AI-Powered Capabilities Improve Accuracy and Efficiency to Accelerate Automobile Lending
BURNABY, BC, September 20, 2022 – Inovatec Systems, a major provider of industry-leading, cloud-based software solutions for lenders, announced it has entered into a partnership with Provenir, a global leader in AI-powered risk decisioning software. As a result, Inovatec’s roster of automobile lenders can access Provenir’s proven portfolio of AI-driven decisioning solutions through open APIs that are embedded into Inovatec’s market-leading LOS platform.
Headquartered in Parsippany, New Jersey, Provenir is a global provider of smart decisioning solutions that enable lenders, finance companies and other financial institutions to lower risk and make faster, more accurate decisions on credit applications. The company’s Provenir AI-Powered Decisioning Platform is a no-code cloud-based solution that serves a multitude of markets, including BNPL, retail point-of-sale, fintech, banking, as well as automobile lending.
“Inovatec’s configurable loan origination and loan management solutions efficiently support third party solutions that improve the speed, reliability and efficiency of the entire lending process,” said Bob Metodiev, head of business development at Inovatec. “We are very happy to make Provenir’s decisioning solutions available to our customers and deliver these robust benefits. This integration continues our effort to ensure that the lenders we serve have access to the most impactful services available in the market.”
Inovatec’s LOS, LMS and Consumer Direct technology allows lenders to streamline loan processing, decisioning, and management with intelligent automation that can be configured to meet lender needs. The company’s offerings enable lenders to leverage a range of innovative services through open APIs, giving lenders the power to adjust workflows and utilize advanced features like analytics and alternative data to make accurate decisions, grow their portfolios and build marketshare.
“We are excited to partner with market leader Inovatec to help lenders provide an excellent consumer experience while meeting consumers demand for real-time decisions,” said Kathy Stares, executive vice president, North America for Provenir. “Through the unique combination of universal access to data, simplified AI and world-class decisioning technology, Provenir provides a cohesive risk ecosystem that enables organizations to make smarter decisions instantly across the entire customer lifecycle. Combined with Inovatec’s industry-leading solutions, lenders will be empowered to make smart, automated decisions while providing the best possible experience to their customers, thus gaining a competitive advantage.”
For information on Inovatec’s integrated loan origination system, loan management system, and customer portal solution, visit www.inovatec.com.
