Provenir enters exploding fintech market in Brazil
Parsippany, NJ, May 18, 2022 – Provenir, a global leader in AI-powered risk management software for fintechs, today announced its first customer in Brazil: Provu, a fintech specializing in payment and personal credit, based in São Paulo.
Provu is a pioneer in the Buy Now Pay After (BNPL) solution in Brazil, with which merchants offer customers a form of payment in installments without a credit card and receive the value of the purchase in cash. The process is done in a completely digital way, from a brief credit analysis of the potential buyer.
This Brazilian fintech, which also operates in online personal lending, was looking for a native cloud decision platform to boost and scale its offerings as it grows, giving its credit team independence to make changes, as well as allowing them to launch new products quickly and connect with new data providers without difficulty.
“One of the pillars to revolutionize the credit market is a quick customer decision response time,” said Renato Mesquita, Provu’s Director of Risk (CRO). “In this sense, the partnership with Provenir is strategic. With the technology and robustness of Provenir’s credit decision engine, already adopted by major international references, we will be able to automate our credit intelligence without overloading internal resources, ensuring answers and analysis of more complete and efficient credits,” adds Renato.
“We are excited to partner with Provu, a pioneering and innovative company, which will help bring new digital financial offerings to the Brazilian population,” said Jose Luis Vargas, Executive Vice President for Latin America at Provenir. “We are seeing unprecedented demand from startups, fintechs and neobanks across the country for real-time credit decisions. Provu has understood that our risk decision-making platform with artificial intelligence will allow them to optimize the customer experience throughout its lifecycle. Provenir is expanding its investments in Brazil to meet this demand more quickly and accurately.”
Provenir’s AI-based risk decision-making software is the industry’s first true risk decision ecosystem. The platform enables a comprehensive real-time view of decision performance, third-party data and history, as well as automated analytics. Through a unified digital experience, users can create the cloud solution as platform-as-a-service (PaaS) that best meets the needs of their business.