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.
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