Prism Data Joins Provenir Marketplace to Help Lenders Harness Open Banking Data

Prism’s market-leading suite of cash flow underwriting and data analytics products will be available through the Provenir Marketplace

Prism Data announced that it is partnering with Provenir, a global leader in data and AI-powered risk decisioning software, to make Prism’s market-leading suite of cash flow underwriting and data analytics products –including the CashScore and Insights– available through the Provenir Marketplace.

Prism’s products give clients an analytical edge, enabling them to analyze financial transaction data and derive insights and scores they need to more deeply understand a consumer’s current financial position, key trends, and risk profile. These products offer a much more complete and accurate snapshot of a consumer’s current financial status than is possible relying solely on traditional credit data information.

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Now, Provenir clients can quickly integrate Prism’s CashScore and other products into their credit decisioning process, enabling them to more accurately predict credit default risk (including for customers with thin files or no score at all), more easily detect first-party fraud, and better manage risk across their existing portfolios. Clients can use Prism’s infrastructure and analytics to make more informed credit decisions when people apply for credit cards, loans and other financial products.

The Provenir Marketplace is a comprehensive fintech data ecosystem covering the entire customer lifecycle, offering access to a wide variety of data that lenders, fintechs and financial institutions can use to enhance such areas as KYC, origination, credit risk, financial inclusion and fraud.

The Provenir Marketplace makes it easy for any client to create rich, customized datasets tailored to their unique needs, all accessible via a single API. With fully maintained integrations to all data providers and a low/no-code interface, Provenir users can easily connect to new data sources in minutes and test data across their decisioning processes. The Provenir Marketplace now offers data from more than 100 partners, covering a wide spectrum of data types, including identification, document verification, open banking, PEPs/sanctions, bureau data, mobile data, email data, device data, social validation, and many other forms of alternative data.

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“Provenir Marketplace represents a powerful new distribution channel for Prism,” said Erin Allard, Prism Data’s General Manager. “We want to meet lenders where they are and offer more choices in where they access Prism products. Provenir Marketplace offers companies a way to easily integrate Prism’s analytics into the mix of data driving their decisioning process.”

“We are thrilled to welcome Prism Data and its innovative products to the Provenir Marketplace,” said Geoff Miller, Chief Commercial Officer for Provenir. “Prism Data’s solutions provide financial services organizations with greater certainty and accuracy in their credit risk decision-making. That is perfectly aligned with Provenir’s commitment to offering lenders access to the most comprehensive and useful data solutions.”

Prism’s suite of products provides the infrastructure clients need to benefit from open banking:

• CashScore, Prism’s proprietary cash-flow based credit score illuminates an applicant’s true credit and fraud risk based on their larger financial picture.
• Insights, including thousands of trended features and attributes, provide lenders with essential consumer financial metrics, including details on income stability and timing, balance trajectories, savings rates, rental payments, use of emerging forms of borrowing like Buy Now, Pay Later (BNPL) loans and much more. This information is vital to understanding a consumer’s current financial condition and ability to repay, but missing from traditional credit reports.