Provenir announces strong growth in 2022

Last month, credit risk decisioning firm Provenir announced strong revenue and customer-base growth in 2022.

The international firm, whose US headquarters are located in Parsippany, NJ, said in a release on Feb. 14 it grew its revenue by 35 percent last year while increasing the number of customers by 24 percent.

In 2022, Provenir introduced its AI-powered data and risk decisioning platform, which delivers a combination of data, decisioning, and AI for more accurate risk decisions across identity, credit, and fraud.

New global customers for Provenir’s risk decisioning software last year include AMU Leasing, AutoChek, Davivienda, DeltaPay, Investree, Provu, Quick Finans, Topi, and Varo.

Larry Smith of Provenir
Larry Smith, Provenir CEO, and founder

“Our results, despite uncertain economic conditions globally, underscore that fintechs and financial services providers need a flexible platform that can provide deep insights instantly,” Larry Smith, Provenir’s founder and chief executive officer, said in a media release.

“Those organizations that can leverage additional data sources and use AI to test and deploy new strategies quickly will be able to serve their customers better, detect fraud, and capture new market share.”

Other 2022 highlights for credit risk firm

  • Provenir expanded its workforce worldwide, adding staff in key markets, including Latin America, Africa, the Middle East, Europe, Canada, and India, with expansion into several countries in Southeast Asia and South America. It also added a new operations and technology hub in India.
  • The firm won Best Credit Risk Solution for the second year at November’s Credit & Collections Technology Awards. It also won the Data Solution of the Year for Finance at the Data Breakthrough Awards, was awarded gold for the Juniper Research Future Digital Awards for Fintech & Payments, and was named to the Credit & Collections Technology Power List of Top 20 Companies in 2022.
  • Provenir Marketplace labeled a comprehensive fintech data and intelligence ecosystem, expanded to more than 100 data partners, achieving 57 percent growth.
  • Provenir established new partnerships with global players, including TransUnion and Visa. Through the TransUnion Strategic Alliance Distribution Program, TransUnion’s clients can use Provenir’s platform for deeper data insights. As part of Visa’s Ready for BNPL program, Provenir gives clients offering Buy Now Pay Later services deeper insights to make better decisions.
  • The firm also established Provenir Brazil, its fifth global entity, and gained ISO/IEC 27001 and Helios certifications, both globally recognized information security standards.
  • Craig Ellingson

    Craig is a freelance writer and editor. He has toiled in various positions for various newspapers in Western Canada, including the Edmonton Journal and the Calgary Herald.

    When he’s not busy fixing his home, you can find him experimenting with his slow cooker, finding the right grind (and coffee bean) for his AeroPress, reading fiction and non-fiction, mulling over director Ingmar Bergman’s works, and practicing his backward crossovers (both sides!) while ice skating.