back Back

Provenir launches Onboarding Fraud Solution to combat online scam

By Gloria Mathias

June 25, 2024

  • AI-powered risk decisioning software
  • Banks Fintech
  • BNPL

Provenir, BNPL, Risk Management, DeltaPay, Powered Data and Risk Decisioning Platform, Provenir Marketplace, Online fraud solutions, Business Fraud detection, Banks Fintech, Financial Institutions, Provenir, a global leader in AI-powered risk decisioning, has launched the Onboarding Fraud Solution to help organizations fight back by detecting emerging threats via sophisticated decision-making tools and advanced analytics. This solution increases fraud detection while minimizing friction in the customer journey.

Identity theft and synthetic identities continue to be major concerns. By 2025, they will account for roughly half of all financial services fraud cases.

Provenir helps banks, FinTechs, and financial services providers unlock the secret to smarter risk decisioning. It is on a mission to help businesses navigate this increasingly complex landscape. It has collaborated with best-of-breed third-party providers to bring a fraud onboarding solution to market. Provenir’s AI-Powered Decisioning Platform enables organizations to stay ahead of fraud threats with readily available data sources that can be easily integrated into decisioning workflows, AI model creation and monitoring, and continuous optimization of fraud risk models, with configurable rules to respond quickly when new threats arise.

The Provenir platform integrates and manages multiple data sources or end point solutions within one platform for fraud decisioning. This extensibility and flexibility enable organizations to create custom strategies integrating third-party data as fraud risks and behaviours change and new vendors and offerings come to market.

The AI-powered risk decisioning platform connects fraud scores, identity checks and device validation, integrating multiple layers of fraud detection into decision-making workflows to mitigate threats at application screening, including synthetic fraud, impersonation and mule indicators. This also eliminates siloed environments between credit and fraud risk teams to ensure holistic, end-to-end decisioning with a complete view of customers across the entire lifecycle.

“Fraud prevention is a crucial area of focus for today’s progressive financial institutions,” said Sophia Qureshi, Vice President of Product Management, Fraud Solutions, Provenir. “This requires an intelligent approach that reduces unnecessary (and unwelcome) friction in the customer journey. This underscores the value of having a single integrated, intelligent decision-making platform that can analyze and manage all fraud and credit risk across the customer lifecycle. This helps balance better, more accurate application fraud detection and prevention with reduced friction across the lifecycle while powering sustainable business growth.”

Previous Article

June 25, 2024

BTK Bank taps Sopra Banking Software for its digital banking suite

Read More
Next Article

June 25, 2024

5 Biometric payment cards elevating checkout experience in Europe

Read More

IBSi Daily News Analysis


July 19, 2024

AI-powered risk decisioning software

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 22, 2024

Bud expands data intelligence platform with new office in Lithuania

Read More

July 22, 2024

GoTo launches Dira, the AI-based FinTech voice assistant in Indonesia

Read More

July 19, 2024

LTIMindtree extends multi-million-dollar contract with Absa Bank

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024