Provenir and Kueski partner to help eliminate financial exclusion in Latin America
Mexico City — June 13, 2022 — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced that Kueski, one of the largest buy now, pay later (BNPL) and online consumer lenders in Latin America, selected Provenir’s AI-powered Risk Decisioning Platform to fuel its aggressive growth goals for its BNPL offering, KueskiPay.
Kueski’s mission is to make the financial lives of people in Mexico easier by expanding access to traditional financial products and services to millions of underserved, underbanked consumers. This requires fresh approaches in determining a consumer’s ability to pay, such as analyzing alternative data versus traditional credit checks. So far, Kueski has disbursed more than 6 million loans, totaling nearly $1 billion in accumulated disbursed capital. Its collaboration with Provenir will help the platform to continue to grow and consolidate itself as the leading BNPL solution in the LATAM region.
“Today we are using AI, machine learning, and big data, but knew that we needed a more robust, flexible, risk decisioning platform to support our growth and product expansion plans,” said Héctor Cuesta, Director of Product Management at Kueski. “Provenir’s AI-powered Risk Decisioning Platform provides access to more diverse data which will give us deeper insights so we can make the best decision for our customers. Provenir can also be implemented quickly, enabling us to realize these benefits and achieve our business goals.”
Provenir brings together the three essential components needed – data, AI, and decisioning – into one unified risk decisioning solution to help organizations provide world-class consumer experiences. 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.
“Provenir and Kueski are both committed to using technology to help eliminate financial exclusion in the region,” said Jose Luis Vargas, Executive Vice President and General Manager of Provenir. “With our platform, Kueski can use champion/challenger testing strategies to deploy decisioning models optimized specifically for underserved individuals.”
This partnership will improve Kueski’s data analysis, allow for a deeper understanding of its customers, and further position Kueski as an innovative and disruptive financial services player. Provenir will support Kueski in strategic decision making, and be able to quickly identify, prioritize and execute any next steps, allowing Kueski to focus on its main mission of financial inclusion for all.