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Being told she wouldn’t be promoted because “senior positions are for men” incentivized Mei Ye, Head of Pre-Sales (APAC) at Provenir, to change careers. Mei shares her journey and perspective on the importance of mentors and mistakes.
What is a decision engine and how does it help your business processes?
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Decisional platform will be applied in the financial services provider’s credit granting, analysis and reanalysis processes
São Paulo, March 14, 2023: Provenir, a global leader in AI-powered data and risk decisioning software for fintechs, announced today that Jeitto, a fintech with a digital credit solution for classes C, D and E, has chosen the company’s data and artificial intelligence decisioning platform to optimize its credit operations.
Founded in 2014 and with more than 4 million registered customers and about R$570 million granted, the Brazilian credit app has adopted Provenir’s scalable cloud-native solution to support its data-driven decision management in its credit granting, analysis and reanalysis processes. Among other benefits, the platform enables customized credit decisions for each different trading partner (BNPL) and easier integration.
“Since 2022, we have been making a series of improvements to our platform, seeking to offer our clients an even better experience. The selection of Provenir is part of this process and will give us even more agility in the management and adjustment of credit strategies, which is one of our main assets with our customer base,” says Fernando Silva, CEO and co-founder of Jeitto.
The main objective of selecting Provenir is to increase Jeitto’s capacity to grant credit and control risk factors to its operation and greater agility to deal with changes in the profile of the target market.
Through the Jeitto application, in addition to access to credit, customers manage their daily finances, including payment for utilities, transportation, and cell phone recharges.
Jeitto is an important partner for people in their first experience with banking and financial services. The company aims to expand access to healthy credit to increase the financial strength of families, boost trade, empower the population, and promote more opportunities to access a wider range of financial services.
“We are very pleased to partner with Jeitto to serve an important contingent of Brazilian consumers in an intelligent and innovative way,” says Jose Luis Vargas, Executive Vice President for Latin America at Provenir.
“Our platform will offer Jeitto agility in managing and adapting to existing credit strategies, besides facilitating the creation of customized strategies and allowing personalized credit decisions through the powerful level of security offered by Provenir,” concludes Vargas.
Provenir’s industry-leading AI-powered and data and decisioning platform empowers fintechs and financial services organizations to unlock the true value of data by combining on-demand access to data with simplified AI and automated real-time decisions. With more accessible and usable data and AI, financial institutions can automate complex decisions that drive excellent customer experiences, addressing identity, credit, and fraud for faster integration and maintenance.
What is a decision engine and how does it help your business processes?
NEWS
In response to UK Chancellor of the Exchequer, Jeremy Hunt, unveiling his 2023 spring budget, which in part, aims to make the UK a “science and technology superpower,” The Fintech Times reached out to industry experts for their thoughts on his actions to encourage greater investment and innovation in the technology sector.
David Mirfield, Director of Product Management for Provenir AI, shared his perspective and predictions on the Finance Minister’s announced investment in quantum computing to support the UK’s AI ecosystem.
What is a decision engine and how does it help your business processes?
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The partnership will empower SMEs in Philippines with digitalised and innovative SME lending processes
Singapore — 13 March 2023, Provenir, a global leader in data and AI-powered risk decisioning software for fintechs and financial services providers, is proud to announce a strategic partnership with Investree Philippines, the country’s first crowdfunding intermediary and funding platform. This partnership will allow Investree to integrate Provenir’s data, decisioning and AI capabilities to provide accessible and inclusive financing to small and medium enterprises (SMEs).
Globally, the business-to-business (B2B) SME segment is fast-growing, but many SMEs still face several hurdles when it comes to receiving credit. This trend is particularly concerning in developing markets such as the Philippines where SMEs comprise 99.6% of total business establishments in the market and employ 65% of the workforce.
Provenir’s platform provides Investree Philippines with the capability to access, evaluate, and process a wide range of data sources to create accurate risk models, improving the quality of risk assessments and decisioning for financing applicants. Through the Provenir Marketplace, users can integrate with multiple data sources, such as credit bureaus, fraud detection providers, and social media activity through a single API to provide a comprehensive view of the applicant’s creditworthiness and financial standing.
Investree Philippines’ innovative crowdfunding model utilises this data and technology to connect SMEs with institutional investors, providing access to financing that may not be available through traditional funding sources. Its success has been recognised with a permanent license from the Securities and Exchange Commission (SEC), as well as partnerships with leading organizations like the Asian Institute of Management (AIM) and the Philippine SME Business Expo (PhilSME).
“We recognise the need to accelerate post-pandemic recovery and promote recession resiliency through efficient risk grading of financing applicants,” said Kok Chuan Lim, Co-founder and CEO of Investree Philippines. “With the integration of Provenir’s platform, Investree Philippines can provide SMEs with a streamlined and more reliable risk decisioning process, enabling them to receive financing faster and more efficiently. The partnership with Provenir is a significant milestone for Investree Philippines as we seek to expand our presence in the country with initiatives that aim to empower SMEs. The company remains committed to promoting financial inclusion, providing innovative financing solutions, and fostering partnerships that support the growth of local enterprises.”
“Investree Philippines is playing a significant role in empowering SMEs with a more accessible lending experience,” said Bharath Vellore, General Manager, APAC for Provenir. “We share this goal and will provide the real-time, on-demand data access, embedded AI and world-class decisioning technology they need to quickly evaluate risk and provide the critical financing SMEs need to grow and succeed.”
What is a decision engine and how does it help your business processes?
NEWS
How can lenders improve the speed and accuracy of loan approvals for SMBs? AI predictive analytics, machine learning and the use of alternative data are key to making improvements in many areas of SMB lending but there are many considerations SMB lenders need to ponder to ensure they are truly positioning themselves on the path to progress.
In this BAI article, John Pesavento, Vice President of Technology for Reliant Funding, shares his observations on approaches and questions lenders should really explore to determine how AI, machine learning and the right data can help them improve predictability at each inflection point across the entire funnel—from an early sales lead to application approval based on submission characteristics.
What is a decision engine and how does it help your business processes?
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CIOL recently interviewed Varun Bhalla, Provenir’s Country Manager for India. Varun shared his views on Provenir’s key offerings and unique value, his entrepreneurial journey, the company’s growth, and much more.
What is a decision engine and how does it help your business processes?
NEWS
Economic uncertainty has a noticeable impact on the way financial institutions make decisions and offer products and services to their customers. While consumers may pull back on discretionary spending, on the flipside, they also require more access to credit – which financial institutions may be reluctant to give, due to more conservative risk appetites.
In this Fintech.ca article, Cheryl Woodburn, Country Manager of Canada for Provenir, shares advice on how alternative data and innovative decisioning ecosystems can help financial institutions gain more accurate insights to support their clients.
What is a decision engine and how does it help your business processes?
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With Provenir, AMU Leasing will be able to disburse loans to its end users with speed, accuracy and precision
New Delhi, India – Provenir, a global leader in AI-powered risk decisioning software, announced today that AMU Leasing, India’s leading and only woman-led, tech-driven NBFC startup exclusively serving the Electric Vehicle ecosystem. With this partnership, the Delhi-based company will be able to make faster decisions and offers to end-users, putting it ahead of its competition.
AMU Leasing’s goal is to support India’s emerging initiatives for self-employment and micro entrepreneurship for citizens across Tier 2 and 3 cities. By supporting the alternate fuel-based transportation sector, they plan to propel and sustain revenue generation for self-employed livelihoods.
The government of India is targeting EV sales to account for 30 percent of private cars, 70 percent of commercial vehicles, 40 percent of buses and 80 percent of two and three-wheelers by 2030 to help reduce carbon emissions. The combination of AMU Leasing and Provenir is ideal for new as well as existing customers seeking EV financing solutions with seamless processing and a world-class user experience.
“We are focused on helping develop an efficient ecosystem where leasing, financing and purchasing electric vehicles is one seamless process,” said Nehal Gupta, CEO of AMU Leasing. “We needed an automated decisioning solution that would enable us to make faster decisions and extend offers to end users. Provenir’s low code interface empowers our business users to easily design, build and test decisioning models themselves. The Provenir Marketplace also provides access and easy integration to new data sources, providing us with greater insights to make more accurate decisions.”
“The EV market is quickly growing and AMU Leasing is well positioned to support the entire value chain, particularly entrepreneurial businesses,” said Varun Bhalla, Country Manager, India for Provenir. “Our AI-Powered Data and Decisioning Platform provides the access to data, AI and decisioning capabilities needed to accelerate and improve their lending decisions and expand with them. We look forward to helping them meet their goal of one million EV disbursements by 2027.”
Provenir’s industry-leading AI-Powered Data and Decisioning Platform delivers smarter risk decisioning. The solution, managed through a single UI, empowers organizations to innovate further and faster than ever before, driving the continuous optimization they need to power growth and agility, without increasing risk.
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What is a decision engine and how does it help your business processes?
NEWS
The company adds new customers around the globe and grows its employee count as it continues expansion in key markets worldwide
Parsippany, NJ — February 14, 2023 — Provenir, a global leader in data and AI-powered risk decisioning software, today announced strong growth in 2022, achieving 35 percent growth in revenue and expanding its customer base by 24 percent, adding new customers worldwide including AMU Leasing, AutoChek, Davivienda, DeltaPay, Investree, Provu, Quick Finans, Topi and Varo.
Provenir also grew its global workforce, appointing industry veterans in senior sales and leadership roles to support the company’s continued growth in key markets, including Latin America, Africa, Middle East, Europe, Canada, and India, with expansion into France, Germany, Italy, Spain, Turkey, the Balkans and Benelux; Colombia, Brazil and Mexico; and Indonesia, the Philippines and Vietnam.
Provenir also established a new global technology and operations hub in India to meet the growing demand from fintechs and financial services providers for the company’s industry-leading AI-powered data and risk decisioning software for real-time credit decisioning. The hub serves as a centralized location for Provenir global technical teams to develop new solutions to solve customers’ most significant challenges.
“I’m incredibly proud of Provenir and our talented global workforce as we celebrate a year of exciting milestones and continued growth,” said Larry Smith, Founder and CEO of Provenir. “Our results, despite uncertain economic conditions globally, underscore the fact that fintechs and financial services providers need a flexible platform that can provide deep insights instantly. Those organizations that can leverage additional data sources and use AI to test and deploy new strategies quickly will be able to better serve their customers, detect fraud, and capture new market share.”
Additional key highlights / milestones in 2022:
Provenir was also recognized as a finalist in the following awards programs: Tearsheet Data Awards 2022, US Fintech Awards, Fintech Futures Banking Tech Awards, and Credit Strategy Lending Awards.
What is a decision engine and how does it help your business processes?
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The certification reaffirms Provenir’s commitment to the highest standard of data security and management
Parsippany, NJ — Feb. 01, 2023 — Provenir, a global leader in data and AI-powered risk decisioning software, today announced it has achieved ISO/IEC 27001 accredited certification for its information security management systems. ISO/IEC 27001 is a globally recognized information security standard which requires compliance across all aspects of information security and operations.
The ISO/IEC 27001 certification provides evidence to a company’s consumers, investors, and other interested parties that the organization is managing information security according to international best practices. The approach helps organizations manage information security by addressing people, processes, and technology.
“ISO 27001 certification is the gold standard for information security, and it reinforces our commitment to safeguard and protect both customer and company data,” said Claire Hartley, Group Data Protection and Compliance Officer, Provenir. “This certification asserts that Provenir is compliant with the highest standard of information security and data protection requirements our customers expect.”
Provenir’s industry-leading AI-Powered Decisioning Platform empowers fintechs and financial services organizations to unlock the true value of data, combining on-demand access to data with simplified AI and automated, real-time decisioning. With data and AI more accessible and usable than before, financial institutions can automate complex decisions that drive world-class customer experiences, addressing identity, credit and fraud for quicker onboarding and servicing.
