Provenir, a global provider of AI risk decisioning software, has announced its partnership with Ryt Bank, an AI-powered digital bank, to enhance consumer lending through faster credit decisions and personalized offers.
Ryt Bank, a newly licensed digital bank, sought a solution to rapidly launch a consumer lending product that aligned with its AI-first strategy. The objective was to establish a decisioning infrastructure capable of delivering instant, personalized loan approvals while ensuring adherence to regulatory standards and risk management best practices.
The bank selected Provenir’s AI Decisioning Platform to support real-time credit risk assessment for instant loan approvals. The platform’s capabilities also include surfacing data insights for personalized loan offers, driven by AI-powered customer profiling. Furthermore, Provenir will facilitate automated compliance checks to meet regulatory requirements and provide continuous learning models to adapt to evolving market dynamics. This collaboration aims to deliver fast and accurate decisions, thereby elevating the customer experience and supporting Ryt Bank’s mission to provide smarter, faster finance for Malaysians.
Kavinesswaran Karthigasan, Head of APAC at Provenir, stated, “Ryt Bank is taking digital banking to a new level with its AI-first approach and we are excited to be a part of its journey. Our AI Decisioning Platform will provide the foundation for Ryt Bank to help reach its business goals via AI-driven decisioning that meets customer expectations for near instant approvals and highly personalized digital interactions.”
Provenir specializes in AI risk decisioning software, assisting banks, fintechs, and financial services providers in making informed risk decisions. Its AI Decisioning Platform integrates decisioning, data, and decision intelligence to enable smarter outcomes across the customer lifecycle, contributing to improved customer experience, fraud prevention, financial services access, and business agility. Provenir operates with financial services organizations in over 60 countries, processing more than 4 billion transactions annually.
