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How Klarna is Increasing Agility with Credit Risk Analytics
Klarna offers payment solutions to e-stores in Europe and North America to simplify the buying experience. Klarna provides payment after delivery, assuming the credit and fraud risk so that sellers can be sure they will be paid. The challenge was to replace a legacy system with a core platform for business rules management and real-time credit risk analytics and decisioning that would effectively support their status as one of the fastest growing companies in Europe.
Use Case: Buy Now Pay Later
About Klarna: Klarna is the leading global payments and shopping service. www.klarna.com
Provenir Solution: Decisioning Cloud
The Provenir Decisioning Cloud was used to develop customer onboarding, merchant onboarding and due diligence applications. These applications accept data from external system front-ends, perform the risk analytics and decisioning according to the rules established by Klarna in the Provenir platform, and return a response to the customer or merchant instantly. Customer onboarding was configured to process hundreds of transactions per second to support rapid business growth without compromising the control and accuracy of the operations. Klarna gained greater marketplace agility by replacing a legacy system with the Provenir Decisioning Cloud. The new platform facilitated a rapid multi-country rollout with application reusability and easy integration to existing systems.
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