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Decentro Joins Provenir’s Data Marketplace

Decentro-Provenir

Decentro, a full stack API infrastructure platform, has partnered with Provenir, a global leader in AI-powered risk decisioning software, to enable plug-and-play banking integrations for NBFCs, Fintech lenders, and Banks through the Provenir marketplace. Decentro’s partnership with Provenir will deliver ready-made, convenient, and tightly knit API solutions.

The Provenir Marketplace is a comprehensive fintech data and intelligence ecosystem covering the whole customer lifecycle with data types like identification, document verification, open banking, PEPs/sanctions, business data, bureau data, mobile data, email data, device data, social validation, and alternative data covering 350+ behaviors. This data adds value across key areas such as KYC, origination, credit risk, unbanked, and fraud. Users can select from more than 535 country/data/partner combinations through the Provenir Marketplace’s single API to create rich, customized datasets that best meet their needs. With fully maintained API connections to all data providers and a no-code interface, users can connect to new data sources in minutes and test data across their decisioning processes.

Decentro’s comprehensive API suite manages legacy financial integrations at the backend and helps Fintechs and NBFCs reduce the integration time from two months to two days, with a more than 90% reduction in expenditure. It enables 10X faster go-live systems, seamless integration for the Provenir ecosystem, and the fastest API response times (<= 300 milliseconds). Combined with Provenir’s risk decisioning platform, the partnership empowers a full-stack solution that SME players can leverage and plug into their platforms from day 1.

On the partnership announcement, Rohit Taneja, Founder & CEO of Decentro, said, “In today’s digital-first and hyper-connected world, fintech lenders need to ensure effective and accurate risk assessments, as well as a seamless and native experience for customers in every interaction. Our APIs help reduce friction, effort, and time in ensuring all regulatory compliances are met while keeping the customer happy and unperturbed. We are excited to partner with Provenir, one of the global leaders in the credit risk decisioning market, to offer engaging experiences and solutions via their platform.”

The partnership with Decentro is Provenir’s first KYC partnership in India.

Speaking on its partnership  with Decentro, Varun Bhalla, General Manager, Provenir India, said, “At Provenir, we work with innovative small business lenders that are helping drive job creation and economic development by empowering SMEs to grow their operations. We help them deploy sophisticated credit risk models that can be modified in minutes, and provide access to the right data at the right time so they can make the best risk decision. Through our partnership with Decentro, we want to enable faster risk evaluation and KYC norms for the fintech lenders and NBFCs to address the $1.1 trillion credit gap in the SME sector.”

This partnership will especially be significant in Capex and Opex for small and legacy lenders and NBFCs with negligible or small developer bases or tech teams. The partnership will also empower SMEs looking to raise capital but aren’t able to through the traditional banking route by saving 90% of their time, effort, and resources in the long term.

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