July Edition 2023

Provenir – From startup to decacorn, leveraging robust credit AI-based decisioning software that fits all the business needs


Risk management cannot be an afterthought or addressed only by model-validation functions such as those that currently exist in financial services. Companies need to build risk management directly into their AI initiatives, so that oversight is constant and concurrent with internal development and external provisioning of AI across the enterprise. We call this approach “derisking AI by design.” Advances in analytics and modeling are making credit risk decisioning more efficient and precise. And while businesses may face challenges in developing and deploying new credit risk models, machine learning — a type of artificial intelligence (AI) — is paving the way for shorter design cycles and greater performance lifts. By more precisely scoring applicants, you can shrink the population in the middle of your score range, the segment of medium-risk applicants that are difficult to evaluate. You can then lower your high-end cutoff and raise your low-end cutoff, which may allow you to more confidently swap in good accounts (the applicants you turned down with other models that would have been good) and swap out bad accounts (those you would have approved who turned bad). Artificial intelligence (AI) is poised to redefine how businesses work. Already it is unleashing the power of data across a range of crucial functions, such as customer service, marketing, training, pricing, security, and operations. To remain competitive, firms in nearly every industry will need to adopt AI and the agile development approaches that enable building it efficiently to keep pace with existing peers and digitally native market entrants. But they must do so while managing the new and varied risks posed by AI and its rapid development.

Provenir is one such company that is providing cloud-native data, AI and decisioning platform puts industry-leading technology in the palm of your hand — no matter how big your business grows. A unified solution for data, AI, and decisioning, its cutting-edge AI-powered decisioning technology makes it easy to launch, learn and innovate, driving the agility and flexibility to power your business growth. Provenir powers risk decisioning processes across identity, credit and fraud to help you get ahead, and stay ahead of risk. They’ve designed the AI-Powered Decisioning Platform, with key data, AI and decisioning capabilities, to give you the flexibility to iterate, expand, and scale on your timeline. Its risk analytics and decisioning platform is a powerful orchestration hub that can listen to any channel, integrate with any data service and operationalize any analytic model. The company serves clients in a broad range of financial verticals including consumer, cards, payments, ecommerce and auto financing. They pride themselves on the ability to deliver immediate business value to you clients' through transparent, progressive and collaborative culture.

Leveraging Best-in-Class AI-Based Credit Decisioning Solutions

Decisioning Cloud: In a world of instant everything, it is important for businesses to make right decisions at the right time. And the right time is now. This means you need instant decisioning tools that put you in control of designing, building and deploying sophisticated, automated real-time decisioning processes. That’s where Provenir’s Decisioning Cloud comes in. Its no-code, cloud-agnostic technology lets business users easily create automated decisioning workflows across the entire customer lifecycle. From loan origination to merchant onboarding, you’ll have the power to handle thousands of processes, risk decisions and workflows in the palm of your hand.

Data Cloud + Marketplace: You need the right data at the right time to decision, strategize and make smarter business choices. But selecting, accessing, and using data can be a challenge. Provenir's Data Cloud + Marketplace let your business take control of data all from one centralized, easy-to-access location. With the Data-as-a-Service tools, you get simplified data integration, fully maintained APIs, and access to a wide variety of traditional and alternative data — so you can unlock the value of data and discover new insights. It's Fintech Data and Intelligence Ecosystem is always growing. Explore global and regional data sources covering identity, verification, open banking, bureaus, fraud, mobile, business, device, alternative, and more. The Data Cloud + Marketplace make powering your global and regional data strategies a breeze. With simplified access to data sources, you get all the benefits of data, without the integration headaches and maintenance costs.

Provenir AI: Optimized customer experiences, maximized decisioning performance, and the power to innovate in real-time sets organizations apart. From winning new customers to increasing customer lifetime value, AI-powered decisioning technology gives you the ability to make more accurate decisions across the customer lifecycle. To put AI to work across your risk decisioning you need a user-friendly, purpose-built solution that lets you launch quickly and drive value from day one. That’s where Provenir AI comes in. Designed and built to get your AI strategy live at record speed, you get maximum impact with minimal upfront costs. Imagine the business value of more accurate decisions across the customer lifecycle. With Provenir AI the possibilities to enhance decisioning and improve the customer experience are endless. They’ve taken a complex challenge and created a simple solution that empowers you to deploy auto-optimized AI into any decisioning workflow, so you can more confidently identify fraud, assess credit risk, optimize pricing, and much more. With Provenir AI it’s quick and easy to get AI models driving real-world predictions at record speed. With model training and optimization completed during implementation, you can get your AI strategy live in weeks, not months.

The Leader Upfront

Lawrence Smith is the founder and the Chief Executive Officer of Provenir.

“Whether you’re launching a startup, or scaling a unicorn, Provenir helps you power beyond your business goals. From data to AI-driven credit risk decisions, we’re powering innovation.”