The Provenir technology partnership has been key to enhancing Hastings Financial Services’ loan decisioning, for improved scalability, optimized customer experience and operational agility
Parsippany, NJ – Nov. 25, 2024 – Provenir, a global leader in AI-powered risk decisioning software, and Hastings Financial Services have been recognized for excellence in this year’s IBSi Global Fintech Innovation Awards.
The companies’ collaboration was honored in the “Best Digital Lending Implementation: Most Impactful Project” category for revolutionizing digital lending for U.K. consumers. Winners were unveiled Nov. 22 at an awards ceremony at Taj Lands End in Mumbai.
The IBSi Global Fintech Innovation Awards celebrate banking technologists driving exceptional advancements in the fintech sector, recognizing efforts that redefine industry standards and enhance global financial services.
Hastings Financial Services processes an impressive £350 billion in quotes annually, serving the diverse lending needs of consumers. Seeking to modernize its digital customer experience, Hastings partnered with Provenir to implement cutting-edge technology, data integration, and decision-making capabilities. The result is a seamless, fast, and customer-centric lending process that reacts swiftly to changing market conditions and consumer needs.
At the heart of this innovation is Provenir’s AI-powered Decisioning Platform, which has enabled Hastings to deliver exceptional digital experiences and best-in-class decisioning.
Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence congratulated Provenir and Hastings Financial Services for the well-deserved win in the category, ‘Best Digital Lending Implementation: Most Impactful Project.’
“Hastings Financial Services has raised the bar in digital lending through its strategic partnership with Provenir,” said Gokhale. “The integration of Provenir’s AI-Powered Decisioning Platform has enabled sub-2-second quote times and expanded quote capacity from 25,000 to 111,000 daily, covering 95% of the Price Comparison Website market. This implementation exemplifies agility and innovation, positioning Hastings as a market leader.”
“Hastings is a technology and data driven fintech company, dedicated to giving our customers a fair, easy to understand loan process by implementing innovative technology solutions into our stack, which also enables our ambitious growth plans; our partnership with Provenir allows us to meet this ambition.”
“Hastings Financial Services has quickly established itself as a major player in the U.K. lending market, thanks to its ability to scale rapidly, deliver swift decisions, and provide exceptional customer experiences,” said Ryan Morrison, Provenir’s Executive Vice President. “Hasting’s innovative use of technology supports the delivery of tailored lending solutions that meet the evolving needs of U.K. consumers. The firm is setting a new standard for digital lending and differentiating itself in a highly competitive market.”
