Figopara taps Provenir AI-Powered Risk Decisioning platform

By Delisha Fernandes

Provenir, a global AI-powered risk decisioning software, has 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.

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.

“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.”

Figopara stands at the intersection of 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. It also wanted to enhance its risk models with advanced machine learning algorithms and predictive analytics.

“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.”