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Mitigating Risk and Maximizing Customer Value Through Effective Case Management

NEWS

Mitigating Risk and Maximizing Customer Value Through Effective Case Management

Case management in financial services can be a key component in preventing application fraud, maximizing the value of your customers, and ensuring frictionless onboarding experiences. But what exactly is it? David Mirfield, Provenir’s Senior Vice President of Product Management, shares his insights with Financial IT, explaining why seamlessly integrating case management into your decisioning process will help you stay ahead of risk – and deliver a better experience for your customers.

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Learn more about Provenir’s end-to-end onboarding experiences with out-of-the-box case management solutions that get you to market faster.

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Fintech-Bank Relationships Can Take a Page Out of the Franchising Playbook

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Fintech-Bank Relationships Can Take a Page Out of the Franchising Playbook

Realizing the potential of Banking as a Service (BaaS) draws from an unexpected model

Banking-as-a-Service (BaaS) is a game-changer, making finance more accessible and innovative than ever before. But the success of BaaS partnerships relies on technical integration as well as fostering a collaborative relationship between sponsor banks and fintechs. So what does the franchise model have to do with BaaS? Check out the insights from Provenir’s Michael Fife in this article featured by BAI. 

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Want more info on how Provenir’s dedicated team of Principal Consultants and Professional Services experts can help you reduce tech bloat in your organization?

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Provenir Launches Onboarding Fraud Solution to Fight Back Against Fraudsters, Minimizing Losses While Safeguarding Customer Experience

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Provenir Launches Onboarding Fraud Solution to Fight Back Against Fraudsters, Minimizing Losses While Safeguarding Customer Experience

AI-powered risk decisioning platform connects fraud scores, identity checks and device validation, integrating multiple layers of fraud detection into decisioning workflows to mitigate threats at application screening, including synthetic fraud, impersonation and mule indicators

PARSIPPANY, N.J. — (BUSINESS WIRE) — As the financial services world becomes increasingly digitized and consumer demands evolve, fraudsters and their methods are becoming more sophisticated. Provenir, a global leader in AI-powered risk decisioning software, is helping organizations fight back by detecting these emerging threats via sophisticated decisioning tools and advanced analytics to increase fraud detection while minimizing friction in the customer journey.

Identity theft and synthetic identities continue to be major concerns and will account for roughly half of all financial services fraud cases by 2025. Also, in a global survey of financial services executives, 43 percent said identifying fraud is a top challenge, yet only 7 percent report their anti-fraud measures are completely effective. This emphasizes the need for powerful fraud solutions that offer flexibility, putting control in the business user’s hands.

Provenir is on a mission to help businesses navigate this increasingly complex landscape and has collaborated with best-of-breed third-party providers to bring a fraud onboarding solution to market. Provenir’s AI-Powered Decisioning Platform enables organizations to stay ahead of fraud threats, with readily available data sources that can be easily integrated into decisioning workflows, AI model creation and monitoring, to continuously optimize fraud risk models, with configurable rules to respond quickly when new threats arise.

Selecting, integrating and managing different third-party data sources for effective fraud screening is difficult. The Provenir platform integrates and manages multiple data sources or end point solutions within one platform for fraud decisioning. This extensibility and flexibility enables organizations to create custom strategies integrating the best performing third-party data as fraud risks and behaviors change and new vendors and offerings come to market.

The AI-powered risk decisioning platform connects fraud scores, identity checks and device validation, integrating multiple layers of fraud detection into decisioning workflows to mitigate threats at application screening, including synthetic fraud, impersonation and mule indicators. This also eliminates siloed environments between credit and fraud risk teams, to ensure holistic, end-to-end decisioning with a complete view of customers across the entire lifecycle.

“Fraud prevention is a crucial area of focus for today’s progressive financial institutions,” said Sophia Qureshi, Vice President of Product Management, Fraud Solutions, Provenir. “This requires an intelligent approach that reduces unnecessary (and unwelcome) friction to the customer journey. This underscores the value of having a single integrated, intelligent decisioning platform that can analyze and manage all fraud and credit risk across the customer lifecycle. This helps balance better, more accurate application fraud detection and prevention with reduced friction across the lifecycle while powering sustainable business growth.”

Provenir will host a webinar on June 27 on steps financial institutions can take to achieve accurate application fraud detection and prevention with reduced friction across the lifecycle. The webinar will outline how an integrated, intelligent decisioning platform can manage all risk and include a demonstration of Provenir’s fraud solution. To register for the webinar, please visit: https://provenir.zoom.us/webinar/register/1717187233802/WN_SZVzXT3mTnuxp-V9bsQtzw

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Provenir Wins ‘Best Technology Provider – Risk Decisioning’ in the 2024 Credit Strategy Credit Awards

Provenir Wins
‘Best Technology Provider – Risk Decisioning’
in the 2024 Credit Strategy Credit Awards

Parsippany, NJ – June 19, 2024 – Provenir, a global leader in AI-powered risk decisioning software, today announced it has been named winner of the “Best Technology Provider – Risk Decisioning” category in the 2024 Credit Strategy Credit Awards.

The Credit Strategy Credit Awards recognize and celebrate innovation, best practices, and those setting new standards in the credit and financial services industries. Winners were announced at an awards ceremony June 18 at The Celtic Manor Resort in Wales.

“This is a tremendous honor for the Provenir team, recognizing their hard work and ingenuity in redefining risk decisioning for modern financial services organizations. Our AI-Powered Decisioning platform delivers efficient automation and data orchestration that adapts to the needs of organizations, enabling them to build customer trust and reduce risk with compliant and secure processes.”

Frode Berg, General Manager, EMEA, for Provenir

Provenir’s AI-Powered Decisioning platform incorporates four intelligent decisioning solutions – credit risk onboarding, customer management, collections, and fraud & identity – across the lifecycle in a single platform. With holistic end-to-end decisioning, the platform eliminates the need to integrate multiple platforms by providing cohesive, loyalty-building experiences across the customer journey that minimize risk and maximize customer lifetime value.

See all the awards Provenir has won over the years

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Kueski Selects Provenir to Power its Aggressive Growth and Expansion Plans

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Kueski Selects Provenir
to Power its Aggressive Growth and Expansion Plans

Provenir and Kueski partner to help eliminate financial exclusion in Latin America

Mexico City — June 13, 2022 — Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced that Kueski, one of the largest buy now, pay later (BNPL) and online consumer lenders in Latin America, selected Provenir’s AI-powered Risk Decisioning Platform to fuel its aggressive growth goals for its BNPL offering, KueskiPay.

Kueski’s mission is to make the financial lives of people in Mexico easier by expanding access to traditional financial products and services to millions of underserved, underbanked consumers. This requires fresh approaches in determining a consumer’s ability to pay, such as analyzing alternative data versus traditional credit checks. So far, Kueski has disbursed more than 6 million loans, totaling nearly $1 billion in accumulated disbursed capital. Its collaboration with Provenir will help the platform to continue to grow and consolidate itself as the leading BNPL solution in the LATAM region.

“Today we are using AI, machine learning, and big data, but knew that we needed a more robust, flexible, risk decisioning platform to support our growth and product expansion plans,” said Héctor Cuesta, Director of Product Management at Kueski. “Provenir’s AI-powered Risk Decisioning Platform provides access to more diverse data which will give us deeper insights so we can make the best decision for our customers. Provenir can also be implemented quickly, enabling us to realize these benefits and achieve our business goals.”

Provenir brings together the three essential components needed – data, AI, and decisioning – into one unified risk decisioning solution to help organizations provide world-class consumer experiences. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

“Provenir and Kueski are both committed to using technology to help eliminate financial exclusion in the region,” said Jose Luis Vargas, Executive Vice President and General Manager of Provenir. “With our platform, Kueski can use champion/challenger testing strategies to deploy decisioning models optimized specifically for underserved individuals.”

This partnership will improve Kueski’s data analysis, allow for a deeper understanding of its customers, and further position Kueski as an innovative and disruptive financial services player. Provenir will support Kueski in strategic decision making, and be able to quickly identify, prioritize and execute any next steps, allowing Kueski to focus on its main mission of financial inclusion for all.

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Provenir Named a Gold Winner for AI Platforms in Juniper Research’s Future Digital Awards – Fintech & Payments

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Provenir Named a Gold Winner
for AI Platforms in Juniper Research’s Future Digital Awards – Fintech & Payments

Company’s AI-Powered Decisioning Platform recognized in the “AI Platform” category

Parsippany, NJ — Oct. 11, 2022 — Provenir, a global leader in AI-powered risk decisioning software, today announced that its AI-Powered Decisioning Platform has been named a gold winner in the “AI Platform” category in Juniper Research’s Future Digital Awards – Fintech & Payments.

The Fintech & Payments awards program honors the very best technologies across the fintech, payments, fraud and security, banking and blockchain sectors. Since 2008, the Juniper Research Future Digital Awards have been awarded to technology companies at the forefront of their respective fields: companies that deliver imaginative, innovative products or services that have the potential to disrupt their ecosystems and provide significant benefits to their target audience. 

Provenir’s industry-leading AI-Powered Decisioning Platform empowers fintechs and financial services organizations to unlock the true value of data, combining universal data access 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 identify, credit and fraud for quicker onboarding and serving.

According to a recent study, AI-enabled risk decisioning is seen as key to usher in improvements in many areas, including fraud prevention (78%), automating decisions across the credit lifecycle (58%), improving cost savings and efficiency (57%), more competitive pricing (51%) and improving accuracy of credit risk profiles (47%). The study also revealed that 55% percent of respondents who plan to invest in an automated credit risk decisioning system consider AI to be one of the most important features.

“Provenir is honored to be named a gold winner for AI Platforms in Juniper Research’s Future Digital Awards and to be among a prestigious group of innovative technology award winners advancing the fintech and payments sector,” said Kathy Stares, Executive Vice President Americas at Provenir. “Provenir’s AI-Powered Decisioning Platform delivers a comprehensive real-time view of decisioning performance, easy access to third-party and historical data, as well as automated and auto-optimized AI, enabling organizations to deliver intelligent decisioning needed to grow their business.”

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BNPL Could Reach 670 Million Users by 2028: Will Any Firms Still be Around to Prosper?

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BNPL Could Reach 670 Million Users by 2028:
Will Any Firms Still be Around to Prosper?

As more Buy Now Pay Later providers pull back on their offerings, the Fintech Times is looking at what the future of the industry holds. There could be over 600 million users by 2028, but what is needed for the industry to survive that long? In this article, Provenir’s Executive Vice President of North America, Kathy Stares, shares her insights on how advanced risk decisioning technology may be just the ticket.

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Moving the Needle: Top 10 Trends Driving the Financial Services Landscape in 2024

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Moving the Needle:
Top 10 Trends Driving the Financial Services Landscape in 2024

What are the trends impacting the financial services industry this year? In this article from Global Banking & Finance Review, EVP of North America for Provenir, Kathy Stares, shares her expert insights on everything from evolving lending practices to new competition, and changing fraud risks and compliance needs. 

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Provenir Wins Third Consecutive Data Breakthrough Award

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Provenir Wins Third Consecutive Data Breakthrough Award

Prestigious International Awards Program Recognizes Outstanding Data Technology Products and Companies

Provenir Honored as Data Solution of the Year for Finance

LONDON April 11, 2024Provenir, a global leader in AI-powered risk decisioning software, today announced it has been selected as winner of the “Data Solution of the Year for Finance” award in the annual Data Breakthrough Awards program conducted by Data Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global data technology market today. Provenir has been named the winner of the Data Solution of the Year category for the third year in a row. 

Provenir Data is a fintech data ecosystem purpose built to simplify and advance the data supply chain for financial services providers. With its single API, fully managed pre-built integrations to more than 120 local and global data partners, and business user-friendly interface, Provenir Data makes taking control of an organization’s data strategy fast and simple. 

Financial services providers also benefit from a curated range of richer data sources and insights solutions across identity, fraud, and credit. Curated data means faster access to the right data and data insights at both a regional and global level. With local data sources across multiple countries, organizations can easily duplicate and iterate their data strategy as they expand into new regions.

“Provenir Data provides organizations offering financial products to their customers the ability to verify identity quicker, detect fraud earlier, and make more accurate credit decisions by providing the right data at the right time,” said Larry Smith, CEO of Provenir. “We are honored to be named ‘Data Solution of the Year for Finance’ for the third consecutive year as it is a great testament to our continued innovation in the financial services market.” 

“Provenir Data represents a breakthrough fintech data ecosystem that is built to simplify and advance the data supply chain for financial services providers,” said Steve Johansson, Managing Director, Data Breakthrough. “Provenir is enabling organizations to verify identity quicker, detect fraud earlier, and make more accurate credit decisions in everything from SME lending to auto financing and beyond. We are pleased to award Provenir our 2024 ‘Data Solution of the Year for Finance’ designation as Provenir Data makes taking control of an organization’s data strategy fast and simple so that organizations have the data they and their customers need.”

The annual Data Breakthrough Awards is the premier awards program founded to recognize the data technology innovators, leaders and visionaries from around the world in a range of categories, including DataOps, Data Analytics, AI, Business Intelligence, Data Privacy, Data Storage and many more. The 2024 Data Breakthrough Awards program attracted thousands of nominations from across the globe.

About Provenir

Provenir helps banks, fintechs and financial services providers unlock the secret to smarter credit risk decisioning.

Provenir’s AI-powered platform brings together the power of decisioning, data, and case management to drive intelligent decisions. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.

Provenir works with disruptive financial services organizations in more than 50 countries and processes more than 4 billion transactions annually.

About Data Breakthrough

Part of the Tech Breakthrough organization, a leading global provider of market intelligence and recognition platforms for technology innovation and leadership, the Data Breakthrough Awards program is devoted to honoring innovation and market disruption in data technologies, services, companies and products. The global Data Breakthrough Awards program provides a forum for public recognition around the achievements of data companies and solutions in categories including data analytics, management, infrastructure and hardware, storage, Business Intelligence and more. For more information visit DataBreakthroughAwards.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

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What Should We Expect to See From Embedded Finance in 2024?

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What Should We Expect
to See From Embedded Finance in 2024?

Embedded finance, the integration of financial services into non-financial products and services, is a hot topic in the industry – and The Fintech Times is highlighting the latest trends, challenges, and opportunities that embedded finance has to offer. In this article, Provenir’s Executive Vice President of North America, Kathy Stares, shares her thoughts on how embedded finance is poised to improve financial inclusion, making financial services far more accessible for all. 

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