Automotive lending platform GoFi taps Provenir for credit risk decisioning
GoFi, a US consumer automotive financing provider, has formed a new partnership with London-based risk decisioning software provider Provenir to better assess credit risks in its loan approval process.
GoFi signs for Provenir’s Data and Decisioning Platform
Describing itself as “an AI-centric, digital-first lending platform”, GoFi leverages a proprietary loan origination system and machine learning algorithms to provide auto-decisioned responses to customers looking for car loans.
To support its services, the Texas-headquartered company has now selected and implemented Provenir’s Data and Decisioning Platform.
The platform claims to provide a range of different functions to support the credit decisioning process, including universal access to data, embedded analytics and “sophisticated” decisioning technology.
According to GoFi, its selection of the platform was driven by a desire to “allow our business users to take the reins”, as the platform’s flexibility and customisation options enable GoFi to integrate with many different platforms.
“We have been able to implement a fully customisable solution that meets our business needs with the vast majority of the implementation being done by our business users,” comments Daniel Garland, senior director of GoFi.
Kathy Stares, EVP of North America for Provenir, adds: “Provenir’s data and decisioning capabilities enable our auto financing clients to respond on-the-fly to changing market dynamics and deliver real-time insights to inform smarter decisions.”
