Skip to main content

NEWS

Provenir Achieves Significant Revenue and Customer Growth in 2022:
Expands Global Market Leadership in Data and AI-Powered Risk Decisioning for Financial Services

Allison Karavos
February 14, 2023

The company adds new customers around the globe and grows its employee count as it continues expansion in key markets worldwide

Parsippany, NJ — February 14, 2023 — Provenir, a global leader in data and AI-powered risk decisioning software, today announced strong growth in 2022, achieving 35 percent growth in revenue and expanding its customer base by 24 percent, adding new customers worldwide including AMU Leasing, AutoChek, Davivienda, DeltaPay, Investree, Provu, Quick Finans, Topi and Varo.

Provenir also grew its global workforce, appointing industry veterans in senior sales and leadership roles to support the company’s continued growth in key markets, including Latin America, Africa, Middle East, Europe, Canada, and India, with expansion into France, Germany, Italy, Spain, Turkey, the Balkans and Benelux; Colombia, Brazil and Mexico; and Indonesia, the Philippines and Vietnam.

Provenir also established a new global technology and operations hub in India to meet the growing demand from fintechs and financial services providers for the company’s industry-leading AI-powered data and risk decisioning software for real-time credit decisioning. The hub serves as a centralized location for Provenir global technical teams to develop new solutions to solve customers’ most significant challenges.

“I’m incredibly proud of Provenir and our talented global workforce as we celebrate a year of exciting milestones and continued growth,” said Larry Smith, Founder and CEO of Provenir. “Our results, despite uncertain economic conditions globally, underscore the fact that fintechs and financial services providers need a flexible platform that can provide deep insights instantly. Those organizations that can leverage additional data sources and use AI to test and deploy new strategies quickly will be able to better serve their customers, detect fraud, and capture new market share.”

Additional key highlights / milestones in 2022:

  • Launch of the Provenir AI-Powered Data and Risk Decisioning Platform: Addressing the rapid adoption of artificial intelligence in the fintech and financial services markets, Provenir introduced its award-winning AI-Powered Data and Risk Decisioning Platform, which delivers a unique combination of data, decisioning and AI that provides the foundation for more accurate, automated risk decisions across identity, credit and fraud – allowing organizations to stay focused on innovation and optimizing the customer experience.
  • Introduction of Provenir Brazil: Provenir also introduced its fifth entity, Provenir Brazil, as part of its country-focused market strategy expansion. Brazil is the tenth largest economy in the world, accounting for approximately three out of 10 fintech startups in Latin America.
  • Growth of Provenir Marketplace Data Partners: The Provenir Marketplace expanded to more than 100 data partners, achieving 57 percent growth over the past year. The Provenir Marketplace is a comprehensive fintech data and intelligence ecosystem covering the whole customer lifecycle. This data adds value across key areas such as KYC, origination, credit risk, financial inclusion and fraud.
  • ISO/IEC 27001 and Helios Accredited Certification for Data Security: The company announced it has achieved ISO/IEC 27001 and Helios certifications – globally recognized information security standards which require compliance across all aspects of information security and operations.
  • New Global Partnerships/Collaborations: Provenir established new partnerships and collaborated with key industry leaders to provide its AI-Powered Data and Decisioning Platform to the financial services market. These include:
    • TransUnion Strategic Alliance Distribution Program Through this alliance, TransUnion clients can take advantage of Provenir’s platform to gain deeper insights from more data sources to power a new level of decisioning speed and accuracy.
    • Visa Ready for BNPL – As a member of the Visa Ready for BNPL program, Provenir provides lenders offering Buy Now Pay Later (BNPL) services the ability to make data-fueled and AI-powered intelligent decisions.
  • Award Recognition for Excellence in Innovation: Provenir’s excellence in innovation was recognized throughout the year with distinction in the following industry awards programs:
    • Named to Credit & Collections Technology Power List of Top 20 Companies in 2022.
    • Winner – “Best Credit Risk Solution” in the Credit & Collections Technology Awards 2022.
    • Winner – “Data Solution of the Year for Finance” in the Data Breakthrough Awards 2022.
    • Gold Winner – “AI Platform” in the Juniper Research Future Digital Awards for Fintech & Payments 2022.

Provenir was also recognized as a finalist in the following awards programs: Tearsheet Data Awards 2022, US Fintech Awards, Fintech Futures Banking Tech Awards, and Credit Strategy Lending Awards.

The Ultimate Guide to Decision Engines

What is a decision engine and how does it help your business processes?


LATEST NEWS

AI-powered risk decisioning platform connects fraud scores, identity checks and device validation…
NEWS Provenir Wins‘Best Technology Provider – Risk Decisioning’ in the 2024 Credit Strategy Credi…
NEWS Kueski Selects Provenirto Power its Aggressive Growth and Expansion Plans Provenir and Kuesk…