NEWS

The motorcycle financing company selected Provenir to power its growth and expansion

MIAMI, FL (MAY 25, 2022) – Provenir, a global leader in AI-powered risk decisioning software, announced today that Flexiplan, the El Salvador-based motorcycle financing company, has implemented Provenir to meet all its credit needs, including real-time loan approval, process automation and easy API integration.

With more efficient decisioning processes, Flexiplan can manage risk more effectively, giving it the agility to respond quickly to customers through its digital platform and point of sale while driving business growth. With the real-time insights delivered by the Provenir platform, Flexiplan expects to approve up to 60 loans in the time it would have previously taken to approve one.

Flexiplan helps motorcycle dealers increase sales while providing valued customers for bank partners. The company is built upon the belief that flexible credit enabled by modern technology is a powerful tool to promote commerce and a better quality of life for consumers. Flexiplan needed a flexible platform that delivered more agile and effective credit risk management and decisioning to grow and scale its business as it plans to expand to multiple countries in Central America and the Caribbean.

Tito Gutiérrez, CEO of Flexiplan emphasized, “Provenir is very versatile as it allows us to seamlessly adapt our business behavior to what the market requires, and we are considering the use of alternative data in the future to further improve the approval process.”

“It has been a pleasure to contribute to Flexiplan’s digitalization journey and continued growth with Provenir’s AI-powered decisioning solutions, allowing for loan approvals in milliseconds, said Jose Vargas, Executive Vice President, LATAM, for Provenir. “The niche segment of motorcycles has experienced regional growth over the past few months, and Flexiplan is well-positioned to take advantage of it and make waves in El Salvador and beyond. Provenir’s flexible platform, which can be seamlessly adapted to various markets, can easily enable Flexiplan to expand its business.”

NEWS

Provenir enters exploding fintech market in Brazil

Parsippany, NJ, May 18, 2022 – Provenir, a global leader in AI-powered risk management software for fintechs, today announced its first customer in Brazil: Provu, a fintech specializing in payment and personal credit, based in São Paulo.

Provu is a pioneer in the Buy Now Pay After (BNPL) solution in Brazil, with which merchants offer customers a form of payment in installments without a credit card and receive the value of the purchase in cash.  The process is done in a completely digital way, from a brief credit analysis of the potential buyer.

This Brazilian fintech, which also operates in online personal lending, was looking for a native cloud decision platform to boost and scale its offerings as it grows, giving its credit team independence to make changes, as well as allowing them to launch new products quickly and connect with new data providers without difficulty.

“One of the pillars to revolutionize the credit market is a quick customer decision response time,” said Renato Mesquita, Provu’s Director of Risk (CRO).  “In this sense, the partnership with Provenir is strategic. With the technology and robustness of Provenir’s credit decision engine, already adopted by major international references, we will be able to automate our credit intelligence without overloading internal resources, ensuring answers and analysis of more complete and efficient credits,” adds Renato.

“We are excited to partner with Provu, a pioneering and innovative company, which will help bring new digital financial offerings to the Brazilian population,” said Jose Luis Vargas, Executive Vice President for Latin America at Provenir. “We are seeing unprecedented demand from startups, fintechs and neobanks across the country for real-time credit decisions. Provu has understood that our risk decision-making platform with artificial intelligence will allow them to optimize the customer experience throughout its lifecycle. Provenir is expanding its investments in Brazil to meet this demand more quickly and accurately.”

Provenir’s AI-based risk decision-making software is the industry’s first true risk decision ecosystem. The platform enables a comprehensive real-time view of decision performance, third-party data and history, as well as automated analytics.  Through a unified digital experience, users can create the cloud solution as platform-as-a-service (PaaS) that best meets the needs of their business.