Sweden’s Resurs Bank has selected risk decisioning solutions provider Provenir to globally support its customer risk and decisioning processes.
The bank’s growth necessitated the deployment of a uniform credit approval process that would use the information from multiple core systems.
The new Provenir platform will offer a digital credit decision solution including credit scoring that will be utilized by the bank across all of its credit and lending products.
The solution is expected to help the lender enhance the quality of credit decisions, quickly update credit policies without IT consultation, as well as improve customer pre-selection targeting through effective internal data use.
In addition, overhead costs will be reduced due to the single platform across the bank’s businesses, which in turn will facilitate quicker new market entry.
Implementation of the platform has already started in Denmark, with plans on to roll out the solution to other countries later.
Resurs Bank Nordic credit manager Fredrik Ridaeus said: "We found that Provenir outperformed their competitors in the areas where we sought excellence – time to market, functionality, flexibility and technology.
"With the Provenir solution we will be able to consolidate the systems supporting credit decisions across our whole group onto one platform. We forecast significant growth in our transaction volumes in the future and Provenir, as best in class, is central to us achieving this growth."