Provenir introduces onboarding fraud solution

Being committed to supporting businesses navigate this complex environment, Provenir collaborated with third-party providers to launch a fraud onboarding solution for the market. Through its AI-enabled Decisioning Platform, the company focuses on enabling organisations to predict fraud threats via available data sources that can be integrated into decisioning workflows, AI model creation, and monitoring, to optimise fraud risk models. Also, the Provenir platform integrates and manages several data sources or end-point solutions within one platform for fraud decisioning. This aims to allow organisations to develop custom strategies implementing third-party data as fraud risks and behaviours change.

Moreover, the risk decisioning platform connects fraud scores, identity checks, and device validation, including several layers of fraud detection, into a decisioning workflow to eliminate threats at application screening, such as synthetic fraud, impersonation, and mule indicators. Provenir’s solution plans to also mitigate siloed environments between credit and fraud risk teams, to ensure an end-to-end decisioning with a full view of customers across the entire lifecycle.

According to Provenir’s officials, the company’s platform aims to support a more accurate application fraud detection and prevention with minimised difficulties across the lifecycle whilst enabling sustainable business development. Through its solutions, Provenir plans to support banks, fintechs, and financial services providers to improve their risk decisioning and management. Currently, the company collaborates with organisations across over 60 countries and processes more than four billion transactions annually, according to its data.