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Provenir Named a Gold Winner for AI Platforms in Juniper Research’s Future Digital Awards – Fintech & Payments

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Provenir Named a Gold Winner
for AI Platforms in Juniper Research’s Future Digital Awards – Fintech & Payments

Company’s AI-Powered Decisioning Platform recognized in the “AI Platform” category

Parsippany, NJ — Oct. 11, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced that its AI-Powered Decisioning Platform has been named a gold winner in the “AI Platform” category in Juniper Research’s Future Digital Awards – Fintech & Payments.

The Fintech & Payments awards program honors the very best technologies across the fintech, payments, fraud and security, banking and blockchain sectors. Since 2008, the Juniper Research Future Digital Awards have been awarded to technology companies at the forefront of their respective fields: companies that deliver imaginative, innovative products or services that have the potential to disrupt their ecosystems and provide significant benefits to their target audience. 

Provenir’s industry-leading AI-Powered Decisioning Platform empowers fintechs and financial services organizations to unlock the true value of data, combining universal data access with simplified AI and automated, real-time decisioning. With data and AI more accessible and usable than before, financial institutions can automate complex decisions that drive world class customer experiences, addressing identify, credit and fraud for quicker onboarding and serving.

According to a recent study, AI-enabled risk decisioning is seen as key to usher in improvements in many areas, including fraud prevention (78%), automating decisions across the credit lifecycle (58%), improving cost savings and efficiency (57%), more competitive pricing (51%) and improving accuracy of credit risk profiles (47%). The study also revealed that 55% percent of respondents who plan to invest in an automated credit risk decisioning system consider AI to be one of the most important features.

“Provenir is honored to be named a gold winner for AI Platforms in Juniper Research’s Future Digital Awards and to be among a prestigious group of innovative technology award winners advancing the fintech and payments sector,” said Kathy Stares, Executive Vice President Americas at Provenir. “Provenir’s AI-Powered Decisioning Platform delivers a comprehensive real-time view of decisioning performance, easy access to third-party and historical data, as well as automated and auto-optimized AI, enabling organizations to deliver intelligent decisioning needed to grow their business.”

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BNPL Could Reach 670 Million Users by 2028: Will Any Firms Still be Around to Prosper?

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BNPL Could Reach 670 Million Users by 2028:
Will Any Firms Still be Around to Prosper?

As more Buy Now Pay Later providers pull back on their offerings, the Fintech Times is looking at what the future of the industry holds. There could be over 600 million users by 2028, but what is needed for the industry to survive that long? In this article, Provenir’s Executive Vice President of North America, Kathy Stares, shares her insights on how advanced risk decisioning technology may be just the ticket.

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Moving the Needle: Top 10 Trends Driving the Financial Services Landscape in 2024

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Moving the Needle:
Top 10 Trends Driving the Financial Services Landscape in 2024

What are the trends impacting the financial services industry this year? In this article from Global Banking & Finance Review, EVP of North America for Provenir, Kathy Stares, shares her expert insights on everything from evolving lending practices to new competition, and changing fraud risks and compliance needs. 

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Provenir Wins Third Consecutive Data Breakthrough Award

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Provenir Wins Third Consecutive Data Breakthrough Award

Prestigious International Awards Program Recognizes Outstanding Data Technology Products and Companies

Provenir Honored as Data Solution of the Year for Finance

LONDON – April 11, 2024 – Provenir, a global leader in AI-powered risk decisioning software, today announced it has been selected as winner of the “Data Solution of the Year for Finance” award in the annual Data Breakthrough Awards program conducted by Data Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global data technology market today. Provenir has been named the winner of the Data Solution of the Year category for the third year in a row. 

Provenir Data is a fintech data ecosystem purpose built to simplify and advance the data supply chain for financial services providers. With its single API, fully managed pre-built integrations to more than 120 local and global data partners, and business user-friendly interface, Provenir Data makes taking control of an organization’s data strategy fast and simple. 

Financial services providers also benefit from a curated range of richer data sources and insights solutions across identity, fraud, and credit. Curated data means faster access to the right data and data insights at both a regional and global level. With local data sources across multiple countries, organizations can easily duplicate and iterate their data strategy as they expand into new regions.

“Provenir Data provides organizations offering financial products to their customers the ability to verify identity quicker, detect fraud earlier, and make more accurate credit decisions by providing the right data at the right time,” said Larry Smith, CEO of Provenir. “We are honored to be named ‘Data Solution of the Year for Finance’ for the third consecutive year as it is a great testament to our continued innovation in the financial services market.” 

“Provenir Data represents a breakthrough fintech data ecosystem that is built to simplify and advance the data supply chain for financial services providers,” said Steve Johansson, Managing Director, Data Breakthrough. “Provenir is enabling organizations to verify identity quicker, detect fraud earlier, and make more accurate credit decisions in everything from SME lending to auto financing and beyond. We are pleased to award Provenir our 2024 ‘Data Solution of the Year for Finance’ designation as Provenir Data makes taking control of an organization’s data strategy fast and simple so that organizations have the data they and their customers need.”

The annual Data Breakthrough Awards is the premier awards program founded to recognize the data technology innovators, leaders and visionaries from around the world in a range of categories, including DataOps, Data Analytics, AI, Business Intelligence, Data Privacy, Data Storage and many more. The 2024 Data Breakthrough Awards program attracted thousands of nominations from across the globe.

About Provenir

Provenir helps banks, fintechs and financial services providers unlock the secret to smarter credit risk decisioning.

Provenir’s AI-powered platform brings together the power of decisioning, data, and case management to drive intelligent decisions. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

Provenir works with disruptive financial services organizations in more than 50 countries and processes more than 4 billion transactions annually.

About Data Breakthrough

Part of the Tech Breakthrough organization, a leading global provider of market intelligence and recognition platforms for technology innovation and leadership, the Data Breakthrough Awards program is devoted to honoring innovation and market disruption in data technologies, services, companies and products. The global Data Breakthrough Awards program provides a forum for public recognition around the achievements of data companies and solutions in categories including data analytics, management, infrastructure and hardware, storage, Business Intelligence and more. For more information visit DataBreakthroughAwards.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

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What Should We Expect to See From Embedded Finance in 2024?

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What Should We Expect
to See From Embedded Finance in 2024?

Embedded finance, the integration of financial services into non-financial products and services, is a hot topic in the industry – and The Fintech Times is highlighting the latest trends, challenges, and opportunities that embedded finance has to offer. In this article, Provenir’s Executive Vice President of North America, Kathy Stares, shares her thoughts on how embedded finance is poised to improve financial inclusion, making financial services far more accessible for all. 

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Provenir Appoints Kris Emerton-Jones as Sales Director, APAC

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Provenir Appoints Kris Emerton-Jones as Sales Director, APAC

The appointment demonstrates Provenir’s ongoing commitment to providing AI-powered risk decisioning solutions to the region

SINGAPORE – Mar. 27, 2024 – Provenir, the global leader in AI-powered risk decisioning software, today announces the appointment of Kris Emerton-Jones as its new Sales Director for APAC. In this role, Emerton-Jones will oversee all sales operations and business development activities for the region. 

Based in Provenir’s Singapore office, Emerton-Jones is responsible for expanding the company’s customer base across the region and serving the growing number of financial services providers seeking to drive business transformation through the use of intelligent decisioning technology.  

Emerton-Jones brings more than 20 years B2B enterprise sales experience within the technology/software industry, and more than nine years in senior management leading teams across APAC focused on financial services. Prior to joining Provenir, he held senior positions at FIS, Experian, CredoLab Singapore and Fitch Singapore. 

“Consumers increasingly expect instant, personalized decisions and product offers,” said Bharath Vellore, General Manager, Provenir APAC. “This customer imperative is driving demand for our flexible, scalable platform that provides financial services providers with easy access to data, deep insights and the agility to quickly respond to changing economic conditions. Kris brings extensive expertise in credit risk decisioning solutions having consulted with hundreds of organizations throughout his career. His industry knowledge and experience in developing high performing teams will help us engage with the growing number of organizations seeking our AI-driven risk decisioning platform.” 

“Provenir has a very unique value proposition focused on empowering organizations to react quickly to changing market conditions and easily scale to support growth,” said Emerton-Jones. “I am excited to be part of this innovative team and look forward to helping organizations in the region deliver exceptional customer experiences while managing risk.”

About Provenir

Provenir helps fintechs and financial services providers unlock the secret to smarter credit risk decisioning. 

Provenir’s AI-powered platform brings together the power of decisioning, data, and case management to drive intelligent decisions. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more. 

Provenir works with disruptive financial services organizations in more than 50 countries and processes more than 4 billion transactions annually.

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Provenir Announces Successful Completion of SOC 2 Type II Assessment for Information Security Practices

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Provenir Announces Successful Completion
of SOC 2 Type II Assessment for Information Security Practices

Parsippany, NJ — March 25, 2024 — Provenir, a global leader in data and AI-powered risk decisioning software, today announced the successful completed of its latest Service Organizational Control (SOC) 2 Type II assessment.

Developed by the American Institute of CPAs (AICPA), SOC 2 defines criteria for managing customer data based on security, availability, processing integrity, confidentiality, and privacy. The Type II audit reviews a vendor’s systems and if its design meets these relevant trust principles.

The audit affirms that Provenir’s information security practices, policies, procedures, and operations meet rigorous SOC 2 standards for security, availability, and confidentiality. This independent validation attests to the strict internal controls Provenir has in place to protect users’ data in a highly regulated industry.

“Successfully completing our latest SOC 2 Type II assessment along with our continued certification to ISO/IEC 27001, reinforces Provenir’s commitment to information security,” said James Green, Compliance Manager, Provenir. “Our dedication and investment in information security and compliance demonstrates to our customers that the protection of their data is our highest priority.”

Provenir makes accessing data fast and easy. Through a single API, Provenir’s AI-Powered Risk Decisioning platform brings together a curated range of data and data solutions to enable businesses to make smarter decisions across identity, fraud and credit. This allows users to experience simplified data access, fully managed integrations providing access to a wide variety of traditional and alternative data, and insights to make smarter decisions across the whole customer lifecycle.

About Provenir

Provenir helps banks, fintechs and financial services providers unlock the secret to smarter credit risk decisioning.

Provenir’s AI-powered platform brings together the power of decisioning, data, and case management to drive intelligent decisions. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

Provenir works with disruptive financial services organizations in more than 50 countries and processes more than 4 billion transactions annually.

Media Contact:

Kelly Poffenberger

Lutz Public Relations and Marketing (for Provenir)

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The EU AI Act: Comments From David Mirfield, VP Of Product Management, Provenir

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The EU AI Act:
Comments From David Mirfield,  VP Of Product Management, Provenir

The European Parliament has finalised a provisional agreement on groundbreaking artificial intelligence regulations paving the way for the world’s first legislation on AI, pending a vote by the legislative assembly in April.

Known as the AI Act, these new regulations aim to establish boundaries for a technology widely used across various industries, including banking, automotive, electronics, aviation, as well as for security and law enforcement purposes. Our own David Mirfield,  VP of Product Management, shared his perspective on the impact the Act will have and the challenges organizations will still face.

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Provenir AI Shrinks the Cost, Complexity and Time-to-Market for Smarter Financial Services Risk Decisioning

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Provenir AI Shrinks the Cost, Complexity and Time-to-Market for Smarter Financial Services Risk Decisioning

Provenir adds AI horsepower to its decisioning platform to access,
analyze, and action data with greater accuracy

FINOVATE EUROPE 2022— March 22, 2022 — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today introduced Provenir AI, giving financial institutions the power of artificial intelligence (AI) for better and faster risk decisioning while eliminating barriers to entry via a no-code approach.

While AI offers the opportunity to radically improve risk decisioning, many struggle with time-to-value of AI initiatives. A recent survey by Provenir shows only 21% of financial services organizations begin to see a return on investment from AI initiatives within 120 days.

Provenir shrinks the cost, complexity, resource requirements and time-to-market of AI with models tailored and trained for risk decisioning across the customer lifecycle, including the orchestration of fraud prevention and financial inclusion.  

The solution solves many of the industry’s AI challenges:

  • Software-as-a-Service model reduces the cost of entry with zero upfront development costs.
  • Purpose-built models and data sets curated for specific risk decisioning use cases enable 60-to-90-day implementations for greater time-to-value.
  • Full AI explainability provides transparency around the “why” and “how” decisions are made.
  • Live model retraining eliminates downtime, supporting continuous improvement for greater decision accuracy.
  • Machine learning models orchestrate fraud prevention and financial inclusion across the customer lifecycle.

Additionally, Provenir AI is enhanced through the Provenir Marketplace to mitigate model bias with data diversity. With access to more than 535 country/data/partner combinations through a single API, the Provenir Marketplace provides pre-configured access to the required data and intelligence for holistic risk decisions.

Among the organizations looking at employing data-driven, AI approaches for competitive advantage is SoFi, the digital personal finance company. A key guiding principle of the company is to iterate, learn, and innovate by embracing data-driven decisions. “AI and machine learning are part of the modern toolset that financial services organizations need to build and fine-tune predictive models to deliver high levels of responsiveness and the best customer experience,” said Adam Colclasure, Senior Director, Risk Infrastructure for SoFi.

“Provenir AI propels faster innovation by supporting a lending strategy that delivers the best returns in customer satisfaction and revenues through deeper insights, continuous optimization and smarter, more accurate risk decisioning,” said Carol Hamilton, Senior Vice President, Global Solutions for Provenir. “AI finds relationships in your data that traditional decisioning cannot, empowering financial institutions to optimize their portfolio, support greater personalization in product offerings for improved competitive advantage, and elevate fraud prevention and financial inclusion.”

Provenir AI: A Key Element in Provenir’s Unified Platform for Data, AI and Decisioning

Provenir AI is a key element in Provenir’s approach to data fueled and AI driven smarter risk decisioning. Provenir is integrating powerful AI decisioning to the core of financial services processing by enabling universal data access – the quintessential fuel for data modelling – and the means to easily operationalize decisioning results.

This empowers newfound agility with up-to-the-minute risk assessment at speed and scale. Fintechs choose this platform to accelerate the launch of products such as Buy Now Pay Later (BNPL), small and mid-size enterprise lending, automotive financing, and more.

Through the unique combination of universal access to data, simplified AI and world-class decisioning technology, Provenir AI provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle – with diverse data for deeper insights, auto-optimized decisions, and a continuous feedback loop for constant improvement.

With a unified platform for data ingestion and integration, AI predictive modelling and decisioning, Provenir eliminates siloed approaches and model governance headaches.

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Industry Comment: What Does the EU’s AI Act Mean for its Development?

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Industry Comment:
What Does the EU’s AI Act Mean for its Development?

The European Union (EU) passed landmark artificial intelligence (AI) legislation setting the tone for future regulations across the Western world. The law makes the EU the second major bloc after China to legislate for mitigating the impacts of AI’s rapid development.

The law, when passed, will require “high-risk” AIs (including generative AI products like Open AI’s ChatGPT and Dall.E and Google‘s Gemini) to pass tests over bias, accuracy and transparency, as well as impose a myriad of regulations for smaller and less sensitive AIs.

The Verdict tapped industry experts, including our own David Mirfield, Vice President of Product Management, for their perspectives on the implications of the legislation on the future of AI development.

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