NEWS
Dear Excel BI tools,
Despite what I’m about to say, I genuinely love everything about you, from conditional formatting to pivot tables, to Power View. You have so many great features.
But… I think we should see other people.
Read the full article on Capterra’s Business Intelligence Blog
What is a decision engine and how does it help your business processes?
NEWS
A Norway-based digital bank is using a machine-learning platform to allow for immediate decisions on loan eligibility.
Provenir, the platform Instabank uses, is deployed by banks and finance companies around the world, some of which have incorporated social media data in determining loan eligibility criteria.
Read the full article on Tearsheet.com
What is a decision engine and how does it help your business processes?
NEWS
We are pleased to announce that Chris Barber has been named Provenir’s Director of Professional Services, EMEA. Chris has been with Provenir for 3 years, during which Provenir has seen electrifying growth in the EMEA region. His new role will support department expansion due to the increased volume of new client on-boarding.
Chris Barber is Director of Professional Services covering the EMEA region at Provenir. Previously, he was a Senior Project Manager with Provenir and before this spent his career in investment banking and asset management. Chris worked for Morgan Stanley for 8 years as a business analyst partnering with the equity sales and trading businesses. He then worked at Schroder Investment Management as a business analyst on a strategic re-platforming implementation. Later, he spent nearly 8 years at JPMorgan within Global Investment Banking Technology as a business analyst, project manager and programme manager covering the equity, bond and syndicated loan origination capital markets, mergers & acquisitions as well as corporate banking and commercial banking businesses.
What is a decision engine and how does it help your business processes?
NEWS
Magnus Silfverberg, CEO of Dun & Bradstreet, talks strategy in this inspiring one-on-one interview with Provenir’s Adi Bachar-Reske.
Becoming the most wanted data and analytics firm across an entire continent is not an easy feat. Read the full interview to learn Magnus Silfverberg’s approach and his vision for the future of data and analytics in Europe.
What is a decision engine and how does it help your business processes?
NEWS
New Provenir Adapter adds Machine Learning to the risk analytics and decisioning toolkit for faster credit and risk decisions
New Jersey, US – 20 March 2017 – Provenir, provider of risk analytics and decisioning solutions, today unveiled the new Provenir Adapter for Amazon Machine Learning for financial institutions seeking to add machine learning to their toolkit without the time and resources typically associated with development. The latest in Provenir’s suite of adapters automatically feeds the predictive score returned by the Amazon Machine Learning model into the risk decisioning process. The Provenir Platform then automates that process, instantly executing a pass, fail or refer result from a risk score.
Provenir Adapter Makes Machine Learning More Accessible to Lenders
“While Machine Learning has massive implications in financial services, few organisations are able to dedicate full time resources to the development of homegrown machine learning capabilities” said Larry Smith, CEO and Founder, Provenir. “The Provenir Adapter for Amazon Machine Learning makes machine learning accessible to those companies who are focused on their core businesses by eliminating the need for a dedicated expert.”
Inexperienced Developer Deploys ML Model in Less Than 20 Minutes
Smith shared an example. “With no experience in machine learning, one developer on our team was able to build and deploy a machine learning model in less than 20 minutes, operationalizing that model in the Provenir Platform in just hours. Historically, that would have taken a team of people a month to achieve.”
Visually Configurable, Real-Time, Risk Analytics
To meet customer expectations of speed, efficiency and cost, financial service providers need risk management solutions that are visual and intuitive, don’t require coding expertise or development skills to update, and are flexible enough to adapt in changing situations. This integration pairs Provenir’s visually configurable risk platform with Amazon Machine Learning for real-time, user-friendly, risk analytics and decisioning.
About Provenir
Provenir makes risk analytics faster and simpler for financial institutions. The Provenir risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. Helping clients process more applications with greater efficiency and increase sales conversions with instant, real-time risk decisioning, Provenir serves clients across a broad range of financial verticals including consumer, cards, payments, ecommerce and auto financing. Provenir is headquartered in Parsippany, New Jersey with EMEA operations based in England and APAC operations in Singapore. For more information please visit www.provenir.com.
What is a decision engine and how does it help your business processes?
NEWS
Dun & Bradstreet, pioneering Smart Data to enable customers to make smart decisions, announces a partnership with Provenir, a provider of global real-time, risk decisioning solutions. The collaboration paves the way for innovative, real-time risk decisioning services for European businesses.
In search of growth and cost efficiency, companies in Europe seek solutions to optimize their credit risk processes. Agile solutions that can respond quickly to rapid and on-going business and regulatory changes are vital. Dun & Bradstreet has a long history in delivering decision-making platforms to help businesses automate processes and make data-driven decisions. The partnership with Provenir empowers the next generation of solutions, using the Provenir Risk Analytics and Decisioning Platform.
“We are committed to providing the best information management, data analytics and risk solutions to our clients,” said Anders Borg, Chief Strategy Officer of Dun & Bradstreet. Borg continues, “The Dun & Bradstreet partnership with Provenir is a strategic initiative which will enable us to build more flexible, scalable and integrated solutions. This will provide business users the ability to create, change and implement data sources, business rules and risk models within minutes. It is the latest example of how we at Dun & Bradstreet are committed to providing an improved customer experience with automated risk decisioning.”
Provenir helps companies implement innovative business processes which improve customer experience and accelerate time to market. The Provenir solution simplifies the collection and enrichment of structured and unstructured data, enabling data and risk analytics to be performed in real-time.
“We’re very excited to partner with Dun & Bradstreet and support their plans for automated risk decisions and analytics within their portfolio of client offerings,” said Paul Thomas, Managing Director, Provenir. “Provenir’s risk decisioning platform is model, data and technology agnostic, making it highly flexible for Dun & Bradstreet’s purposes. We’re looking forward to working together to deliver great solutions to Dun & Bradstreet’s customer base.”
Provenir makes risk analytics faster and simpler for financial institutions. Our Provenir risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. We help clients process more applications with greater efficiency and increase sales conversions with instant, real-time risk decisioning, serving clients across a broad range of financial verticals including consumer, commercial, cards, payments, ecommerce and auto financing. Provenir is headquartered in Parsippany, New Jersey with UK operations in London and Leeds.
Dun & Bradstreet is a leading European Data & Analytics company. We help companies to find and manage their customers throughout the customer lifecycle. We do that by pioneering Smart Data to enable our customers to make Smart Decisions. We employ 2,400 people in 18 countries and are headquartered in Stockholm, Sweden.
What is a decision engine and how does it help your business processes?
NEWS
ort-term lender chooses Provenir’s Risk Decisioning Platform as a scalable solution to speed up loan decisions
London, UK – January 21, 2016—Provenir, the risk analytics and decisioning solutions provider, today announces that fintech lender Oakam has chosen its platform to help it deliver rapid, accurate loan decisions to personal customers.
London-based Oakam provides financial services for people who find it difficult to borrow from banks, offering a straightforward, simple loan application and approval process. It is expanding its customer service offering with an increased online presence and a free mobile app, which gives customers greater control over managing their loan. Customers can also apply by phone or through one of its 22 UK retail stores across London and the Midlands.
To equip the business to handle growth and to improve efficiency, allowing their advisors to focus more time making personal loan decisions and lending assessments on non clearcut customers, Oakam sought a scalable risk analytics and decisioning platform. The Provenir platform – selected by other well-known financial institutions including Resurs Bank and Klarna – provides connections to multiple data sources for data enrichment and will help Oakam return improved and enhanced loan decisions.
“With Provenir’s industry experience and expertise we will have the right technology to make better decisions faster,”. “Provenir will help us meet high demand for our services and deliver a great experience for our customers through its digital solution that will scale as we grow. It will free up staff time to focus on serving customers and give us in-depth management information to help us evolve our business as a responsible lender.”
Frederic Nze, founder and CEO
Oakam will use the cloud-based Provenir platform to speed up loan decisions through a single, digital solution that interfaces with all required data sources, simplifying and managing the credit decision process.
Oakam will benefit from agile, user-friendly configuration tools, allowing it to update processes and credit decision rules as needs evolve. The solution will give Oakam the scope to grow and develop the capabilities of its business processes over time.
“We’re delighted to be working with Oakam, helping them deliver great customer service. Our expertise is in delivering digital solutions to streamline, automate and speed up credit and lending decisions while reducing risk and complying with regulations. With the recent launch of their mobile app Oakam have exciting digital plans and we’re looking forward to helping them achieve their aims.”
Managing Director, Provenir.
Oakam is on a mission to make financials services work better for billions of people around the world.
Oakams’ customers are the ‘under-banked’. They are excluded from the mainstream system of financial services used by many to easily access credit, due to low incomes or poor or no credit history in the UK. Since 2007, via a network of high-street stores and a virtual store, Oakam have provided affordable credit based on a deep understanding of customers personal circumstances — not just their credit score. Oakam are now building on this success by expanding services digitally across the UK and overseas.
Above all, Oakam’s focus is always on building trusted relationships, by serving customers respectfully and often in their own language. Oakam’s 290 staff speak more than 27 languages and even more dialects. Our relentless focus on customer service is the reason why the vast majority of our customers come via word-of-mouth referral.
What is a decision engine and how does it help your business processes?
NEWS
TBI Bank Chooses the Provenir Cloud for Real-time Credit Decisions
Digital process transformation and automation at the bank supports aggressive growth
London, UK – 3 January 2017 – Provenir, provider of real-time, risk decisioning solutions, today announced that TBI Bank, which serves consumers and businesses in Bulgaria and Romania, has chosen The Provenir Cloud for rapid risk decision-making and streamlined processing of customer applications.
Provider of consumer financing solutions, credit cards and small business lending, TBI Bank is one of the fastest growing banks in its market. Through its 65 offices and online banking services it serves over one million customers. The Bank is part of the 4Finance Group, one of Europe’s largest and fastest growing online and consumer mobile lending groups known for deploying data-driven analysis in its businesses.
The Provenir Cloud will provide TBI Bank with an efficient risk analytics and decisioning solution for faster, consistent credit and loan decisions. Provenir’s ability to integrate easily with any structured and unstructured data sources in minutes will help TBI Bank make risk decisions in seconds. TBI Bank has ambitious growth plans and at the same time will support 4Finance in a number of markets over the next 12 to 18 months. It will use The Provenir Cloud and the scalability, cost-efficiency and real-time updates it offers, as a key enabler for this growth.
“We pride ourselves on delivering a high-quality service to our customers with swift credit decisions and efficient loan application processing. The Provenir solution will help us make decisions in seconds, improve our customer experience and grow our business,” said Petr Baron, CEO of TBI.
“In the competitive market we operate in we embrace the role data-driven analytics plays in rapid credit decision-making. The technology we deploy helps us evolve our products and services and our customers’ experience. The Provenir solution will provide efficient integration to our data sources, facilitating excellent loan processing capabilities. Of particular importance to us is ease of integration and Provenir excels in this area.”
With a history of innovative product development, TBI Bank has an ongoing program of automation and digitization supporting its impressive growth. The scalable Provenir Cloud will help deliver this strategy.
“We’re delighted TBI Bank chose Provenir as they continue delivering their transformation objectives in support of their customer-centric strategy,” said Paul Thomas, Managing Director, Provenir. “Accuracy, compliance and the real-time deployment of analytics into the decisioning process all contribute to delivering a great experience for the consumer. TBI Bank recognizes the role technology plays in achieving this and we look forward to helping them achieve their goals.”
TBI Bank is a fully licensed Bulgarian bank operating in the Bulgarian and Romanian markets as part of the 4Finance Group. The bank is specialist in Retail and SME Banking.
4Finance is one of the largest and fastest growing groups in online and mobile lending for consumers. The company operates in Argentina, Armenia, Bulgaria, Georgia, Denmark, Spain, Latvia, Lithuania, Mexico, Poland, Romania, the USA, Finland, Czech Republic, Sweden, Dominican Republic, and Slovakia.
What is a decision engine and how does it help your business processes?
NEWS
Integrated solution to be available at Money 20/20
ATLANTA (Oct. 18, 2016) – In advance of Money 20/20, the financial industry’s largest tradeshow, FactorTrust, The Alternative Credit Bureau, announces the integration of its database with risk analytics and decision solutions provider Provenir. The integration provides Provenir’s clients with exposure to a greater pool of creditworthy borrowers.
“Combining FactorTrust’s ability to accurately mine and score underbanked consumers with Provenir’s automated end-to-end risk analytics and decisioning platform provides lenders with an even quicker and more accurate and robust lending solution,” states Greg Rable, CEO of FactorTrust.
FactorTrust’s real-time database of more than 200 million loan transactions provides lenders with a holistic view of underbanked consumers’ creditworthiness and ability to repay loans. Though all lenders, including banks, benefit from FactorTrust’s data, it is especially valuable in the consumer lending, auto and rent-to-own industries.
“Our clients are frequently looking for reliable and accurate data sources as an alternative to traditional bureau, which integrate into the lending process simply,” says Paul Thomas, Provenir’s global head of sales and marketing. “By developing a relationship with FactorTrust, we’re providing a value-add for our clients which not only cuts down on the time associated with underwriting, but is also cost-efficient to implement.”
For more information on FactorTrust, please visit www.FactorTrust.com or contact FactorTrust at 1-866-910-8497.
About FactorTrust
FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. Nearly 113 million U.S. adults have non-prime scores. Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for nearly 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.
About Provenir
Provenir makes risk analytics faster and simpler for financial institutions. Our Provenir risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. We help clients process more applications with greater efficiency and increase sales conversions with instant, real-time risk decisioning, serving clients across a broad range of financial verticals including consumer, commercial, cards, payments, ecommerce and auto financing. Provenir is headquartered in Parsippany, New Jersey with UK operations in London and Leeds. For more information please visit www.provenir.com.
What is a decision engine and how does it help your business processes?
NEWS
Intelligent Risk Analytics and Decisioning Solution provides scalability to high growth company
New York, NY – September 13, 2016 – Provenir, provider of risk analytics and decisioning solutions, today announces that rent-to-own industry leader Rent-A-Center, Inc. has adopted Provenir’s hosted solution, Provenir Cloud, to support the processing of customer applications for lease purchase agreements in connection with its AcceptanceNow line of business.
“Provenir’s risk analytics and decisioning platform’s scalability and rich functionality provide significant value to Rent-A-Center’s growth plans and transformation,” said Mark Denman, EVP of AcceptanceNow at Rent-A-Center. “By implementing Provenir Cloud to process customer lease applications, we will increase speed, improve delivery and provide our customers better, faster access to our products and services.”
The Provenir solution will sit in the heart of RAC’s processing workflow, acting as an orchestrating hub and connecting internal and external data with various rules and risk models.
“Provenir is committed to providing Rent-A-Center with a flexible, secure and scalable environment that ensures simplified maintenance for the users so that they can continue to deliver value to their customers while pursuing their growth strategy,” said Paul Thomas, Managing Director at Provenir.
About Provenir
Provenir makes risk analytics faster and simpler for financial institutions. Our Provenir risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. We help clients process more applications with greater efficiency and increase sales conversions with instant, real-time risk decisioning, serving clients across a broad range of financial verticals including consumer, commercial, cards, payments, ecommerce and auto financing. Provenir is headquartered in Parsippany, New Jersey with UK operations in London and Leeds. For more information please visit www.provenir.com.
About Rent-A-Center, Inc.
A rent-to-own industry leader, Plano, TX-based, Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, and smartphones, under flexible rental purchase agreements with no long-term obligation. The Company owns and operates approximately 2,600 stores in the United States, Mexico, Canada and Puerto Rico, and approximately 1,915 Acceptance Now locations in the United States and Puerto Rico. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 225 rent-to-own stores operating under the trade names of “Rent-A-Center,” “ColorTyme,” and “RimTyme.” For additional information about the Company, please visit our website at www.rentacenter.com.
What is a decision engine and how does it help your business processes?
