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Loan Origination
for Credit Unions

Allison Karavos
June 29, 2021

Credit Unions are known for their ability to provide excellent member service, and have the flexibility to be more personal than the big bank. However, many Credit Unions struggle to find the balance between a technology-driven lending market and the hyper-personal experience they provide. How does the Credit Union keep its identity while marketing itself to an increasingly automated world?

Growing Credit Unions need systems that provide automation for speed and flexibility, along with segmentation and integration that ensure a personalized member experience. And all of this must be done without the need for an IT team or cumbersome vendor relationship.
That’s why Provenir does the hard work of simplifying your loan origination experience. Innovative, user-focused tools empower Credit Unions to easily roll-out member-focused credit and lending processes. With Provenir, you can:

  • Launch configurable online credit applications and member portals
  • Automate risk decisioning and offer instant credit scoring
  • Rapidly integrate with any data source using visual adapters, including credit bureaus, alternative bureaus, and web applications
  • Streamline KYC, AML and member onboarding processes for simplified compliance
  • Engage qualified members across multiple channels with pre-approval offers based on historical data analysis and powerful member segmentation capabilities
  • Enable business users to create and change decisioning processes and UI in minutes

It all adds up to higher customer satisfaction, greater efficiency, lower risk and unprecedented simplicity.

User-friendly Technology to Empower Growth

Flexible End-to-End— Provenir’s unified platform future proofs your investment. It offers a complete solution for managing virtually any risk analytics and decisioning workflow such as loan origination, merchant onboarding, KYC/AML, credit risk decisioning, behavioral and predictive scoring and collection strategies. All with the flexibility to use only the tools you need.

Agile Configuration Visual configuration tools promote business agility and independence. Create, change and deploy user interfaces, rules, process flows and integrations without high-cost vendor engagement or extensive coding.

Simplified IntegrationPre-built adapters cut integration effort. Quickly integrate with internal and external databases, CRM systems, websites, social channels and data bureaus to automatically aggregate all the data needed for accurate decision making.

Operationalized Analytics— Provenir makes it easy to operationalize risk models developed in industry-standard analytics tools, including SAS, R, Excel or any tool that supports PMML or MathML. Provenir runs models natively, enabling less testing, quicker time to benefit, and the ability to design and test once, use anywhere. You can connect models to a decisioning process in minutes and without any coding, ensuring risk decisioning is always using the most up-to-date intelligence.

Orchestration Hub— End-to-end orchestration streamlines every step in the process. Provenir’s platform automatically captures and enriches data, uses existing analytic models to determine the risk profile and moves the decision to the appropriate next step.

Underwriting Task Management— For exceptions that require further underwriting, Provenir’s task management starter kit will keep cases moving quickly. And, if your underwriting process changes, Dynamically configurable UI tools allow for simple, drag-and-drop updates.

Also read: What is credit underwriting?

Powerful User Experience— Provenir’s Dynamic UI gives you the tools you need to build rich online credit applications and member portals. A library stocked with pre-built apps, paired with dragand-drop development, means you’re already on your way to a digital lending experience without a single line of code.

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