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NEWS

Creator of the world’s first philanthropic credit product takes home top honors in the “PayTech for Good” category

Parsippany, NJ — July 5, 2023 — Provenir, a global leader in data and AI-powered risk decisioning software, today congratulated its customer B Generous for winning the “PayTech for Good” category of the PayTech Awards 2023.

The PayTech Awards celebrate and recognize outstanding achievements in the use of technology in the finance and payment industry worldwide. The “PayTech for Good” category recognizes technology providers that actively put the wider community first and demonstrate the values of connection, collaboration, and generosity above and beyond the usual confines of business goals.

B Generous developed the world’s first philanthropic credit product – the groundbreaking Donate Now, Pay Later™ (DNPL) platform – which enables donors to finance their donation over time without having to pay anything out-of-pocket at the point of donation. Donors get the full tax deduction right away; the nonprofit receives the full funds immediately, while the donor gains the flexibility to pay in installment payments over 3, 6 or 9 months with no interest or fees.

DNPL fundamentally solves the liquidity problem for nonprofits, without putting pressure on donors’ finances, allowing people to give what they want, not merely what they feel constrained to give. B Generous donors give $460 on average – 260% greater or 3.5x more than the average charitable donation of $128.

B Generous’s DNPL offering involves an instant soft credit check. Once completed, offers are presented with loan terms with no interest or fees and no impact on donors’ credit scores. This is executed in near real-time, through use of the Provenir AI-Powered Data and Risk Decisioning Platform, which offers a streamlined single point of access to myriad bureaus and data sources for more accurate credit decisioning.

“Provenir congratulates B Generous for being recognized for exceptional technical ingenuity and breakthrough innovation,” said Kathy Stares, Provenir’s Executive Vice President for North America. “Provenir is proud to be the credit decisioning platform provider that is helping support B Generous’s vision to transform the world of philanthropy and put real substance behind the ‘paytech for good’ movement.”

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