Provenir_Case_Study_Lending and Banking_Blinded-2_210722

Rapidly take new products to market

Lending + Banking

This company is a leading financial services platform provider.

Decisioning Cloud

Decision loans + perform fraud checks in real time

Quickly respond to increased volumes + changing business needs

As this online lender matured, the team identified new opportunities to expand market reach beyond student loan refinancing and started to offer a full range of consumer financial products from bank accounts, loans, and mortgages to wealth management services.

Like most FinTech companies, they built its systems in-house using custom code. Their existing technology could not leverage cross-product synergies, creating silos in their functional groups.

With this move into new markets, scalability and flexibility became a major challenge as they focused on expanding their business and improving loan quality.

They chose Provenir as their risk decisioning platform, with the objective of enabling business owners to take responsibility for their operations. Working with Provenir Professional Services, the team designed an elegant solution for their complex business requirements including models, risk tiering, offer generation, decision trees and much more.

• •

•

For personal loans, Provenir designed connectivity to Amazon’s machine learning model and complex risk tiering business logic. Subsequent enhancements support a much larger implementation within the Provenir decisioning engine that consists of various calculations and computations, business rules, checks and validations, versioning of applications, offer generations, adverse action reasons, and decision trees.

Provenir is also powering in-school student loans and refinancing, and fraud check.

•

•

•

With the help of Provenir, this company can make decisions on loans and perform fraud checks in real time. They also have the structure and support to respond quickly to increasing volumes and rapidly introduce new products. Extremely large transactional volumes are supported in a single environment, allowing aggressive SLAs to be met consistently.

The two teams worked very closely to design the overall strategy to allow this fintech to continue to grow and expand into new business lines. Provenir’s Professional Services team collaborated closely with the customer’s development team to deliver these solutions and provide training. Over time, the in-house development team has become self-sufficient. This continues to be a long-term partnership as the two teams extend Provenir’s capabilities in support of their expanding business strategy.

Explore What’s Possible