Skip to content

Auto Lending

Outcome

Flexiplan

June 9, 2021 | Liz Upson

How Flexiplan has improved its motorcycle financing approval process while managing risk more effectively

  • CheckmarkManaged risk more effectively and efficiently
  • CheckmarkIncreased agility to respond to its customers through its digital platform and point of sale
  • CheckmarkImproved time taken to approve a loan

“With its best-in-class technology for global financial companies, Provenir will be one of our strategic partners helping us operationalize risk models and provide real-time solutions to the market.”


Tito Gutiérrez, Country Manager at Flexiplan

The Challenge

Founded in El Salvador as a motorcycle sales company, Flexiplan evolved into a digital financing platform after noticing a high volume of customers who were poorly served or advised financially. Flexiplan helps motorcycle dealers increase sales while providing valued customers for bank partners. The company is built upon the belief that flexible credit enabled by modern technology is a powerful tool to promote commerce and a better quality of life for consumers. Flexiplan’s challenge was to improve its credit risk decisioning process in regard to its effectiveness and efficiency.

Why Provenir

Flexiplan needed a flexible platform that delivered more agile and effective credit risk management and decisioning in order to grow and scale its business. Upon selecting Provenir, Tito Gutiérrez, Country Manager at Flexiplan said “With its best-in-class technology for global financial companies, Provenir will be one of our strategic partners helping us operationalize risk models and provide real-time solutions to the market.”

Faster and better financing approvals: happier clients

In the pursuit of growing its business, Flexiplan implemented the Provenir Risk Decisioning Platform to meet all its credit risk decisioning needs, including real-time loan approval, process automation and easy API integration. With more efficient decisioning processes, Flexiplan can manage risk more effectively, giving it the agility to respond to its customers through its digital platform and point of sale while driving business growth. Based in El Salvador, Flexiplan plans to expand to multiple countries in Central America and the Caribbean, and as a global company, Provenir is well-positioned to support this vision.

Provenir acts as the front end for Flexiplan’s credit approval process. It defines the steps to follow in order to make a good credit decision in an efficient manner. With the real-time insights delivered by the Provenir platform, Flexiplan expects to approve up to 60 loans in the time it would have previously taken to approve one and achieve a 40% growth of its business. According to Gutiérrez, “Provenir is very versatile as it allows us to seamlessly adapt our business behavior to what the market requires, and we are considering the use of alternative data in the future to further improve the approval process.”

Gabriela Herrera, Senior Sales Executive for Provenir Latin America, said “It has been a pleasure to contribute to Flexiplan’s digitalization journey and continued growth with Provenir’s real-time risk decisioning process, allowing for loan approvals in milliseconds. The niche segment of motorcycles has experienced regional growth over the past few months, and Flexiplan is well-positioned to take advantage of it and make waves in El Salvador and beyond. Provenir’s flexible platform, which can be seamlessly adapted to various markets, will be a great ally for Flexiplan as it expands its business.”

Latest outcomes