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TransUnion Selects Provenir to Deliver AI-Powered Risk Decisioning to Clients 
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April 27, 2022 News

 

Provenir, a global leader in Artificial Intelligence (AI)-powered risk decisioning software, has announced it has been selected to join TransUnion’s Strategic Alliance Distribution Program. Through this alliance, TransUnion clients will be able to take advantage of Provenir’s industry-leading platform to gain deeper insights from more data sources to power a new level of decisioning speed and accuracy.

The way consumers interact with financial services products is changing, rapidly—consumers expect instant decisions, personalised offers and automated, digital experiences. Meanwhile, fraud losses hit $56 billion in 2020 and fraud attacks are only getting more sophisticated and widespread. To address these challenges, financial organisations are increasingly seeking technology that provides flexibility, scalability, access to new data sources and self-learning models.

Provenir provides the answer with its industry-leading AI-powered decisioning platform that uniquely combines universal access to data, including TransUnion’s world-class data, simplified AI and sophisticated decisioning technology. This provides a cohesive risk ecosystem to enable smarter decisions across the entire customer lifecycle—with diverse data for deeper insights, auto-optimised decisionn and a continuous feedback loop for constant improvement.

“Provenir is a valued long-term business partner,” said Aaron Smith, TransUnion Vice President of Global Platform Partnerships. “Now our customers can leverage TransUnion data in more ways as it is integrated within the Provenir platform. Backed by a strong commitment to R&D and ongoing product development, Provenir offers the flexibility and scalability our clients say they need to respond quickly to changing market conditions and to support rapid growth.”

“We’re excited to expand our relationship with TransUnion and help clients of all sizes and complexity benefit from our AI-powered platform,” said Kathy Stares, Executive Vice President, North America, at Provenir. “While organisations may understand the transformative power of AI-enabled risk decisioning, they often struggle with mounting the resources needed to develop, deploy and maintain AI initiatives. Our platform does this for them, eliminating high development costs and resources, enabling organisations to recognise ROI often within at little as 60 days.”

“Organisations must be able to make accurate credit decisions instantly to deliver superior customer experiences, and Provenir’s AI-powered decisioning platform makes it possible by bringing together the essential components of data, AI and decisioning,” said Bharath Vellore, General Manager, APAC, at Provenir. “We’re enjoying great success partnering with TU to help clients respond quickly to market changes and make smarter, real-time decisions.”

 

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