Partner Article

Provenir launches new version of Prism

Provenir, the risk decisioning solutions provider, has announced its latest enhancements to Prism, the complete lending solution for small business and commercial lenders. Prism helps financial services organisations improve their productivity through streamlined, automated processes. Its innovative policy updating capability empowers lenders to adapt their risk decisioning as needs dictate.

The latest enhancements include updates to documentation management, flexible workflows and a user interface that clearly shows credit and loan status to help lenders process applications swiftly and compliantly.

“Lenders need to deliver a good customer experience to compete in an industry where new market entrants are constantly challenging for their business,” says Jeff Oulton, Provenir’s President and Chief Operating Officer. “This means looking at the processes and systems they use, questioning how their credit and loan application processing can be more efficient, and improving the way they complete tasks to raise productivity.”

Enhancements to Prism’s user interface make filtering data simple so lenders can view the status of applications in progress, and more readily take action at each stage of the process. Supporting the due diligence required throughout lending assessments, Prism captures information from the data sources provided in support of applications and prompts for verifying actions to be taken, providing an audit trail of what was done and when. The latest developments in Prism also take individual product requests contained in multi-product applications through appropriate workstreams, so that the rapid processing of less complex applications can progress.

“As economies recover we see an increase in the volume and complexity of loan applications,” adds Oulton. “Businesses apply for multiple products at any one time and lenders want to be able to respond efficiently to them. These latest workflow enhancements to Prism help institutions with risk decisioning by product so customer needs can be met as quickly as possible, enabling them to get on with their own business.”

Prism provides a complete commercial and SME lending solution for credit and loan origination, credit risk decisioning, financial analysis and risk rating and portfolio management. Consolidating information and data from multiple sources to deliver end-to-end straight through processing, Prism automatically assigns and monitors the numerous tasks required for sound credit decisioning through a user-friendly client interface.

This was posted in Bdaily's Members' News section by Provenir .