Portfolio and Reduces Default with Provenir Technology
10% increase in approval rate Reduction
Time
in Defaults
20% reduction in defaults
Greater ability to change decision flows Use Case: Consumer Lending Solution: Provenir Decisioning
Challenge:
Jeitto is a digital credit and services platform aimed at people who do a lot with little, granting financial resources in an uncomplicated, fast and secure manner to more than 9 million customers. Jeitto is headquartered in São Paulo, Brazil and was founded in 2014.
Jeitto wanted a solution that could increase the credit granting capacity and control the risk factors in Jeitto’s operations, promote greater agility to deal with changes in the target market profile, and allow for faster and more simplified integrations. Faster Response
Since 2022, Jeitto has been making a series of improvements to its platform, seeking to offer its customers an even better experience. They began searching for a solution that could provide greater agility in managing and adjusting their credit strategies, which is one of the main assets with their customer base. In addition, they needed a solution that was able to enable personalized consumer credit decisions for each different business partner.
“While the market was shrinking, we started to invest much more in decisioning capacity, working with more sources of information, more algorithms and more details. With a greater capacity to reduce credit risk, we achieved a 20% drop in default internally. With these results, we can say that we are on the right track to obtain a return on investment in Provenir’s solution”
Alex Franco, CRO,
Jeitto
Credit Journey Optimization with AI:
Jeitto
Doubles
Portfolio and Reduces Default with Provenir Technology
Solution:
With the adoption of Provenir’s AI and data-driven decisioning platform, Jeitto was able to improve the efficiency of its credit journey and support data-driven decision management in its credit granting, analysis, and reanalysis processes. With the use of Provenir, Jeitto is able to:
• Optimize credit operations and increase the credit granting capacity, while recognizing greater control of operational risk factors.
• Improve the time of process changes whenever macro conditions and/or the target market demand profile change.
• Improve the agility of management and adjustment of existing credit strategies.
• Create customized strategies, enabling new integrations and offer personalized consumer credit decisions.
Benefits:
• Ability to easily create customized strategies on a single platform
• Able to adapt credit policies by e-commerce partner
• Greater ease of integrations with providers resulting in a more complete view of credit counterparties
• Use of traditional and alternative data
• Faster speed to market
• Flexibility compared to other local competitors
• Cloud processing capacity
• User-friendly configuration and reliability
Credit Journey Optimization with AI: Jeitto Doubles
Portfolio and Reduces Default with Provenir Technology
Results:
The adoption of the scalable, cloud-native solution allowed the integration of several data sources from the financing company, accelerating the decision flow and significantly contributing to reducing the time of the overall credit assessment journey. With a shorter response time for the user, Jeitto doubled its customer base, recorded a 10% increase in the approval rate, a 20% reduction in defaults on the Jeitto Loan, and an 8% increase in the average ticket, in addition to promoting the financial and social inclusion of the Brazilian population.
• Reducing the credit assessment process from nearly 1.5 minutes per application to just 30 seconds.
• Processes were simplified, neutralizing the need for the technology team to be involved in changing decision flows, and offering Jeitto the ability to direct its tech resources elsewhere.
• With a shorter response time for the user, Jeitto recorded a 10% increase in the approval rate and a doubling of their customer base in the last year.
• Jeitto recognized a 20% reduction in defaults on loan contracts signed after adopting the platform and the average loan ticket increased by 8%.
• With improved control of risk factors and fraud prevention, which allowed for a more agile and efficient flow, Jeitto achieved hyper-personalization of the service and granular decisioning capacity.
• In just one year, Jeitto has already recovered the investment in the solution contracted from Provenir through the results obtained by the technology.
