NEWS

Record Revenue and Growing Customer Base Drives Expansion

Parsippany, NJ, April 14, 2021 – Provenir, a global leader in risk decisioning and data analytics software, today shared significant growth achievements in 2020 and signaled continued record growth expectations for 2021. During 2020, the company grew revenues, expanded into new markets, and increased its customer base, demonstrating the accelerating need for real-time risk decisioning solutions.

“We are proud of our performance in 2020 and our momentum is only growing in 2021,” said Larry Smith, Founder and CEO of Provenir. “Customers are demanding immediacy in all interactions so having real-time decisioning capabilities is critical. Provenir helps fintechs, financial institutions, and payment providers make smarter decisions faster by simplifying the risk decisioning process. We are making significant investments across our organization to continue anticipating market needs and delivering agile and innovative solutions.”

Revenue for Provenir’s SaaS solutions increased 25% year over year, driven by a 22% increase in its customer base of disrupters, and its increasing presence in the Buy Now Pay Later (BNPL) and challenger bank markets. The company also expanded into new markets around the globe including Latin America, UAE, and Asia, and now serves clients in more than 30 countries.

Additional achievements include:

• Invested 25% of revenue in research and development to continue developing industry-defining solutions
• Grew its employee base by almost 20% with plans to expand by 35-50% in 2021, capitalizing on attracting talent passionate about innovation
• Experienced a 20% increase in transactions, processing more than 2 billion transactions over 11 data centers
• Added capabilities for innovation in areas like eCommerce, eWallet, digital banking, BNPL, and open banking
• Recognized by the Canadian Lenders Association as a top Fintech Innovator for 2021
• Grew its Salesforce partnership with new risk decisioning solutions built on Salesforce Lightning

“This year, we’re introducing even more innovative capabilities to help organizations make real-time risk decisions with the rollout of the Provenir AI-Powered Risk Decisioning Platform,” Smith added. “We launched the first of several new products, the Provenir Data Cloud + Provenir Marketplace, and will continue to provide the leading-edge products our customers need in this digital-first world.”

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 make it easy to rapidly create sophisticated decisioning workflows. With a global data marketplace for seamless integration, powerful AI & machine learning models, and real-time insights, Provenir has supercharged decisioning speed. Provenir works with disruptive financial services organizations in more than 33 countries and processes more than 2 billion transactions annually.

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

NEWS

Industry-Leading One-Stop Data Hub Provides Access to Hundreds of Data Sources

Parsippany, NJ,  April 13, 2021 – Provenir, a global leader in risk decisioning and data analytics software, today announced that TransUnion (NYSE: TRU) has joined the Provenir Marketplace.

The Provenir Marketplace platform provides organizations with a one-stop data hub for easy access to data covering open banking, KYC/KYB, fraud prevention, credit risk, verifications, social media, collections, affordability and more.

To meet consumer and business demands for instant approvals, organizations need immediate access to a wide range of data sources to make informed, accurate risk decisions. TransUnion, a global information and insights company, will provide Provenir Marketplace users with access to industry leading data, analytics and solutions for real-time credit decisioning and consumer or device authentication, ensuring consumers and organizations can transact with confidence.

“This unique Marketplace brings together the leading stewards of data from around the globe to accelerate risk decisioning,” said Kathy Stares, Executive Vice President, Provenir Americas. “The wealth of data TransUnion brings will be extremely valuable to organizations seeking to make more informed decisions across the customer lifecycle.” 

The Marketplace provides users with access to a wide variety of traditional and alternative global data, enabling them to make smarter risk decisions faster. By leveraging distinctive identifiers, information and insights available from TransUnion alternative and trended data innovations, organizations can gain a deeper and more diversified view of consumers and stay ahead of evolving risk strategies.

“The access to data provided by the Provenir Marketplace aligns with our company’s intent to provide information that can help people around the world access the opportunities that lead to a higher quality of life,” said Aaron Smith, Vice President – Global Technology Alliances. “We are excited to provide access to our incredibly valuable data through this innovative data sharing community.”

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 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 33 countries and processes more than 2 billion transactions annually.

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

NEWS

Provenir announces the appointment of Frode Berg as new General Manager to spearhead growth in Europe and power credit decisioning.

Parsippany, NJ, March 11, 2021 – Provenir, a global leader in risk decisioning and data analytics software, welcomes Frode Berg as the new General Manager for EMEA. In his new role, Frode will be responsible for overseeing Provenir’s accelerated growth in the region and enabling new and existing clients, which include Klarna, Avida Finans, Novuna Capital and White Oak UK, to make smarter decisions, faster.

Frode joins Provenir with a wealth of commercial leadership experience as well as deep expertise in data, analytics and decisioning. Prior to joining Provenir, Frode held senior leadership roles at Experian Nordics and Dun & Bradstreet, leading regional business units including sales, operations, and innovation.

“Frode’s deep product knowledge and leadership experience in our markets will help take Provenir to greater heights,” said Larry Smith, CEO and Founder. “For more than 15 years, we have delivered best-in-class credit decisioning, data and analytics solutions to clients around the globe. Frode will help us expand our presence and identify new decisioning markets in EMEA.” 

Commenting on his appointment, Frode added: “I’m delighted to join Provenir at such an exciting phase of their journey. The level of disruption across the industry is high, and Provenir offers unique decisioning, data and analytics solutions to support the rapid digitization of the sector. I have long admired their impressive track record of solving complex business challenges for Fintechs and established financial institutions.”

Connect with Frode on Linkedin.

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