Find the Right Technology to Overcome Credit Risk Challenges

Credit Risk Technology to Power Your Risk Strategy

As a financial services organization you know how quickly the industry is evolving. Digitization has created a huge opportunity to revolutionize your products and develop industry-leading consumer experiences, but it’s also fueled many new challenges. To effectively deploy your credit risk strategy, drive business growth, and maintain agility, you need technology that puts your risk team in control. Whatever goal you’re pursuing or challenge you need to overcome, the Provenir Platform will help you digitize your credit risk strategy, respond to new threats, and jump on developing opportunities.

The right technology to achieve your credit risk decisioning goals:

When it comes to making smart credit decisions while providing a world-class consumer experience your technology should help you achieve these four goals:

Deploy Credit Risk Models in Real Time

Your risk strategy relies on having sophisticated data models in place to quickly and effectively manage decision risk. But, deploying models quickly is a challenge, with delays often pushing deployment times into weeks, months, or never at all. If your goal is to deploy data models in real time, you need technology that supports simplified rapid deployment. For many, this means using a model agnostic platform like Provenir. Why? Because this eliminates the recoding rework that slows down deployment.

With Provenir’s technology your team can import models in R, Python, and many other languages, reducing reliance on development resources and giving your business-users more control over the process. The Platform makes field mapping easy with automated field extraction and a low-code drag and drop interface. Provenir also supports in-Platform testing, with results displayed visually, simplifying error diagnosis and making deploying models into production quick and easy.

Our model-deployment article takes a more in-depth look at data model deployment with the Provenir Platform.

Easily Integrate Tools and Data Sources

Data is the key to making smart decisions, without access to the right data at the right time your business can’t accurately assess risk. In today’s digital world new data sources develop daily, giving your team the opportunity to explore new risk decisioning options. To do this, you need to be able to integrate with any data source in hours or days rather than weeks or months. But, many financial services organizations struggle to create integrations or update existing connections in a timeframe that supports digital innovation.

The Provenir Platform provides an integration wizard that eliminates the need for hardcoded integrations, which means no vendor reliance and no waiting for your dev team to complete integrations. Instead, bring in all of the data you need to power your credit risk strategy with Provenir’s low-code wizard.

To learn more about how Provenir simplifies connection to both internal and external data sources head over to our data integration tool page.

Make Instant Credit Decisions

If you can’t provide customers with instant credit decisions, your competitors will! Today’s consumers expect instant everything, even when it comes to their financial services. But, powering instant approvals requires sophisticated technology that can process applications in real time without increasing risk. The Provenir Platform provides immense processing power to push applications from submission through compliance checks and credit risk analysis to approval in milliseconds. With Provenir, you can take control of decisioning and automate processes to provide the real time consumer experience that drives business growth.

Dig deeper into Provenir’s real time decisioning technology here.

Reduce Decision Risk

One of the key aspects of any credit risk strategy is to reduce decision risk. But, to drive business growth you need technology that allows you to manage risk without decreasing approval rates. To do this you need a solution that combines key decisioning components to help you test, deploy, and update risk strategies in real time. You need technology that empowers increased agility, combats risk, and lets you explore new opportunities.

The Provenir Platform is designed to provide the tools you need to reduce credit risk: use Provenir’s data integration wizard to access and use the data you need to reduce decision risk, upload risk models with Provenir’s model agnostic platform, power automated decisions with Provenir’s powerful processing technology.

To see how Provenir’s technology combines powerful integration and import tools with a sophisticated decisioning engine to put you in control of your risk strategy, head over to our reduce credit risk page.

Choose purpose-built technology to power your credit risk processes in:

Different industries bring different challenges. We’ve broken down our content into six areas to help you find relevant information more quickly!

SME Lending

Decisioning SME loan applications is notoriously difficult and approving SME Loans in a customer friendly timeframe creates a number of challenges for your business.

But digitization has given innovative lenders like you the opportunity to create user experiences that make customers happy and help drive business growth. With automated application processing you can reduce or remove the manual processing that causes approval delays and prevents customers getting funding exactly when they need it. Instead you can use technology to push applications through comprehensive compliance, decisioning, and pricing processes that control credit risk without sacrificing the consumer experience.

To take control of risk and get to know your customers better you need technology that supports extensive data checks in real time. Explore our SME lending article to learn more about building world-class SME lending experiences.

Auto Financing

When the difference between someone driving a car off the lot or driving over to your competitor’s is financing, the pressure to provide instant decisions is immense. To help your dealers close more sales and provide the buying experience your consumers expect, you need financing that’s powered by fast and reliable technology.

When it’s no longer ok for dealers to require customers to complete pages and pages of paperwork or wait days for approvals it’s time to implement digital processing. With the right technology in place you can create a simple user experience that’s underpinned by sophisticated decisioning. In other words, you can develop a process that requires less of the consumer and lowers risk!

To learn more about building auto loan experiences that drive more sales head over to our Auto Lending technology page.


As a Fintech you’re developing products and services that drive disruption in the financial services industry. You’re known for your innovative products, your industry-leading customer service, and developing technology that pushes the industry forward.

To do these things it’s often necessary to get to market quickly with an innovative idea. After all, if you don’t get there first somebody else will. This often means launching a product backed by minimum viable technology, which in many cases wasn’t designed to support rapid growth and evolution.

To maintain your disruptive and innovative nature you need technology that’s as agile and flexible as you are, like it was built just for you! So, why would a fintech ever choose to use partner technology? Because with a robust platform providing the foundation for decisioning your team are free to focus on the technology that makes you unique and gives you a competitive edge.

Jump over to our fintech page to see some of the ways our fintech clients use Provenir to power their innovation and agility.

Merchant Onboarding

Onboarding merchants should be a quick and easy process, but compliance rules and regulations, growing fraud, and increased risk from digital transactions often cause delays of hours or even days. To create a digital experience fit for a digital marketplace without sacrificing your credit risk strategy you need to combine your onboarding processes into one cohesive experience.

To dive deeper into how your business can use technology to create a digital merchant onboarding experience, including KYC and risk decisioning, head over to our merchant onboarding page. We take a closer look how you can connect the building blocks of onboarding into one system that lets you onboard merchants in minutes.

Retail or Point of Sale Financing

Cart abandonment, whether it’s digital or in-store, can cost a business thousands, if not millions, in lost sales per year. To combat these potential losses, innovative payments firms have found new ways to remove the friction points that prevent consumers from completing sales—one click financing and buy now pay later products.

To power these friction free payment options, financial services providers need technology that lets them quickly assess credit risk without making the consumer do the work or wait for approval.

We’ve created an article exploring the essential components you need to control credit risk and lower cart/purchase abandonment rates here.

Banking & Lending

The banking and lending industry has undergone rapid change since fintech startups first digitized products and services. And now, with consumers demanding a better digital experience for all of their financial services the pressure is on for banks and lenders to step up their game.

In a highly regulated industry financial services organizations face the struggle of balancing credit risk and compliance with product innovation. Which means, forward-thinking businesses like yours are often looking for technology that helps them digitize services and manage risk. But that’s only a small part of what they and you need to succeed in a rapidly evolving and increasingly competitive market.

Our banking and lending page looks into the technology you need to build an agile, flexible, and future-proof banking and lending platform.

Choosing the right credit risk decisioning engine and data science technology:

Credit risk technology isn’t one size fits all, and honestly Provenir won’t be the right fit for everyone. So, we’ve put together two articles that compare Provenir to the most common alternatives financial services organizations explore:

In-House Vs. Purchased Solution

Many financial services organizations often look to build their technology in-house, after all when you build your software you have total control over the finished product. So, why would you ever consider choosing partner technology instead?

The simple answer is that the business cost of an internal build can often outweigh the benefits. We take a deeper look into how Provenir compares to internal builds here.

Provenir Vs. Loan Origination Software

While traditional loan origination systems have worked and still do provide great functionality for financial services organizations, many businesses find that they don’t provide the flexibility they need to implement their credit risk strategy.

Our Provenir vs. LOS article compares key functionality differences between the two options including, end-to-end functionality, vendor reliance, agility, data integrations, and risk model deployment capabilities.


Talk with a Provenir Expert

Contact Us