Provenir and Hastings Financial Services win ‘Best Digital Lending Implementation’ at the IBSi Global Fintech Innovation Awards

By Gloria Methri

Provenir, a provider of AI-powered risk decisioning software, and Hastings Financial Services have been recognised for excellence in this year’s IBSi Global Fintech Innovation Awards.

The companies’ collaboration was honoured in the “Best Digital Lending Implementation: Most Impactful Project” category for revolutionising digital lending for UK consumers. The winners were unveiled on November 22 at an awards ceremony at Taj Lands’ End in Mumbai.

The IBSi Global Fintech Innovation Awards celebrate banking technologists driving exceptional advancements in the FinTech sector, recognising efforts that redefine industry standards and enhance global financial services.

Hastings Financial Services processes £350 billion in quotes annually, serving consumers’ diverse lending needs. Seeking to modernise its digital customer experience, Hastings partnered with Provenir to implement cutting-edge technology, data integration, and decision-making capabilities. Provenir’s AI-powered Decisioning Platform enabled Hastings to deliver exceptional digital experiences and best-in-class decisioning.

Nikhil Gokhale, Director of Research & Digital Properties at IBS Intelligence, congratulated Provenir and Hastings Financial Services for the well-deserved win in the category by saying, “Hastings Financial Services has raised the bar in digital lending through its strategic partnership with Provenir. The integration of Provenir’s AI-Powered Decisioning Platform has enabled sub-2-second quote times and expanded quote capacity from 25,000 to 111,000 daily, covering 95% of the Price Comparison Website market. This implementation exemplifies agility and innovation, positioning Hastings as a market leader.”

“Hastings is a technology and data-driven FinTech company dedicated to giving our customers a fair, easy-to-understand loan process by implementing innovative technology solutions into our stack, which also enables our ambitious growth plans; our partnership with Provenir allows us to meet this ambition,” said Adam Malcolm, CEO, Hastings Financial Services.

“Hastings Financial Services has quickly established itself as a major player in the UK lending market, thanks to its ability to scale rapidly, deliver swift decisions, and provide exceptional customer experiences,” said Ryan Morrison, Provenir’s Executive Vice President. “Hastings’ innovative use of technology supports the delivery of tailored lending solutions that meet the evolving needs of UK consumers. The firm is setting a new standard for digital lending and differentiating itself in a highly competitive market.”