NEWS

The appointment reflects Provenir’s commitment to growth and the development of innovative industry solutions

Parsippany, NJ – Sept. 5, 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announced the appointment of Andres Elizondo as its new Chief Financial Officer. Elizondo brings a wealth of experience which combines both finance and strategy, with a focus on driving and delivering long-term business value.

With more than 15 years of experience, Elizondo has a proven track record in creating and leading the finance functions of global technology companies as well as private equity-backed firms. Previously, Elizondo was the Group CFO at software development platform Builder.ai and served as CFO of the EMEA region at Rackspace Technology and was part of the leadership team that took the company public. In these roles, he implemented strategies that drove growth and delivered exceptional shareholder value.

“Provenir’s mission is to help fintechs and financial services providers around the globe make smarter risk decisions and disrupt the increasingly competitive financial technology landscape,” said Larry Smith, Founder and CEO of Provenir. “Andres brings a unique blend of technical knowledge and financial expertise. I am confident the addition of Andres to our leadership team will help support Provenir’s expansion and market leadership goals.”

“I’m very excited to join Provenir and be part of the company’s growth,” said Elizondo. “Provenir has been at the forefront of developing industry-leading risk decisioning and data analytics solutions to meet the rising need for high-quality financial services. I’m looking forward to championing Provenir’s growth plans and delivering even more value for our customers.”

Elizondo received a bachelor’s degree in Mechatronics Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey in Mexico. He completed his master’s degree in Business Administration at London Business School as well as The Wharton School at University of Pennsylvania. Currently based in London, Elizondo will work with Provenir’s global finance team in New Jersey, the United Kingdom, and India.

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

NEWS

The company’s London team grew by 138% in the last 12 months as Provenir sees strong demand for its AI-powered risk decisioning software in the British market.

London, UK – 08 August 2023 – Provenir, a global leader in AI-powered risk decisioning software, today announces the relocation of its London office to a larger facility at 76 Charlotte St. Fitzrovia W1T 4QS to accommodate its expanding team. Over the past 12 months, Provenir has experienced a remarkable 138% growth in its London team, owing to the continuous acquisition of new customers in the UK and throughout Europe.

Provenir saw strong growth in 2022 globally, achieving 35% growth in revenue and expanding its customer base by 24%, adding new customers worldwide, including AMU Leasing, AutoChek, Davivienda, DeltaPay, Investree, Provu, Quick Finans, Topi and Varo. The company also expanded into France, Germany, Italy, Spain, Turkey, the Balkans and Benelux; Colombia, Brazil and Mexico; and Indonesia, the Philippines and Vietnam to meet customer demand.

“We have seen a real surge in demand for our credit risk decisioning solutions in recent years,” said Frode Berg, Managing Director of Europe at Provenir. “In times of uncertainty such as these, where consumers face a heightened need for credit and financial institutions adopt a more cautious lending approach, advanced AI-powered decisioning tools play a crucial role in navigating uncertainties and facilitating informed lending decisions. As I reflect on our exciting milestones and sustained growth in the UK, I am incredibly proud of our exceptionally talented workforce. The relocation of our office will allow us to accommodate our growing team and better support our rapidly growing customer base.”

An £83.5 billion opportunity

The UK has one of the strongest AI markets in the world, behind only the United States and China, with significant government funding and research activity in the field. Earlier this year, the British government pledged £1 billion of government funding for the next generation of supercomputing and AI research to establish the UK as a science and technology superpower.

Already, 15.1% of all British businesses have adopted at least one AI technology, with the adoption rate expected to increase to 22.7% by 2025 and 34.8% by 2040, according to the UK government. Expenditure on AI technologies is expected to increase from £16.7 billion in 2020 to £83.5 billion in 2040 at a compound annual growth rate of 8.4%, presenting Provenir with an immense growth opportunity as a leading provider in the market.

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