Sells banks, credit unions, fintechs and non-bank lenders a configurable decisioning platform, licensed as cloud software, on which the lender runs its own credit, fraud and identity strategies and models, with third-party data supplied through Provenir's marketplace.
What is Provenir, and which banks use it?
Provenir, founded in 2004 and based in Parsippany, New Jersey, is a privately held, founder-led company selling a cloud decisioning platform for credit risk, fraud and identity decisions. It says 120+ financial services providers in 60+ countries run 4+ billion decisions a year on it. Among our 100 banks, Provenir names SoFi, which it says went live within 10 weeks; its other named bank customers are mostly outside the US. Pricing is not published.
Category
Founded
2004
Headquarters
Parsippany, New Jersey, US
Ownership
Private; founded and led by CEO Larry Smith. Provenir describes itself as a private company (Inc. 5000, 2021) and has not published outside investors, funding rounds or a valuation.[7][5]
Deployment
SaaS (cloud-native; API-first, real-time and batch)
Pricing
Sales-led enterprise software licence (SaaS); not published. · not published
Banks among the 100
1
- Founded in 2004 and headquartered in Parsippany, New Jersey, with offices in London, Singapore, Dubai, São Paulo and Mexico City; founder Larry Smith is CEO.
- Provenir says its platform is used by 120+ financial services providers in 60+ countries and processes 4+ billion decisions a year (vendor-reported, as of September 2026).
- In February 2026 it relaunched the product as a 'Decision Intelligence' platform with agentic AI features, an embedded natural-language assistant, model monitoring, simulation, and pre-integrated OpenAI and Anthropic models through its data marketplace.
- Among our 100 US banks, Provenir's own platform page names SoFi as a customer that went live within 10 weeks at 57% lower cost than anticipated (vendor-reported); no other bank in our set is named by Provenir.
- Its named bank customers are mainly outside the US: BBVA (SME lending), Atom Bank (UK, selected April 2025), Ryt Bank (Malaysia, selected July 2025) and Marginalen Bank (Sweden, a customer since 2017 that moved to Provenir Cloud2 in August 2026).
- Analyst placements it publicizes: 'Strong Performer' in The Forrester Wave: AI Decisioning Platforms, Q2 2025, and Category Leader in two 2026 Chartis RiskTech Quadrants (Enterprise Fraud Solutions and Credit Portfolio Management Solutions).
- Pricing is not published; there is no pricing page and buyers are directed to contact sales.
What does Provenir sell to banks?
| Product | What it does | Status |
|---|---|---|
| Decision Intelligence Platform (Decisioning)[1][15] | Configurable rules, strategies and model deployment for credit risk, onboarding, customer management and collections, with simulation, model monitoring and an embedded AI assistant added in February 2026. | Generally available |
| Data Marketplace[2][15] | Access to 120+ data partners (credit bureaus, alternative and open-banking data, fraud and identity sources) through a single API; extended in 2026 to pre-integrated OpenAI and Anthropic LLMs. | Generally available |
| Provenir AI[9] | Machine-learning models for risk decisioning delivered as SaaS, with explainability and live retraining, introduced in March 2022. | Generally available |
| Onboarding fraud solution[10] | Connects fraud scores, identity checks and device validation from third-party providers inside decisioning workflows to screen applications for synthetic identity, impersonation and mule indicators; launched June 2024. | Generally available |
| Case Management[3] | Case creation from decisioning flows for manual referrals, underwriting exceptions and fraud investigations. | Generally available |
| Provenir Cloud2[17] | The current generation of Provenir's cloud-native platform, to which existing customers such as Marginalen Bank are migrating. | Generally available |
How much does Provenir cost?
How it is charged: Sales-led enterprise software licence (SaaS); not published..
Provenir does not publish a price list.
Pricing is not published; Provenir has no pricing page and sells through sales-led contracts. Its 2022 Provenir AI release describes the SaaS model as having 'zero upfront development costs' but gives no figures.
Which banks use Provenir?
| Bank | What | Status |
|---|---|---|
| SoFi Technologies | Provenir decisioning platform; Provenir says SoFi went live within 10 weeks at 57% lower cost than anticipated (vendor-reported; the use case is not described)[1] | In production |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Provenir or the press. Status is the furthest stage a source confirms.
What is Provenir Decision Intelligence Platform?
A cloud platform that combines decisioning (rules, strategies and model deployment configured by business users), a data marketplace of 120+ partners behind one API, case management and, since February 2026, agentic AI features, an embedded natural-language assistant and pre-integrated access to OpenAI and Anthropic models, including private instances via AWS Bedrock.[1][15]
What has Provenir done, and when?
- Sep 21, 2026
Chartis Category Leader in two quadrants[19]
Provenir is named a Category Leader in the 2026 Chartis RiskTech Quadrants for Enterprise Fraud Solutions and Credit Portfolio Management Solutions.
- Aug 25, 2026
Marginalen Bank moves to Cloud2[17]
Swedish lender Marginalen Bank, a customer since 2017, migrates to Provenir Cloud2 across consumer lending, mortgages, cards and corporate lending.
- Jun 17, 2026
Norlys partnership[16]
Danish energy and telecom group Norlys adopts Provenir's platform for credit decisioning and onboarding fraud controls after acquiring Telia Denmark.
- Feb 13, 2026
Decision Intelligence platform with agentic AI[15]
Provenir launches its Decision Intelligence platform with agentic AI features, an embedded natural-language assistant, model management and simulation, and pre-integrated OpenAI and Anthropic models, including private instances via AWS Bedrock.
- Jan 21, 2026
Lewis Group moves to the cloud[14]
South African retailer Lewis Group, a Provenir customer for 15 years, migrates its credit decisioning to Provenir's cloud platform on AWS.
- Jul 23, 2025
Ryt Bank selects Provenir[13]
Malaysian digital bank Ryt Bank selects the Provenir platform for real-time credit risk assessment on its consumer loans.
- Jul 14, 2025
Forrester Wave placement[12]
Provenir is named a 'Strong Performer' in The Forrester Wave: AI Decisioning Platforms, Q2 2025, which evaluated 15 providers.
- Apr 28, 2025
Atom Bank selects Provenir[11]
UK app-based Atom Bank selects the Provenir platform for credit, fraud and identity decisioning across mortgages, business lending and savings.
- Jun 25, 2024
Onboarding fraud solution[10]
Provenir launches an onboarding fraud solution that brings third-party fraud, identity and device checks into its decisioning workflows.
- Mar 22, 2022
Provenir AI introduced[9]
Provenir introduces Provenir AI, machine-learning models for risk decisioning delivered as SaaS with explainability and live retraining.
- Feb 2, 2022
Reports 2021 growth[8]
Provenir reports a 194% increase in new customers and a 55% increase in SaaS revenue in 2021, a 49% larger workforce and nearly 50 countries served (vendor-reported).
- Aug 17, 2021
Named to the Inc. 5000[7]
Provenir is named to Inc. magazine's list of the fastest-growing private US companies.
- Sep 6, 2005
Navy Federal signs for a loan origination platform[20]
Navy Federal Credit Union signs with Provenir to support a new automated loan origination system across its member service centers.
- Jan 1, 2004
Company founded[6]
Provenir is founded in 2004 (exact date not published) and is headquartered in Parsippany, New Jersey.
What do banks use Provenir for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Credit decisioning and origination[1][17][4] | Banks and lenders configure credit strategies and deploy scoring models on Provenir for consumer, card, mortgage and SME applications. | In production | Credit scoring & underwriting |
| Onboarding fraud and identity screening[10][11] | Fraud scores, identity checks and device validation from third-party providers are orchestrated in the application decision flow. | In production | Fraud detection |
| Adverse-action reason codes[18] | Provenir says its platform supports configurable reason codes and decision logs that help US lenders give ECOA adverse-action reasons, while the lender stays responsible for them. | In production | Fair lending & discrimination |
| Model monitoring and strategy simulation[15] | Model-management and simulation features let risk teams monitor machine-learning models and test strategy changes before release. | In production | Model risk management |
| Agentic decisioning and AI assistant[15] | Agentic decisioning features, a natural-language assistant and access to OpenAI and Anthropic models inside the platform, launched February 2026. | In production | Generative & agentic AI |
What has Provenir disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Customers (vendor-reported) | 120+ financial services providers[1] | Sep 24, 2026 |
| Decision volume (vendor-reported) | 4+ billion decisions a year, in 60+ countries[1] | Sep 24, 2026 |
| Data partners in marketplace (vendor-reported) | 120+[2] | Sep 24, 2026 |
| 2021 growth (vendor-reported) | 194% more new customers; 55% higher SaaS revenue year over year[8] | Dec 31, 2021 |
| SoFi deployment (vendor-reported) | live within 10 weeks at 57% lower cost than anticipated[1] | Sep 24, 2026 |
“AI-enabled decisioning has shifted from differentiator to necessity.”[15]
David Mirfield · Senior Vice President of Product Management, Provenir · Feb 13, 2026
“The customer remains responsible for its lending decisions and legal obligations.”[18]
Claire Hartley · Chief Compliance Officer and Group DPO, Provenir · Sep 7, 2026
“Configurability was emphasized across data, orchestration and analytics, resulting in a highly adaptable solution.”[19]
Philip Mackenzie · Research Principal, Chartis Research · Sep 21, 2026
Who runs Provenir?
Which rules apply to a bank using Provenir?
| Authority | Why it matters here | Documents |
|---|---|---|
| CFPB | A US bank that runs credit strategies or machine-learning models on Provenir must still give specific principal reasons for each decline under ECOA/Regulation B and FCRA key factors when a score is used; Provenir supplies configurable reason codes, but the lender owns their accuracy. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) FCRA adverse action and credit-score disclosures (15 U.S.C. 1681m, 1681g(f)) Regulation B final rule on disparate impact (April 2026) |
| Federal Reserve | Credit and fraud models a bank builds or deploys on Provenir, including Provenir AI models, are models under SR 26-2, so the bank must validate and monitor them; the platform's simulation and monitoring features feed that work but do not replace it. | SR 26-2 |
| OCC | Outsourcing credit and fraud decisioning to a hosted platform is a third-party relationship under OCC Bulletin 2023-17 (due diligence, SOC 2 and ISO 27001 evidence, exit planning), and the models run on it fall under OCC Bulletin 2026-13. | OCC Bulletin 2023-17 OCC Bulletin 2026-13 |
| Colorado AI Act | Colorado's 2026 automated-decision law (effective 2027) requires notice and an explanation of adverse automated decisions for consumers in the state; a bank auto-declining Colorado applicants through Provenir workflows needs those explanations, which its ECOA notice can satisfy. | SB 26-189 |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Provenir?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Performance figures are Provenir's own
Customer counts, decision volumes, growth rates and case-study results (including SoFi's 10-week go-live at 57% lower cost) come from Provenir's website and releases, not from customers' disclosures or independent audits.
02
It is a platform, not a ready-made model
Provenir sells the decisioning environment, data connections and optional models; the bank's own risk team configures strategies and remains responsible for the models it deploys and for adverse-action reasons.
03
Few named US bank customers
Among the 100 largest US banks, only SoFi is named by Provenir. Its public bank references are mostly in the UK, Europe and Asia (Atom Bank, Marginalen Bank, Ryt Bank, BBVA).
04
Pricing is not published
Provenir has no pricing page; contracts are negotiated through sales.
05
Ownership and finances are not disclosed
Provenir is private and founder-led and publishes no revenue, funding or valuation figures, so buyers doing third-party due diligence must request financial information directly.
What are the alternatives to Provenir?
Zest AI
AI credit underwriting for banks and credit unions, plus fraud detection (Zest Protect) and gen-AI lending intelligence (LuLu).
FICO
FICO Platform decisioning and analytics software for origination, account management and fraud (Falcon), plus the FICO Score.
Scienaptic AI
AI credit-decisioning models and platform for consumer lending, mainly US credit unions, with fraud checks and an agentic AI layer (iCUE).
Taktile
Low-code decision engine and AI-agent platform for credit underwriting, onboarding, fraud and AML decisions at lenders and insurers.
How much does Provenir cost?
Provenir does not publish pricing. It sells its cloud decisioning platform through sales-led enterprise contracts, and its website has no pricing page. Its 2022 Provenir AI release describes a software-as-a-service model with 'zero upfront development costs', without figures. Data from marketplace partners such as credit bureaus is typically a further cost the buyer negotiates.
Which US banks use Provenir?
Among the 100 largest US banks tracked on this site, Provenir's own platform page names SoFi, saying it went live within 10 weeks at 57% lower cost than anticipated (vendor-reported; the use case is not described). Provenir's other named bank customers, such as BBVA, Atom Bank, Ryt Bank and Marginalen Bank, are outside the US.
Who owns Provenir?
Provenir is a private company founded in 2004 by Larry Smith, who remains its chief executive. It has not published outside investors, funding rounds or a valuation, and it describes itself as a private US company, for example in its 2021 Inc. 5000 announcement.
Is Provenir an AI model vendor or a decision engine?
Mainly a decision engine. Provenir sells a platform on which a lender configures its own credit, fraud and identity strategies, deploys its own models or Provenir AI models, and pulls data from 120+ partners through one API. Since February 2026 it also offers agentic AI features and an embedded assistant with access to OpenAI and Anthropic models.
Does Provenir help with ECOA adverse-action notices?
Provenir says its platform supports transparent decision logic, configurable reason codes and decision records that help lenders explain outcomes under the Equal Credit Opportunity Act. Its own compliance chief writes that the customer remains responsible for its lending decisions and legal obligations, so the bank must still validate that the reasons are specific and accurate.
Provenir vs Zest AI: what is the difference?
Zest AI builds custom machine-learning underwriting models for each lender, mainly US credit unions and banks. Provenir sells a configurable decisioning platform with data orchestration, fraud screening and case management, on which the lender runs its own strategies and models; its customer base is more international and includes fintechs, retailers and telecom operators.
- One Platform, Every Decision: Risk, Fraud, Case Management, Collections (undated page, retrieved 2026-09-24)
- Data Marketplace | Data Partners (undated page, retrieved 2026-09-24)
- Case Management | Empower Your Team (undated page, retrieved 2026-09-24)
- Our Customers Are Disrupting the Industry (undated page, retrieved 2026-09-24)
- Our Leadership Team (undated page, retrieved 2026-09-24)
- Contact Us (undated page, retrieved 2026-09-24)
- Provenir Named to Inc. Magazine's Annual List of America's Fastest Growing Private Companies
- Provenir Achieves Record Growth in New Customers and Revenue in 2021
- Provenir AI Shrinks the Cost, Complexity and Time-to-Market for Smarter Financial Services Risk Decisioning
- Provenir Launches Onboarding Fraud Solution to Fight Back Against Fraudsters, Minimizing Losses While Safeguarding Customer Experience
- Atom Bank Selects Provenir for Risk Decisioning and Data Orchestration
- Provenir Named a Strong Performer in 2025 AI Decisioning Platforms Report by Independent Research Firm
- Ryt Bank, The World's First AI-Powered Bank, Selects Provenir for AI Risk Decisioning
- Leading South African Furniture Retailer Lewis Group Partners with Provenir to Drive AI Credit Decisioning Transformation in the Cloud
- Provenir Launches Comprehensive Decision Intelligence Platform with New Agentic AI Features to Supercharge Business Performance and Agility
- Provenir Partners with Norlys to Power Next-Generation Credit Decisioning Across Energy and Telecom
- Marginalen Bank Modernises Decisioning Platform with Provenir's Cloud Native Decision Intelligence Platform
- From Regulatory Complexity to Competitive Confidence: How Provenir Supports Responsible Decisioning Across North America
- Provenir Named a Category Leader by Chartis Research in Fraud and Credit Portfolio Management
- Navy FCU To Develop Enterprise-Wide LoanPlatform
When a bank signs with Provenir, you'll read it here first.
when a bank picks an AI vendor, or a vendor ships for banks, it is in the next morning's brief · six sourced stories · 7 am ET · free
plus every tracker, bank and agent page update, the morning after · leave any morning