FF News Logo
Friday, December 06, 2024

Turkish Invoice Financing Platform Figopara Turns to Provenir’s Risk Decisioning Capabilities to Fuel its International Growth

Provenir, a global leader in AI-powered risk decisioning software, today announced that Figopara, an online marketplace for invoice financing, has selected the Provenir AI-Powered Risk Decisioning platform to automate decisioning and accelerate its global expansion.

Figopara stands at the intersection of cutting-edge fintech innovation and deep domain expertise in supply chain financing and SME lending. With an expansive database cultivated over years of operation in Istanbul’s fast-growing fintech ecosystem, the company provides robust solutions for businesses across various sectors. Its proprietary scoring algorithm, FigoScore, serves as an example of Figopara’s commitment to improving financial inclusion and transparency.

Figopara has significant international expansion plans and its risk assessment models needed to scale and adapt to new markets and regulatory environments seamlessly. It also wanted to enhance its risk models with advanced machine learning algorithms and predictive analytics. The company sought a partner with global reach that could bring the scalability, skills and expertise required to meet its goals.

Figopara therefore turned to Provenir which allows it maximum flexibility to change and update its strategies without IT dependency.

“While we have consistently delivered value through our data-driven approaches and domain-specific insights, we recognise the evolving financial risk landscape demands a more refined, real-time, and predictive risk assessment model,” said Cuneyt Aydemir, Risk Management Director at Figopara. “Partnering with Provenir allows us to integrate high-level analytics and regulatory know-how into our existing platforms. This exciting collaboration not only allows Figopara to bolster its existing services – it also sets the stage for disruptive innovations in the fintech landscape.”

“We are excited to partner with Figopara and help build a scalable framework that will easily support its expansion plans and ensure compliance with local regulations,” said Corinne Lleti, Director General, Southern Europe for Provenir. “Our expertise complements Figopara’s domain-specific insights, offering a more comprehensive solution that will empower the company to strengthen its risk decisioning capabilities and quickly respond to changing market needs.”

The partnership with Provenir will help Figopara to deploy enhanced analytics whilst achieving regulatory compliance in new markets. By giving Figopara the ability to better automate decisioning, Provenir’s technology will help the company to manage headcount, reduce bad debt, and increase revenue by offering value-added services to their customers.

People In This Post

Companies In This Post

  1. Equifax and Mastercard Join Forces to Combat Payment Fraud in Latin America Read more
  2. BlueSnap Named a Preferred Payments Partner for Zuora Read more
  3. Abacus Group and Zero Networks Partner to Boost Network Security Across Financial Services Read more
  4. Bitget Lists GMCI Meme Index Perpetual: Capturing the Essence of Crypto’s Trending Meme Culture Read more
  5. MobiFin and INETCO Partner to Deliver Cutting-Edge Digital Banking and Payments Security Read more