Provenir helps banks, fintechs and financial services providers make smarter decisions faster with its AI-powered risk decisioning platform. Its Chief Product Officer Carol Hamilton tells Qorus’ Boris Plantier more about it.
What led to the creation of Provenir?
The creation of Provenir stemmed from a need for more agility and flexibility in the financial services industry. Back in 2004, financial institutions were often weighed down by cumbersome processes for things like verifying customer identities, making credit decisions and detecting fraud. There was a real need for a more efficient and adaptable solution.
Provenir was created to provide just that – a low-code platform that could handle these processes faster and more effectively, allowing financial institutions to respond to challenges with greater agility. It was all about giving businesses the tools to adapt quickly and make smarter decisions without being bogged down by the rigid systems that were the norm at the time.
Over the years, Provenir evolved, taking the platform to the cloud. By becoming cloud-native, Provenir not only kept up with the rapid changes in the financial sector but also led the industry by offering even more scalability and flexibility. This allowed financial institutions to continue being agile and to manage risks with greater ease, ensuring that they could keep up with new regulations, customer needs and technological advancements.
In short, Provenir was created to give financial institutions the agility they needed back then, and through its journey, it continues to lead the way by providing the modern, scalable solutions they need today.
As of 2024, Provenir processes over 4 billion transactions annually for customers providing financial services offerings in more than 60 countries.
Could you present Provenir's offer?
Provenir offers a flexible, AI-powered decisioning platform that helps financial institutions balance risk with opportunity across the entire customer lifecycle. By combining real-time data, dynamic orchestration and advanced analytics, Provenir streamlines processes like onboarding, application fraud prevention, customer management and collections.
What sets Provenir apart is its one-platform approach, empowering institutions to make smarter, faster decisions while boosting agility and scaling operations seamlessly. Provenir’s platform leverages decision intelligence for predictive insights, optimizing decisions across the customer lifecycle to minimize risk and maximize customer value.
Additionally, Provenir’s Data Marketplace provides access to a wide array of data sources, including alternative data, enabling more accurate decisioning. With its low-code interface, Provenir allows business users to easily configure workflows without technical expertise, making it adaptable to changing needs.
Provenir equips financial institutions with the tools to make data-driven decisions, operate efficiently and enhance customer engagement across the entire lifecycle.
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What's coming next for Provenir?
A key focus area is further expanding our capabilities in decision intelligence. As the demand for smarter, more predictive decisioning continues to grow, Provenir is committed to delivering advanced AI-powered insights that help financial institutions not only react to risks and opportunities but also anticipate them.
Our platform will continue to evolve by leveraging machine learning and predictive analytics to provide real-time, data-driven decisioning across every stage of the customer lifecycle. We're also focusing on enhancing monitoring capabilities to ensure businesses can track performance and turn insights into action more effectively.
By enhancing our decision intelligence capabilities, we aim to give businesses more precise, holistic views of customer behavior, risk, and opportunity. This will allow them to optimize strategies, stay ahead of fraud threats, and personalize customer interactions like never before. As Provenir moves forward, we’ll remain at the forefront of AI-driven decisioning, empowering institutions to make smarter, faster decisions with more confidence.
