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Outcome

Doruk Faktoring

April 21, 2022 | Jonathan Pryer

Flexible Platform Speeds Decisioning and Opens Door to New Offerings and Markets

  • Reduced approval process time from 30-60 minutes to under one minute
  • Minimal IT support required during implementation and in production
  • Time-to-value in under three months
  • Expanded market to compete directly with banks for SME lending
  • User friendly, flexible platform supports new risk tools and offerings
  • Easily develop and run models written in native Python or R directly in Provenir, saving time and improving efficiency
  • Ability to quickly integrate with different data types including credit bureau, web services and in-house databases

“We now have a robust risk management system that also allowed us to create an early warning process so we can screen our portfolio daily, something that was impossible to do manually.”  

Ilker Arslan, Business Analytics Director

The Challenge

Doruk Faktoring’s mission is to expand their portfolio of corporate clients by serving micro and mid SMEs and to provide the fastest and easiest faktoring solutions using digital channels and analytics solutions. To support this growth, they needed to replace their manual processes with automated decisioning and needed a solution that could be implemented quickly. With a small IT support team, they were also seeking a user friendly, flexible platform that would require minimal IT support in both implementation and production phases.

Why Provenir

Doruk Faktoring chose Provenir over other vendors and developing their own decisioning engine in house for several reasons, chiefly the platform’s flexibility, minimal implementation time and reliance on IT, and cost effectiveness. The ability to develop and run models written in native Python or R directly in Provenir was also a key advantage over competitors. Provenir also provides the capability to easily integrate with different data sources including credit bureau, web services, and their own databases.

Ready for Growth and New Markets

With Provenir installed, existing manual approval processing that took 30-60 minutes is now completed in less than a minute. “Without this speed, it is impossible to grow. This is step one to offering better digital resources to small companies,” said Ilker Arslan, Business Analytics Director. “We now have a robust risk management system that also allowed us to create an early warning process so we can screen our portfolio daily, something that was impossible to do manually.”

Provenir’s Professional Services team helped Doruk Faktoring go live quickly. “I am accustomed to IT projects taking much longer to implement so I had my doubts when Provenir presented a three-month timeline,” said Arslan. “The entire Provenir team was very knowledgeable and supportive. We actually went live even sooner. My team is very self-sufficient now, thanks to the training Provenir provided. They are also very quick to respond when we do have questions.”

With automated decisioning, the sphere of competition expands. “With this digitalization, we can now compete with banks. When a small SME goes to a bank for credit, the credit line process may take weeks. But with our fast and quality digital service, we can finalize a request in a few minutes and pay the customer the same day,” added Arslan.

“For any process where we need to run analytical models, we can easily use Provenir,” said Arslan. “We now have the foundation in place to grow and offer more services in the future.”

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