Challenger Bank, Instabank has announced a partnership with Provenir. Instabank is using Provenir’s technology to aggregate credit applicant data from structured and unstructured data sources, including credit bureaux and its core banking system, to provide customers with an instantaneous credit decision.
Robert Berg, CEO, Instabank said “Our entire approach is built on simplifying banking, making the customer’s experience very fast and effortless; from the customer-onboarding process through every subsequent interaction. With the speed and flexibility of the Provenir Platform driving our credit decisioning, our customer is able to apply for a loan while she’s on her lunch break and receive an approval immediately.”
“The nature of our business requires an analytics and decisioning engine that places the control in our hands to manage and configure business logic or credit policy as the company grows. Provenir gives Instabank that control in every aspect – from the ability to operationalize our analytic models down to the visual integration tools.”
Paul Thomas, Managing Director of Provenir said “Provenir Cloud is a great fit for Instabank as the digital lending landscape becomes more competitive in Europe. We understand how increasingly important it is for the Challenger Bank to grow its online lending capabilities quickly and we’re pleased that Instabank is using Provenir to expand the lending experience for its customers.”