NEWS

White Oak Chooses Provenir Cloud to Power Business Lending

Provenir supports independent business lender White Oak with a cloud-based risk analytics platform to power its business lending credit decisioning process.

Provenir, a global leader in risk decisioning and data analytics software, announced today that White Oak has chosen Provenir technology to support its digitization and innovation strategy, accelerating a move to a fully automated origination process across its business loans and asset finance products.

Nick Isaacs, Chief Risk Officer, Leases and Loans, at White Oak said, “For over 30 years, we’ve been helping thousands of entrepreneurs and small businesses across the UK by helping them with their working capital needs. As an accredited CBILS lender, we are continuing to see higher volumes of applications via our direct and aggregated channels, and we are committed to delivering the smoothest lending experience possible.”

“We have chosen Provenir to ensure we have the best technology in place to provide our clients with a better service. This partnership allows us to make real-time risk decisions with a fully automated lending experience. Provenir has an impressive track record in the industry and their low-code platform will give us the flexibility to build new models, integrate new data sources easily and enhance our underwriting process.”

Chris Kneen, Sales Director at Provenir adds, “We are delighted to be supporting White Oak with our cloud-based risk analytics platform. They are playing a crucial role in the UK SME finance market right now and have a clear vision to further disrupt the way businesses can access funds with little fuss – adopting our agile technology to enhance the speed and accuracy of credit decisions is a key component of their innovation strategy. We’re really excited to have White Oak onboard to our cloud-based solution which will complement their first-class customer service.”

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

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Flexiplan selects Provenir to automate real-time risk decisioning for motorcycle finance

Miami, Florida – September 16, 2020 – Provenir, a leading risk analytics software company, today announced Flexiplan as a new client in San Salvador, El Salvador. Flexiplan is a motorcycle lending company that provides financial solutions to help clients improve their day-to-day activities across three key areas: mobility, productivity, and quality of life.

In the pursuit of growing its business, Flexiplan chose Provenir to meet all of its credit risk decisioning needs including real-time loan approval, automation, and easy API integration. With more efficient decisioning processes, Flexiplan will be able to more effectively manage risk, giving it the agility to respond to its customers through its digital platform and point of sale.

Tito Gutiérrez, Country Director of Flexiplan, emphasized: “At Flexiplan we believe that flexible credit, enabled by the modern technology, is a powerful tool that promotes commerce and a better quality of life for consumers. 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.”

Gabriela Herrera, Business Development Manager for Latin America, highlighted: “We are delighted to have Flexiplan as our first client in El Salvador. It is a pleasure to help them replace the manual processes and support its digitization journey. Provenir’s powerful Platform will not just power automation of the risk decisioning process in real-time to approve loans in milliseconds, but will also drive business growth. Companies like Flexiplan represent a great opportunity for Provenir and we are happy to have them as part of our expansion in Latin America.”

Provenir—through its innovative product—helps startups, Fintechs, and financial institutions with the digital transformation process. In the case of Flexiplan, it will help mitigating credit risk, as well as improving the loan approval rate for motorcycle financing.

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

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A ‘virtual’ team effort; GoBear deploys Provenir Cloud to power digital financial services in ASEAN

Provenir supports GoBear’s financial inclusion goals with cloud-based risk analytics platform deployed via ‘virtual’ teams

Singapore – April 22, 2020– Provenir, a leader in risk decisioning and data analytics software, announced today that GoBear has chosen the Provenir Platform to power innovative user experiences for its customers, and has deployed the technology through a ‘virtual’ team approach amidst the current COVID-19 crisis. Singapore-based fintech GoBear is an industry-leading and highly innovative financial services organization focused on improving financial inclusion throughout the ASEAN region.

The Provenir Platform was selected for its ability to support GoBear’s innovation plans and to empower the business to meet the increasing demand for simplified, digital-first banking experiences throughout the region. GoBear will use the Platform to process and assess insurance and loan applications in real-time through Provenir’s cloud-based risk analytics solution and use the low-code Platform to rapidly implement and iterate risk processes.

“To fulfil our core mission to improve financial inclusion, we needed to provide a simplified, fast and effortless experience for our users,” Nelius Strydom, Chief Product Officer of GoBear explained. “Provenir’s user-friendly solution allows us to be in full control of our risk strategy while powering real-time decisioning for our customers. With the speed and flexibility of the Provenir Platform driving our decisioning, we will be able to manage and configure business logic or risk policy as the company grows.”

“We are very excited to have GoBear onboard using Provenir’s cloud-based Risk Analytics and Decisioning Platform to deliver a real-time, world-class digital experience to its customers,” said John Warren, Provenir’s General Manager of the APAC region. “Despite the constraints of the COVID-19 crisis, huge dedication and versatility has been shown by Provenir and GoBear’s ‘virtual’ teams to deploy the platform on time yet 100% remotely. This is a great example of adapting in these challenging times to continue to deliver for our clients.”

Patrick Tan, Regional Account Director at Provenir added, “We originally planned to conduct a large part of the deployment onsite. This was quickly reviewed in light of the growing crisis and the development and training teams from Asia and the UK were able to collaborate seamlessly via remote technology – an incredible coordinated effort. We’re confident that we can help GoBear achieve the agility and scalability it needs to succeed and grow in Asia’s increasingly competitive financial services landscape.”

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

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Industry leaders, Provenir and Meridian Credit Union, partner to power industry leading banking experiences for Members.

New Jersey, US – March 11, 2020 – Provenir, a leader in risk decisioning and data analytics software, announced today that Meridian has selected the Provenir Platform to help power innovation strategies and deliver world-class lending experiences for its members. Meridian, Ontario’s largest credit union and the third largest in Canada, is a recognized leader with notable industry-first digital innovations.

Provenir’s Platform will now form the technology foundation used by the Meridian team to robustly manage credit risk, allowing Meridian to rapidly respond to member needs. The Platform processes, assesses, and decisions credit applications in real-time, mitigating potential risks while powering industry-leading consumer experiences.

“With Meridian’s ambitious innovation plans and deep focus on delivering a differentiated experience along with a superior level of service to our Members, the partnership with Provenir is an obvious choice, “said Leo Gautreau, Chief Risk Officer at Meridian  “We will be able to make decisions faster, using accurate and real time data customized to better meet the needs of our Members.”

Provenir’s Executive Vice President for the Americas, Kathy Stares, is thrilled to partner with Meridian, “It’s an incredible opportunity to work with such a creative team and we’re excited to help Meridian lead innovation in the Canadian financial services industry,” said Stares. “It’s rewarding to see the Platform used to power outstanding digital lending experiences and we’re confident that we can help Meridian to continue to support its members with exceptional services as it grows throughout the region!”

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

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Provenir and Creci partner to drive lending innovation, agility and credit risk management to provide social impact companies with faster access to funding.

Miami, Florida – March 4, 2020 – Provenir, a leading risk analytics software company, today announced Creci as a new client. Creci is a Colombian-American Fintech specializing in providing credit to small businesses, both in Latin America and the United States, that generate social impact and are focused on achieving the Sustainable Development Objectives defined by the United Nations.

Creci—a new start-up based in Hollywood, Florida, with offices in Medellin—chose Provenir to meet all of its credit risk decisioning needs. With Provenir, Creci will approve loans instantly through its digital platform and operationalize risk models in real time using the integrations offered by Provenir, thus ensuring future business agility and growth.

Andres Idarraga, CEO and Co-Founder of Creci, explained, “In order to develop our own risk decision models and at the same time meet our goal of empowering small businesses that generate social impact, we needed to digitize our processes. So, we are happy to be working with Provenir, an industry-leading technology company that works on solutions for leading fintech and global financial institutions.”

“We are very excited to have Creci as our first Colombian client using Provenir’s innovative platform, it will help manage not only their real-time risk decision processes, but also ensure an openness to technology and a speedy market entry. Creci is a unique institution in its market, as it is 100% dedicated to financing projects with social impact. And, I am sure that the growth of innovative companies in Latin America, such as Creci, offers a huge opportunity for Provenir and our region,” said Gaston Peralta, Director of Business Development for Latin America.

Provenir offers a unique and innovative product to help small fintech companies control their credit risk and in turn powers the growth of SME and individual lending in Latin America. In addition, Provenir supports other financial institutions, such as banks and neo-banks, to manage their risk exposure using solutions that allows them to quickly and easily implement their own strategies and risk models. Which means, that businesses can focus on powering growth and providing a better experience for their users. “Provenir makes the same advanced and innovative technology used by leading global financial institutions available to our region” added Gaston Peralta.

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