Inside AI-Powered Risk Decisioning: Insights from EVP of Provenir North America, Kathy Stares.
Jun 5, 2024
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Kathy Stares, EVP of North America for Provenir, discusses AI-powered risk decisioning software in financial services, automation benefits, data sources, and business problems. She touches on banking strategies, platform extent, Provenir differentiation, and future trends. The conversation also includes insights on Millennials, GenZs, and the impact of technology in the financial industry.
Provenir's AI platform automates risk decision-making in banking with predictive modeling.
Trends include digital banking growth and personalized financial strategies for millennials and Gen Z customers.
Deep dives
Overview of Proveneer and the Guest's Background
Kathy Stairs, the executive vice president of North America for Proveneer, a leader in AI-powered risk decision software, is interviewed. Proveneer processes over 4 billion transactions annually in more than 50 countries. Kathy's expertise in financial services technology spans over 20 years, transitioning from banking to the technology side focused on risk decision innovation.
AI-powered Risk Decision Software
Proveneer offers an AI-powered platform for risk management in financial institutions, covering customer onboarding, fraud detection, and personalized customer interactions. Using machine learning, the platform analyzes customer data to automate decision-making processes, delivering tailored offerings like credit approvals or adjustments in real-time based on predictive modeling.
Technology Integration and Customized Solutions
Proveneer's end-to-end cloud-based platform integrates with banks of all sizes, delivering solutions for credit risk lifecycle, customer management, and fraud detection. The platform allows banks to tailor decision strategies and optimize customer interactions based on predictive analytics and real-time data, enhancing operational efficiency.
Personalization and Financial Wellness Trends
Near-term trends predicted include increased digital interactions in banking, a rise in sustainable investing preferences, and a focus on financial education, particularly for millennials and Gen Z. Proveneer emphasizes personalized interventions, leveraging ML to prevent loan defaults and enhance financial wellness, aligning with evolving consumer demands.
Kathy Stares, EVP of North America for Provenir talks about AI-powered risk decisioning software, processing more than four billion transactions annually for disruptive financial services organizations in more than 50 countries worldwide.
01:14 Meet Kathy Stares
04:34 The Start of Summer
08:01 AI Powered Risk Decisioning
11:31 The Tech Behind Povenir
13:42 Models
14:32 Data Source
16:43 The Business Problem
17:33 Banking Strategies
18:48 The Extent of the Platform
20:28 Automation
21:46 Provenir Differentiation 22:47 Millennials and GenZs?
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