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Transforming Financial Institutions through Data-as-a-Service

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NEWS

Transforming Financial Institutions
through Data-as-a-Service

Outdated system capabilities, limited access to data and outdated decisioning engines make it difficult for many financial institutions to implement advanced credit models to gain a holistic view of the consumer and help make more equitable credit decisions.

Financial institutions will increasingly depend on data as the go-to solution to accelerate innovation and create opportunities. In this article in Financial CIO, Bharath Vellore, General Manager of Asia-Pacific at Provenir, discussed the role Data-as-a-Service (DaaS) plays in opening doors to improve credit decisioning and ensure financial inclusivity, through efforts to bank the unbanked in Southeast Asia.

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Ten Companies Using Alternative Data for the Greater Good

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How BNPL Providers can Future Proof Their Technology Platforms

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How BNPL Providers
can Future Proof Their Technology Platforms

In the fast-moving BNPL sector, risk decisioning that’s accurate and based on real-time information is essential. Equally important is the ability to adapt and comply with a changing regulatory landscape.

In this interview with Nordic Fintech Magazine, Frode Berg, General Manager of EMEA for Provenir, discusses how an AI-powered, purpose-built risk decisioning platform can deliver benefit for BNPL consumers and merchants.

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Provenir Expands its Presence in Spain, Growing the Company’s Global Footprint

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NEWS

Provenir Expands its Presence in Spain,
Growing the Company’s Global Footprint

Sales and SaaS industry veteran Pablo Pérez Álvarez joins team in response to increasing demand for company’s AI-powered risk decisioning software

Parsippany, NJ — Sept. 20, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced Pablo Pérez Álvarez will be joining the company’s sales team in Spain to serve the growing number of financial services organizations seeking AI-powered risk decisioning solutions. Pérez Álvarez will be responsible for creating go-to market strategies and leading business development activities.  

Prior to joining Provenir, Pablo served as a business development executive in the SaaS industry. He has experience defining marketing and commercial strategies, developing sales strategies, and identifying market opportunities. Alvarez will be based in Valencia.. 

“Financial services providers and fintechs must deliver personalized customer experiences and meet consumer expectations for instant decisions to remain competitive,” said Frode Berg, Provenir’s Managing Director of EMEA. “A growing number of organizations are seeking our AI-powered risk decisioning platform to gather deeper insights from many types of data and make automated decisions that best serve the needs of consumers. Pablo will help us meet this quickly growing demand in the region.” 

Provenir’s AI-powered risk decisioning software is the industry’s first, true risk-decisioning ecosystem for financial services organizations. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience, users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs. 

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Inovatec Partners with Provenir to Deliver Advanced Decisioning Solutions to Lenders

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NEWS

Inovatec Partners with Provenir
to Deliver Advanced Decisioning Solutions to Lenders

AI-Powered Capabilities Improve Accuracy and Efficiency to Accelerate Automobile Lending  

BURNABY, BC, September 20, 2022 – Inovatec Systems, a major provider of industry-leading, cloud-based software solutions for lenders, announced it has entered into a partnership with Provenir, a global leader in AI-powered risk decisioning software. As a result, Inovatec’s roster of automobile lenders can access Provenir’s proven portfolio of AI-driven decisioning solutions through open APIs that are embedded into Inovatec’s market-leading LOS platform. 

Headquartered in Parsippany, New Jersey, Provenir is a global provider of smart decisioning solutions that enable lenders, finance companies and other financial institutions to lower risk and make faster, more accurate decisions on credit applications. The company’s Provenir AI-Powered Decisioning Platform is a no-code cloud-based solution that serves a multitude of markets, including BNPL, retail point-of-sale, fintech, banking, as well as automobile lending.

“Inovatec’s configurable loan origination and loan management solutions efficiently support third party solutions that improve the speed, reliability and efficiency of the entire lending process,” said Bob Metodiev, head of business development at Inovatec. “We are very happy to make Provenir’s decisioning solutions available to our customers and deliver these robust benefits. This integration continues our effort to ensure that the lenders we serve have access to the most impactful services available in the market.”    

Inovatec’s LOS, LMS and Consumer Direct technology allows lenders to streamline loan processing, decisioning, and management with intelligent automation that can be configured to meet lender needs. The company’s offerings enable lenders to leverage a range of innovative services through open APIs, giving lenders the power to adjust workflows and utilize advanced features like analytics and alternative data to make accurate decisions, grow their portfolios and build marketshare.

“We are excited to partner with market leader Inovatec  to help lenders provide an excellent consumer experience while meeting consumers demand for real-time decisions,” said Kathy Stares, executive vice president, North America for Provenir. “Through the unique combination of universal access to data, simplified AI and world-class decisioning technology, Provenir provides a cohesive risk ecosystem that enables organizations to make smarter decisions instantly across the entire customer lifecycle. Combined with Inovatec’s industry-leading solutions, lenders will be empowered to make smart, automated decisions while providing the best possible experience to their customers, thus gaining a competitive advantage.”

For information on Inovatec’s integrated loan origination system, loan management system, and customer portal solution, visit www.inovatec.com.

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ID-Pal

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Partners

ID-Pal

Real-Time Identity and Address Verification across any customer channel

Key Benefits

  • Compliant by design. Fully customizable. The best of both worlds: An out-of-the-box solution available as an API/SDK. Integrate seamlessly with existing KYC/KYB processes. Customize every touchpoint for your AML and KYC process in a branded business portal.
  • Simple, seamless and secure. Delight users with a seamless onboarding experience. Enable real-time decision-making for your team. Prioritize high-risk submissions and remove bad actors sooner using a multi-layered verification solution that verifies both identities and addresses in seconds.

“With a relentless focus on continuously improving our customer experience, we look forward to continuing to work together with ID-Pal to further enhance our on-boarding experience, bringing efficiencies to our clients and partners whilst also achieving our regulatory compliance objectives.”

HUBERT O’DONOHUE, GENERAL MANAGER OF AIB MERCHANT SERVICES

Identify Verification. Made Simple.

ID-Pal enables the seamless exchange of trusted identities anytime, anywhere. For your business, it gives confidence in decisions made while saving time and money from the efficiencies delivered.  Our use of biometrics, AI and database checks offer the easiest and fastest way to a robustly verify an identity.

ID-Pal delivers:

  • A seamless user experience that enables a customer to verify their identity credentials in real-time across any channel, simply and securely.
  • Robust multi-layered verification of an individual’s identity and address, with fraud prevention and data protection best practices integrated into every step of the journey.
  • Accelerated digital transformation with a solution that maximizes customer conversion rates whilst preventing fraud at source during onboarding – a key component of a compliance framework.

Resources

About ID-Pal

  • Services

    • Identity & Address Verification: Industry-leading Biometric, Facial and Document checks.
    • Global Coverage: 6000+ Identity Documents and 200+ Verified Address Data Sources.
    • Onboarding Efficiencies: Automated decisioning, dynamic workflows for streamlined exceptions process.
    • Built-in Compliance: Best Practice AML & GDPR compliance built into every step of the journey.
    • Transparent Audit Trail: Comprehensive Client Due Diligence Report automatically generated within business portal.

  • Regions Supported

    • Global

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FinTech Tools, Security Concerns Top of Mind for Gen-Z Banking

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FinTech Tools, Security Concerns Top of Mind for Gen-Z Banking

Younger generations’ expectations of engaging or interacting with a bank or financial institution is very different from that of previous generations. These digital native consumers expect instant decisions, personalized offers, and automated, digital experiences. This requires

In this InformationWeek article, Kathy Stares, Executive Vice President, North America for Provenir, shares her thoughts on how banks and FIs can gain deeper insights by using more data sources, AI and machine learning to power a new level of decisioning speed and accuracy.

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Codat

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Partners

Codat

Make Faster, More Accurate SMB Credit Decisions

Key Benefits

  • Get smarter insights and a 360° view of your small business customers’ financial health. Assess enriches your customers’ real-time accounting, commerce, and banking data and surfaces intelligent insights you didn’t have before. Assess enriches your SMB customers’ data and produces actionable insights to help you underwrite better.
  • Say yes and launch new products faster. Simple and quick data sharing for business customers. SMB data in the right format, ready to be plugged into credit models. Access to real-time data with the ratios and metrics you need to launch new products faster.

“Accounting data is a critical part in making the best investment decisions for Clearco’s customers. Codat’s API allows us to quickly assess accuracy and risk while at the same time maintain our streamlined application process.”

BEN BRIDEAUX, DIRECTOR OF OPERATIONS AT CLEARCO

Codat is the Universal API for Small Business Data

Codat helps banks build deeper connections with business customers.

We offer products that make it easy to access, synchronize, and interpret data from customers’ financial software for specific use cases, such as onboarding suppliers to commercial card programs and underwriting business loans.

Codat is used by the largest banks in the world to grow share of wallet, reduce churn & scale their operations. We are backed by leading investors including JP Morgan, Canapi Ventures, Shopify, Plaid, Tiger Global, PayPal Ventures, Index Ventures, and American Express Ventures.

Resources

About Codat

  • Standardized Integrations

    Accounting API – Connect to your SMB customers’ accounting data

    Commerce API – Connect to your SMB customers’ commerce data

    Open Banking API – Connect to your SMB customers’ banking data

  • Automate Reconciliation

    Sync for Commerce – Embedded accounting integrations for PoS and eCommerce platforms

    Sync for Expenses – Embedded accounting integrations for corporate card providers

  • Regions Supported

    Global

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Infinian

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Partners

Infinian

Infinian Vision – Credit Application Data

Key Benefits

  • Affordability, Vulnerability & Credit Risk. Use Infinian’s real-time market intelligence from millions of consumer credit interactions to find additional data points, identify high-risk individuals and set up early warning alerts to mitigate risk and comply with regulations.
  • Collections, Tracing & Fraud Prevention. Infinian’s unique dataset also helps firms with credit acquisition lifecycles and protects against losses. With comprehensive fraud prevention and detection solutions, Infinian insights power frontline financial crime prevention investigations. Infinian also provides tools that help firms improve and build unique, segmented collections strategies.

“Data from Infinian is unique to the market, and provides granular credit application data, which helps us perform appropriate due diligence checks that ensure our customers’ activity is affordable as well as fun.”

DAVID SMITH, MLRO & HEAD OF RISK AT BOYLESPORTS

Endless Data, Endless Insights

Infinian provides highly insightful data to the gaming sector, fintech companies and some of the largest global data businesses and credit bureaus.

Infinian Vision is a consumer-focused database informed by hundreds of data sources in real time. Unique and powerful, Vision is proven to be highly valuable to lenders, credit providers and data businesses to enhance the quality of their affordability, vulnerability and credit decisioning of their customer databases.

Infinian’s unique data insights are used across a wide range of industries and sectors allowing businesses to manage their data and track customer behavior effectively. Utilizing Europe’s largest marketplace for consumer credit applications, Infinian is uniquely positioned to assist businesses seeking to improve their decisioning systems, responsiveness and fraud detection.

Infinian services:

  • Lenders and Banks – Infinian helps major financial institutions manage their data and decisioning process
  • Risk and Fraud Agencies – Infinian data assists in identifying high-risk individuals and fraudulent activity
  • Debt Collections Agencies – Track missing customers, build new, segmented collections strategies and improve lines of customer communication
  • Gambling and Gaming Sector – Identify vulnerable customers and protect consumers in financial distress

About Infinian

  • Services

    • Vulnerability and Affordability Analytics
    • Affordability Risk
    • Collections and Tracing
    • Initial Vetting
    • Credit Risk Tools
    • High Risk Case Removal at Source
    • Identify Additional Information cases
    • Account Origination
    • Decline High Risk
    • Customer Limit Management
    • Assessment of Medium and High Risk Customers
    • Disposable Income Assessments
    • Identification of Financial Vulnerability Indicators
    • Replacement of Bureau Search Insights (quote search)
    • Fraud and Financial Crime Prevention
    • First Party Fraud Identification
    • Assess General Vulnerability
    • Macroeconomic Financial Trends

  • Countries Supported

    • United Kingdom
    • United States
    • Australia

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