PARSIPPANY, N.J.--(BUSINESS WIRE)--Provenir, a global leader in AI-powered risk decisioning software, today announced record growth in 2021, achieving a 194 percent increase in new customers and a 55 percent increase in Software-as-a-Service revenue year over year.
Provenir also continued its global expansion in response to increased demand for its products and services. In 2021, the company moved into new markets, including Germany, Austria, Switzerland (DACH), Turkey, the Middle East, the Balkans, and Africa, and expanded its presence in Latin America and Asia, bringing the total number of countries served to nearly 50.
As a result of this growth, the company increased its global workforce by 49 percent last year.
This growth sets the stage for Provenir to gain additional traction in key global regions and in the growing Buy Now Pay Later (BNPL) and challenger bank sectors, which need technology that provides access to alternative data for smarter decisioning and faster client onboarding.
“We are extremely proud of our record-breaking performance in 2021, and we see no signs of this momentum slowing down in 2022,” said Larry Smith, Founder and CEO of Provenir. “We are witnessing significant expansion in the types of businesses seeking our real-time decisioning solution across all geographies. Our unified solution brings together the three essential components of risk decisioning – data, AI and decisioning – into one single decisioning platform to help organizations provide the real-time decisioning customers demand today.”
Additional key company milestones achieved in 2021 include:
- Introduced product innovations such as Cloud 2.0 and Provenir AI, which continue to simplify data access, make AI accessible and automate decisioning.
- Invested 25 percent of revenue in research and development to continue developing industry-defining solutions, including extending AI capabilities.
- Welcomed more than 60 new partners to the Provenir Marketplace, a comprehensive fintech data and intelligence ecosystem providing access to more than 530 country/data/partner combinations through a single Application Programming Interface (API).
- Experienced a 50 percent increase in transactions, processing more than 3 billion transactions over 11 data centers.
- Expanded the use of Provenir for financial inclusion with customers in all regions.
- Among other accolades received, Provenir was recognized as the “Best Credit Risk Solution” in the Credit & Collections Technology Awards, qualified as a finalist in Credit Strategy’s Credit Awards in the “Best Technology Provider” category and was named to the Inc. 5000 Fastest Growing Private Companies in America.
Provenir customers include leaders and challengers in the fintech and financial service sectors such as Zilch, AskIf, Kueski, Koko, Reliant Funding and Rent-A-Center that are gaining a decisive advantage with risk management data and decisioning on-demand via Provenir’s AI-powered risk decisioning software.
Provenir helps fintechs and financial services providers make smarter decisions faster with our AI-Powered Risk Decisioning Platform.
Provenir brings together the three essential components needed – data, AI and decisioning – into one unified risk decisioning solution to help organizations provide world-class consumer experiences. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, access to financial services, business agility, and more.
Provenir works with disruptive financial services organizations in more than 50 countries and processes more than 3 billion transactions annually.