Key Challenge – Data Access SMEs generate a huge amount of data, from financial data like tax returns and accounting documents to alternative data like transaction information and online reviews. But accessing and using that data was reported as a challenge for over half of respondents.
An almost equal number of respondents reported challenges around internal and external data source integrations. Delays integrating data into application decisioning processes causes a number of problems for lenders. 1. It makes it difficult to automate approvals, as data needs to be manually collected. 2. It limits the ability to use advanced analytics tools to manage risk. 3. It slows down approvals, increasing the risk of customers turning to alternative lenders, and reduces growth opportunity. Implementing technology that simplifies and speeds up integration to new data sources is vital to business success. “
85 87 89 91 93 95 97 99
Data Source Integration - External
Data Source Integration - Internal
“The flexibility of Provenir allows us to create our own risk decisioning workflows that can easily connect with any data source.”
” Andy Dodd, Managing Director Hitachi Capital Invoice Finance
5
Made with FlippingBook Digital Publishing Software