive Vice President, North America for Provenir. “From global car manufacturers to independent auto lenders, Provenir empowers auto financing providers of all sizes to make accurate decisions faster while minimizing risk and preventing fraud. Provenir’s data and decisioning capabilities enable our auto financing clients to respond on-the-fly to changing market dynamics and deliver real-time insights to inform smarter decisions.”

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TDS Mini: Want to Launch AI/ML? You Need a Data Detox

PODCAST

TDS Mini:
Want to Launch AI/ML? You Need a Data Detox

AI, banks vs fintechs, alternative data – how do all of these hot topics fit together?

Get the whole picture with a quick, insightful look at emerging technology and the future of fintech with Provenir’s Chief Product Officer, Carol Hamilton, and Finovate’s VP and Director of Fintech Strategy, Greg Palmer.

Listen to the full fireside chat here.

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Featuring:

Carol Hamilton, Chief Product Officer, Provenir

Greg Palmer, VP and Director of Fintech Strategy, The Finovate Group


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Online Retailers Using Embedded Finance With Provenir: J.D. Power, TreviPay, Valuedynamx and Galileo

NEWS

Online Retailers Using Embedded Finance With Provenir:
J.D. Power, TreviPay, Valuedynamx and Galileo

EY estimates that the market size of global embedded finance will grow from $264 billion in 2021 to $606 billion as early as 2025. With the space set to dramatically disrupt the financial sector worldwide, The Fintech Times spoke to industry experts, including Kathy Stares, Executive Vice President, North America for Provenir, to understand the benefits of embedded finance for online retailers. Check out what Kathy and her industry peers had to say.

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TDS Mini: Level Up Your Digital Lending (In Under 10 Minutes)

PODCAST

TDS Mini:
Level Up Your Digital Lending (In Under 10 Minutes)

Want to learn how to provide frictionless lending experiences while boosting risk mitigation in under 10 minutes?

Then this TDS Mini is for you! Listen in on highlights from a discussion between lending experts from Provenir, SEON, DivideBuy, and ID Finance for real-world strategies and lessons on leveling up your digital lending. 

Listen to the full conversation here.

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Tune into our Podcast on Apple or Spotify by clicking the icons below.

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Featuring:

  • Corinne Lleti

    GM, Southern Europe
    Provenir

  • Gergő Varga

    Product Evangelist
    SEON

  • Teresa Byrne

    CCO
    DivideBuy

  • Evgenia Ageykina

    CRO, Spain
    ID Finance


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Breaking the Cycle of Lending woes for SMEs

NEWS

Breaking the Cycle
of Lending woes for SMEs

According to a recent survey conducted by the United Nations Development Programme (UNDP) on the impact of Covid-19 on MSMEs in the Philippines, nearly 36% of the Philippines’ GDP is generated by small and medium-sized enterprises, with 63% of the workforce being employed by these businesses.

Yet, these businesses continue to face constraints in formal credit accessibility.

In this article from The Manila Times, Bharath Vellore, General Manager, APAC, Provenir, discusses the progress in bridging the Philippine SME credit gap both from sides of the private sector and government, and how else stakeholders can do more to facilitate  ease and inclusion for MSME lending.  

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Super Apps Success with FintechOS, Wildfire Systems, Provenir, Agent IQ and Yoosr

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Super Apps Success
with FintechOS, Wildfire Systems, Provenir, Agent IQ and Yoosr

EY estimates that the market size of global embedded finance will grow from $265 billion in 2021 to $606 billion as early as 2025. Super apps are one specific area that looks ready to explode worldwide. The Fintech Times asked experts, including Frode Berg, Managing Director of Europe for Provenir, what factors have driven the success of super apps already. Frode shares his perspective on how super apps can expand economic opportunities and possibilities on several levels while transforming the user experience.

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Working with Alternative Data: A Roadmap

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Working with alternative data:
A Roadmap

Alternative data helps lenders score previously difficult-to-serve groups like thin- and no-file customers. Lenders seeking to serve those client groups need the right technology in place. In this interview with Fintech Nexus, Kathy Stares, Executive Vice President, North America for Provenir, discusses the value of alternative data, the types of technology needed to extract the most value and how organizations can prepare to best leverage insights from alternative data and maximize their benefits from technology.

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Embedding Exceptional Borrower Experience in Embedded Finance

ON-DEMAND WEBINAR

Embedding Exceptional
Borrower Experience in Embedded Finance

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Hosted By: AltFi

The need is clear for financial institutions and fintechs to invest in modernized and digitized core lending functions such as credit decisioning, fraud, and process automation. World-class digital lending experiences are no longer a nice-to-have, but an expected feature. One of those expected features is embedded finance. 

Two-thirds of adults in the UK used embedded financial services in 2022, and giving consumers the embedded omnichannel finance features they want is essential to increase loyalty and grow your business. Just take it from the 80% of companies that offer embedded finance that experienced increased engagement and the 85% that used embedded finance to acquire new customers.

But how can your technology power embedded financial services that cater to customer needs while continuing to prioritize risk management? Watch this on-demand webinar from Provenir and AltFi to explore this question and learn real-world tactics and solutions to balance growth and risk.

Our panel will dig into the power of AI and data-driven credit risk decisioning technology to deliver smooth, personalized embedded finance experiences that make borrowers return and build a foundation for long-term customer relationships. Explore the challenges and opportunities of embedded lending and discover how to:

  • Tailor lending solutions to enhance the borrower experience with personalized offers including loan amount, interest rates, and repayment terms
  • Automate lending processes such as loan underwriting and risk assessment with AI and machine learning
  • Leverage customer data such as financial data, credit history, and behavioral data for more accurate risk assessment and increased financial inclusion
  • Balance risk management and customer experience to optimize the risk decisioning process to cover regulatory compliance and fraud prevention while enhancing customer satisfaction
    Delight customers with instant approvals and seamless, embedded application processes

Speakers:

  • Dominic Hanson

    Head Of Business Development, NewDay

  • Nick Harding

    CEO And Co-founder, Fluro

  • Chris Kneen

    Managing Director UK&I, Provenir


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Provenir Shortlisted as Finalist for Asia Fintech Awards’ LendTech of the Year

NEWS

Provenir Shortlisted as Finalist
for Asia Fintech Awards’ LendTech of the Year

SINGAPORE, July 6, 2023 – Provenir, a global leader in data and AI-powered risk decisioning software, today announced that its Data and Decisioning Platform has been shortlisted as a finalist in the “LendTech of the Year” category for this year’s Asia Fintech Awards, an industry award that celebrates Asia’s fintech community.

Provenir’s Data and AI-Powered and Risk Decisioning Platform was evaluated based on its ability to meet customers’ needs and requirements, how it can achieve critical mass, and the innovative aspects developed to bring the product to market.

“We are thrilled to be recognised as a finalist for this awards program that celebrates the best and brightest of APAC’s fintech community,” said Bharath Vellore, General Manager of Provenir for APAC. “This reflects our growing commitment in Asia to empower lenders in each market with world-class decisioning, comprehensive data and advanced analytics to improve credit assessment on consumers, supporting the underserved population with more equitable lending decisions and providing SMEs access to finance their working capital.”

Winners of this year’s awards will be announced at Asia Fintech Awards’ ceremony on August 24 at the Hilton Singapore Orchard.

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Improving Lenders’ Consumer Duty Through Data & Technology

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Improving Lenders’ Consumer Duty Through Data & Technology

With the new Customer Duty legislation due to come into force on the 31st of July, the Financial Conduct Authority (FCA) is attempting to establish higher and clear standards for consumer protection.

To comply, both traditional financial institutions and nimble fintechs must embrace flexible technology solutions. Frode Berg, Managing Director for Europe at Provenir, reflects on the unique advantage AI-powered credit risk decisioning provides in ensuring compliance, mitigating fraud and customizing lending solutions for a better customer experience.

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