NEWS

AI-powered risk decisioning provider realizes a 190+ percent increase in new customers and a 55 percent SaaS revenue increase, amid continued global expansion

Parsippany, NJ — Feb. 2, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced record growth in 2021, achieving a 194 percent increase in new customers and a 55 percent increase in Software-as-a-Service revenue year over year.

Provenir also continued its global expansion in response to increased demand for its products and services. In 2021, the company moved into new markets, including Germany, Austria, Switzerland (DACH), Turkey, the Middle East, the Balkans, and Africa, and expanded its presence in Latin America and Asia, bringing the total number of countries served to nearly 50.

As a result of this growth, the company increased its global workforce by 49 percent last year.

This growth sets the stage for Provenir to gain additional traction in key global regions and in the growing Buy Now Pay Later (BNPL) and challenger bank sectors, which need technology that provides access to alternative data for smarter decisioning and faster client onboarding.

“We are extremely proud of our record-breaking performance in 2021, and we see no signs of this momentum slowing down in 2022,” said Larry Smith, Founder and CEO of Provenir. “We are witnessing significant expansion in the types of businesses seeking our real-time decisioning solution across all geographies. Our unified solution brings together the three essential components of risk decisioning – data, AI and decisioning – into one single decisioning platform to help organizations provide the real-time decisioning customers demand today.”

Additional key company milestones achieved in 2021 include:

• Introduced product innovations such as Cloud 2.0 and Provenir AI, which continue to simplify data access, make AI accessible and automate decisioning.  
• Invested 25 percent of revenue in research and development to continue developing industry-defining solutions, including extending AI capabilities.
• Welcomed more than 60 new partners to the Provenir Marketplace, a comprehensive fintech data and intelligence ecosystem providing access to more than 530 country/data/partner combinations through a single Application Programming Interface (API).
• Expanded the use of Provenir for financial inclusion with customers in all regions.
• Among other accolades received, Provenir was recognized as the “Best Credit Risk Solution” in the Credit & Collections Technology Awards, qualified as a finalist in Credit Strategy’s Credit Awards in the “Best Technology Provider” category and was named to the Inc. 5000 Fastest Growing Private Companies in America.

Provenir customers include leaders and challengers in the fintech and financial service sectors such as Zilch, AskIf, Kueski, Koko, Reliant Funding and Rent-A-Center that are gaining a decisive advantage

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Appointment underscores company’s growing presence in the region.

Parsippany, NJ —Jan. 11, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced Waldemar Faltenberg has been appointed Senior Sales Executive, DACH, following the company’s rapid growth in 2021 and increased demand for its products and services in the region. Faltenberg will manage sales operations for Austria, Germany and Switzerland as Provenir continues to expand its presence worldwide.

Faltenberg brings more than 15 years’ experience in financial servicesto his new role. Prior to joining Provenir, he served in senior sales management and consulting positions at BFS finance GMBH, VR Smart Finanz AG, VR Leasing AG and Coface, developing marketing strategies, building and expanding partnerships and guiding clients through digitalization projects to modernize their online channels. 

“Waldemar has a wealth of experience in the German banking market and in credit risk decisioning specifically,” said Frode Berg, Managing Director EMEA. “An increasing number of organizations in EMEA are selecting Provenir as their risk decisioning partner. Waldemar will spearhead our efforts to engage with fintech innovators and innovative banks seeking access to industry-leading AI-powered risk decisioning software for real-time credit decisioning.”

“I am excited to join Provenir at this pivotal time as demand for solutions enabling real-time processes is surging to meet customers’ desire for instant decisions,” said Waldemar. “The market for financial services solutions in DACH is growing rapidly, and I look forward to continuing to build upon Provenir’s momentum in the region.”

Provenir’s AI-powered risk decisioning software is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience, users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

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

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Hamilton brings experience in delivering value to customers through creation of innovative technology solutions

PARSIPPANY, NJ–Dec. 14, 2021 – Provenir, a global leader in AI-powered risk decisioning software, has appointed Carol Hamilton as the new Senior Vice President, Global Solutions, to accelerate the company’s business strategy and growth plan. In her new role, Hamilton will be responsible for leading and extending Provenir’s solutions including credit, fraud and identity and expanding Provenir’s market-leading cloud data offering, the Provenir Marketplace, to help customers tackle real business challenges and make smarter, faster decisions.

Hamilton brings rich experience in developing fraud, compliance and security solutions for the financial services industry. Prior to joining Provenir, Hamilton held senior leadership roles at GBG, SAS and BAE Systems leading regional teams responsible for creating long-term strategy, driving growth, and seeking new areas for expansion.

“We are thrilled to have Carol join our leadership team,” said Larry Smith, CEO and Founder. “Her wealth of experience in creating solutions that address specific challenges within the financial services industry will be integral to expanding our offerings to help fintechs and financial services organizations drive innovation and efficiency.”

“I’m delighted to join Provenir at such an exciting time,” Hamilton said. “The entire landscape of finance is changing, driven by the need for flexible solutions that can respond in real-time to ever changing consumer expectations, regulations and fraud. I look forward to working with the team at Provenir to help organizations build their processes and systems to provide the best experience for their customers.”

Connect with Carol on LinkedIn

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

NEWS

The Credit Awards celebrate innovation and best practices in the UK credit and financial services industry

Parsippany, NJ, Nov. 5, 2021 – Provenir, a global leader in data analytics software and risk decisioning, today announced it has been named finalist for the 2021 Credit Strategy Credit Awards in the “Best Technology Provider” category.

The Credit Awards are recognized as the gold standard within UK risk, credit and collections markets, honoring the individuals, teams and organizations that make up a vital part of the UK financial services sector.

Winners will be unveiled at the Credit Awards ceremony on Dec. 14 at the Grosvenor House Hotel in London.

“Provenir is honored to be named a finalist in the best technology category for this very prestigious awards competition that recognizes the stellar achievements of companies supporting the UK financial services market,” said Frode Berg, Managing Director, EMEA for Provenir. “With Provenir, financial institutions can improve their credit decisioning by leveraging more data in less time, reducing costs, and improving agility through better use of internal expertise and reduced reliance on outside IT support.” Provenir’s flagship product, Provenir AI-Powered Risk Decisioning Platform, is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience offering four cloud products — decisioning, data, insights and solutions —users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

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

NEWS

Company wins the “Credit Risk Solution” category for its Provenir AI-Powered Risk Decisioning Platform product that improves risk modeling

Parsippany, NJ, Nov. 5, 2021 – Provenir, a global leader in data analytics software and risk decisioning, today announced that it has been named a 2021 Credit & Collections Technology Awards winner in the “Credit Risk Solution” category.

The Credit & Collections Technology Awards highlight the success of companies and individuals across 21 categories who garnered technological achievements in the UK credit and collections sector in 2021. Winners were recognized during an awards ceremony that took place Nov. 4 at the Midland Hotel in Manchester, United Kingdom.

Provenir was selected from five other vendors that had been named finalists in the “Credit Risk Solution” category.

“This is a wonderful achievement for Provenir and a testament to the hard work of our employees who continue to usher in innovative technology advancements to revolutionize credit risk-decisioning,” said Frode Berg, Managing Director, EMEA for Provenir. “I would like to thank the esteemed panel of industry experts who served as the award judges for recognizing Provenir as the UK’s leading credit risk solution provider.”

Provenir’s flagship product, Provenir AI-Powered Risk Decisioning Platform, is the industry’s first, true risk-decisioning ecosystem. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience offering four cloud products — decisioning, data, insights and solutions —users can create the platform-as-a-service (Paas) cloud solution that best fits their business needs.

About Provenir

Provenir helps fintechs, financial institutions, and payment providers make smarter decisions faster by simplifying the risk decisioning process. Its no-code, cloud-native SaaS products form a risk decision engine for real-time approvals and make it easy to rapidly create sophisticated decisioning workflows. With a global data marketplace for seamless integration, powerful AI and machine learning models, and real-time insights, Provenir has supercharged decisioning speed. Provenir works with disruptive financial services organizations in more than 40 countries and processes more than 2 billion transactions annually.

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

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Award recognizes women that have demonstrated admirable leadership across a variety of roles within the software industry.

Parsippany, NJ, Oct. 27, 2021– Provenir, a global leader in data analytics software and risk decisioning, today announced that Kathy Stares, executive vice president, North America, has been named one of the “Top 50 Women Leaders in SaaS” by The Software Report, a comprehensive source for market research and insights, business news, investment activity and corporate actions related to the software sector.

Awardees are recognized for their performance within their roles, their ability to foster innovation and growth, and their expertise in software-as-a-solution (SaaS) solutions.

Stares leads sales, customer success, pre-sales consulting teams across North America for Provenir, and also oversees strategic partnerships. As a member of Provenir’s executive team, she has played a key role in supporting the company’s growth, increasing its SaaS solutions revenue 25 percent year-over-year. The company has experienced a 22 percent increase in Provenir’s customer base of fintech disruptors, and its increasing presence in the Buy Now, Pay Later (BNPL) and challenger bank markets.

“I am deeply honored to be included among this esteemed group of female leaders who are spearheading innovation in the SaaS market and driving the industry forward,” said Stares. “I am passionate about enabling our customers to be change agents, and to raise the bar in terms of the customer experience they deliver. We continue to invest significantly in our SaaS technologies to help our customers expedite the risk-decisioning process, which in turn, allows them to provide real-time decisions and respond to their end customers immediately.”

Provenir’s technology enables fintechs, financial institutions, and payment providers to easily design, build, and deploy solutions to solve complex business challenges such as digital onboarding, retail financing, Buy Now Pay later (BNPL) approvals, SME lending, insurance, credit card management, eCommerce, eWallet, digital banking, and open banking. 

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