Provenir: UK Firms Face Growing Credit Risk as AI Gains Pace
Global financial institutions are encountering difficulties in managing credit risk and fraud prevention, with nearly half of executives reporting challenges in these core operational areas, according to research from Provenir, a provider of AI-powered risk decisioning infrastructure.
The survey of 200 financial services decision-makers reveals that 60% of organisations face obstacles in deploying and maintaining risk decisioning modelsâautomated systems that evaluate credit applications and assess fraud risk in real-time.
AI investment gains momentum
Financial services organisations are responding to these challenges by increasing their technology investments.
More than half of surveyed firms plan to direct funds toward risk-decisioning solutions and artificial intelligence in 2025, with 55% of executives citing AI's value in streamlining strategy decisions.
The research highlights that 65% of respondents prioritise real-time, event-driven decisioningâautomated decisions triggered by specific customer actions or eventsâas a key focus area for account management.
Additionally, 44% of organisations identify both eliminating friction across the customer lifecycle and increasing customer lifetime value as priorities.
“Financial institutions are keenly aware of today's increasingly complex threat landscape and must adopt new approaches for improved risk decisioning and fraud prevention across the customer lifecycle while providing frictionless and personalised customer experiences”
Data integration and fraud prevention
Integration of data sources into decisioning processes emerged as the primary technical challenge, with over half of respondents reporting difficulties.
This integration challenge has led to 59% of organisations experiencing disrupted data flow between systems, while 52% report it creates operational inefficiencies. Furthermore, 28% indicate it affects customer experience consistency.
In fraud prevention, 37% of organisations struggle with data orchestrationâthe coordination and management of data from multiple sourcesâspecifically citing difficulties in incorporating new data sources into their fraud detection systems.
Additionally, 36% face challenges in implementing AI and machine learning for fraud prevention.
Nearly one-third of respondents emphasise that comprehensive fraud strategies require improved data sharing between fraud and credit risk teams, highlighting the need to break down departmental data silos.
Carol Hamilton, Chief Product Officer at Provenir, says: “Financial institutions are keenly aware of today's increasingly complex threat landscape and must adopt new approaches for improved risk decisioning and fraud prevention across the customer lifecycle while providing frictionless and personalised customer experiences.”
The research, conducted across North America, EMEA, Latin America and Asia Pacific, gathered responses from managers, directors and vice presidents during November and December 2024.
Exploring Provenir
Provenir provides an AI-powered risk decisioning platform that enables banks, financial technology firms and financial services providers to automate their decision-making processes.
The company operates in more than 50 countries and processes over 4 billion transactions annually.
The organisation's platform combines three core components: data integration, artificial intelligence, and decisioning capabilities.
This infrastructure supports risk assessment across the full customer lifecycle, from initial onboarding through to ongoing account management and fraud prevention.
A key feature of Provenir's offering is its Data Marketplace, which connects to more than 120 global data providers.
The platform utilises low-code technology—programming tools that require minimal technical expertise—to enable financial institutions to adjust their decisioning processes without extensive development resources.
The company's system processes credit applications, conducts fraud assessments, and manages risk decisioning through a unified platform.
This integration aims to reduce the operational challenges highlighted in the survey, particularly around data orchestration and model deployment.
While maintaining a broad international presence, Provenir focuses on serving organisations that aim to modernise their approach to risk assessment and customer experience in financial services.
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