Proven AI reduces cost, complexity and time to market

Provenir, a global leader in AI-powered risk management software for the fintech industry, today introduced Provenir AI, which gives financial institutions the power of artificial intelligence (AI) for a more efficient and faster decision-making while eliminating barriers to entry via a no-code approach. .

While AI offers the opportunity to radically improve risk decision-making, many struggle to make AI initiatives profitable. A recent survey by Provenir shows that only 21% of financial services organizations begin to see ROI from AI initiatives within 120 days.

Proven reduces the cost, complexity, resource requirements, and time to market of AI with tailored and trained models for risk decision making throughout the customer lifecycle, including orchestrating fraud prevention and financial inclusion.

The solution solves many industry AI challenges:

  • The Software-as-a-Service model lowers the cost of entry with zero upfront development costs.
  • Purpose-built models and datasets for specific risk decision-making use cases enable 60-90 day implementations for longer time to value.
  • Full AI explainability provides transparency into “why” and “how” decisions are made.
  • Live model recycling eliminates downtime, supporting continuous improvement for greater decision accuracy.
  • Machine learning models orchestrate fraud prevention and financial inclusion throughout the customer lifecycle.

Additionally, Provenir AI is enhanced through Provenir Marketplace to mitigate model bias with data diversity. With access to over 535 country/data/partner combinations through a single API, the Provenir Marketplace provides preconfigured access to the data and information required for global risk decisions.

Among the organizations considering using data-driven AI approaches for competitive advantage is SoFi, the digital personal finance company. A key guiding principle of the company is to iterate, learn and innovate by adopting data-driven decisions. “AI and machine learning are part of the modern toolset financial services organizations need to build and refine predictive models to deliver high levels of responsiveness and the best customer experience,” said Adam Colclasure, Senior Director, Risk Infrastructure for SoFi.

“Provenir AI powers faster innovation by supporting a lending strategy that delivers the highest returns in customer satisfaction and revenue through deeper insights, continuous optimization, and smarter, more accurate decision-making when it comes to lending.” risk”, said Carol Hamilton, Senior Vice President, Global Solutions for Provenir. “AI finds relationships in your data that traditional decision-making cannot, enabling financial institutions to optimize their portfolio, support greater personalization in product offerings for greater competitive advantage, and improve fraud prevention and financial inclusion.”

Provenir AI: A key part of Provenir’s unified platform for data, AI and decision-making

Provenir AI is a key part of Provenir’s approach to smarter, data-powered, AI-driven risk decision-making. Provenir embeds powerful decision-making AI at the heart of financial services processing by enabling universal access to data – the ultimate fuel for data modeling – and the means to easily operationalize decision-making outcomes.

This enables newfound agility through minute, speed, and scale risk assessment. Fintechs choose this platform to accelerate the launch of products such as Buy Now Pay Later (BNPL), small and medium business loans, car financing, etc.

With the unique combination of universal access to data, simplified AI, and world-class decision-making technology, Provenir AI provides a cohesive risk ecosystem to enable smarter decisions across the lifecycle of the risk. customer – with diverse data for deeper insights, self-optimizing decisions, and a continuous feedback loop for constant improvement.

With a unified platform for data ingestion and integration, predictive modeling, and AI-powered decision making, Provenir eliminates siled approaches and model governance headaches.

To learn more about Provenir’s AI-powered decision platform, please visit

Sharon D. Cole