Chartis Research Executive Brief Details Provenir ‘Best-in-Class’ Capabilities for Credit Risk and Fraud Mitigation

As financial institutions endeavor to balance risk with opportunity across credit, fraud, and identity/compliance, a new executive brief from Chartis Research details the most crucial technology capabilities to address key and emerging credit decisioning use cases.

Organizations must verify identity quicker, detect fraud earlier, and make more accurate credit decisions overall. The Chartis Research brief outlines key requirements for “best-in-class” decisioning, including the application of Machine Learning and AI, automation in vital areas such as Know Your Customer (KYC), and real-time fraud alerts. The importance of cross-institutional data sharing and data-driven identify verification and scoring for real-time risk assessment and synthetic ID fraud detection are also emphasized as key capabilities.

Per Chartis Research analysts, Provenir, a global leader in AI Decisioning Software, provides best-in-class market-leading functionality across the board.

“Chartis considers Provenir to be a global leader in software and services, providing top-tier RegTech and risk products to financial institutions across the globe,” said Anish Shah, Research Director at Chartis Research. “Provenir exhibits best-in-class capabilities nearly across the board, with comprehensive solutions for credit risk decisioning, credit monitoring, credit risk management, credit portfolio management, identity verification and fraud and ID monitoring and management. The company’s adoption of such advanced technologies as AI and ML has enabled it to provide an industry leading automated workflow framework that addresses the market challenges around credit and fraud risks. It also provides a robust analytical framework that allows financial institutions to analyze data and make timely decisions in real time. The fact that Provenir delivers on both these fronts is distinctive.

“Due to the highly configurable nature of its platform, Provenir empowers clients across a range of industries, including payments, banking, digital banking, small and midsize enterprise (SME) lending, credit unions, FinTech, telecom, auto financing, buy now, pay later (BNPL), consumer lending, credit cards and embedded finance.”

“As the financial services landscape evolves, it is clear that combining credit and fraud management is no longer a choice but a necessity,” said Carol Hamilton, Chief Product Officer for Provenir. “Provenir’s AI Decisioning Platform empowers institutions globally to streamline operations, combat fraud, and drive better business outcomes. By leveraging cutting-edge AI and Machine Learning technologies, Provenir enables organizations to make smarter, faster, and more accurate decisions, driving success in an increasingly complex and regulated market.”

The full report, which details the convergence of credit and fraud, industry trends, and an overview of Provenir’s AI Decisioning Platform, can be downloaded here.