tbi bank is a mobile-first challenger bank in South East Europe and regional leader in alternative payment solutions, building an ecosystem by combining financing and shopping to address customers’ needs. It focuses on helping merchants to grow their business as well as providing consumers with financial products and services that make their lives easier. Through various digital channels and trusted partnerships with nearly 20,000 merchant locations, tbi has a customer base of 2 million clients and issued nearly 550,000 loans in 2022. Its business model and customer-focused approach resulted in becoming one of the most profitable and efficient banks in the region. The challenge was to source a cutting-edge risk decision engine to fuel their growth and customer-centric strategy.

The bank has partnered with Provenir since 2017 to automate the credit assessment process so lending decisions are made quickly and more efficiently. tbi selected Provenir for its ease of use, ability to easily integrate with existing systems and compliance with relevant regulations and industry standards such as GDPR to ensure the protection of customer data. 

Provenir’s consulting experts helped identify tbi’s unique needs, assisting with data integration and configuration, providing user training and conducting testing and validation to ensure the solution functions optimally. By providing faster and more accurate lending decisions, tbi is providing customers with the best experience while reducing risk. The bank differentiates itself in the market by offering the speed and convenience consumers require.

With automated decisioning processes and the ability to quickly implement changes via Provenir’s low code platform, tbi bank can offer clients credit decisions in real time at scale, processing more than 7 million applications annually with no downtime – for a 1,400% capacity improvement. The bank can also tailor lending products and terms to meet the specific needs of customers.

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BBVA is a leader in digital banking. As part of an ambitious and unrivalled digital transformation project, BBVA wanted to create a clear brand experience across their global footprint. To deliver on this goal, BBVA needed to deploy processes that supported a standardized experience around the world. A key principle of the bank’s digital plan is to offer the best possible customer experience through repeatable, customer-focused processes delivered on a global scale. To do this, BBVA wanted flexible, scalable technology, that provides the independence and control to deploy consistent processes across thousands of branches. Considered within this framework, BBVA wanted an enhanced risk decisioning solution for their commercial and SME business lines. 

BBVA implemented Provenir as the risk decisioning engine powering its SME and commercial business lines. Why? Because Provenir had the proven flexibility, scalability, and robust architecture needed to support BBVA’s global digital transformation plans. One of the deciding factors was the platform’s microservices capabilities, which enables the bank to design software once and deploy it worldwide. Provenir’s flexibility empowers BBVA to create standardized decisioning processes that can automatically adjust to the variations required for each location, individual customer, and type of customer. BBVA is using Provenir to power its client analysis— including rating and limit setting—and underwriting. Implementation has been completed in BBVA’s largest markets, Spain, Turkey and Mexico, and there are future plans to implement an EWS (Early Warning System).

“With Provenir, we can deliver a best practice experience in every branch through automated processes that capture the rules and decisions made by our most skilled representatives,” says Lorenzo Blesa Sánchez, Head of Risk & Finance Engineering. The Provenir platform is also used to analyze the risk level for the customer and the customer’s type of business. The result is automation of data collection for the decisioning process. “Provenir lets us quickly tailor the data we need for the particular situation, and having the flexibility to implement models in different formats is a key advantage of the platform. Autonomy is also very important to us – after the initial training from Provenir, we have been able to carry out developments independently and with little need for support. ” says Lorenzo. BBVA believes that Provenir is a key component for meeting its goal to deliver outstanding service consistently. “Many of our commercial customers are multi-nationals who interact with multiple BBVA branches around the world. With a global risk decisioning platform, we can leverage the information collected in one location to serve the company in other parts of the world, simplifying their interactions and offering them a high-quality, consistent process. Provenir has helped us improve our customers’ perceptions and experiences with BBVA.”

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Following Covid and an ever-changing U.S. political landscape, many student loan holders were uncertain about their future and the student loan debt they were carrying. SoFi wanted to help as many qualified customers as possible by providing the opportunity to refinance at rates that are/were at historic lows, while making sure they were fully informed about all options available to them depending on the types of loans they held.

The goal of the project was to leverage the most advanced low code/no code technology and agile processes to increase SoFi’s approval rate and refinance as many loans as possible. It was critical that the team meet an August 1 deadline to ensure it could be rolled out nationwide before the school term started.

SoFi benchmarked the project alongside its previous DevOps effort with its in-school college loan application. As a result of building out new automation and leveraging low code/no code technology enabled processes via the Provenir Decisioning platform, SoFi was able to complete the project and go live in a shorter timeframe (within 10 weeks) with a small but efficient development team (representing a reduction in development resources of 44 percent) and at a cost that was over 57 percent less than the cost of development of similar application platforms.

SoFi’s student loan refinance platform enables consumers to apply in minutes with a more than a 25 percent improvement in underwriting speed.

Additionally, a key benefit was streamlining the regulatory process. SoFi has a requirement to file for approval in all 50 states every time a policy changes and ensure compliance with 50 sets of rules and requirements governing terms and conditions such as minimums, interest rates and age restrictions, etc. By using the Provenir platform to design agile regulatory processes, SoFi has been able to adapt very quickly to policy updates and implement needed changes very quickly, for best-practice compliance and governance.

One key area for cost and time savings was in application testing. With the new student loan refinancing platform, much of the testing was automated so that thousands of testing scripts/transactions could be tested with the click of a button. SoFi also found they were able to rationalize the number of test scenarios and parameters to approximate real-world scenarios. This allowed the team to run 90 percent fewer test scenarios – from 4.5 million to 500,000 – and still deliver the same quality of product with zero defects.

The resulting DevOps efficiencies are enabling SoFi to reallocate the newfound developer resources to focus on other SoFi tech initiatives. Moreover, the new next-gen DevOps approach is empowering the SoFi development team with a new mindset as to what can be accomplished via automation.

The team has “broken free” of this instance of technical debt, by working to build out and improve the development infrastructure while building out the product. As a result, SoFi has now disseminated these learnings throughout the organization to help spread these low code/no code agile best practices to the wider application development team to adopt this new way of thinking and driving improved application development efficiencies across the organization.

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