Our digital platform curates personalized lending journeys in real-time
Introducing Dynamic Journeys
The PrinSIX platform changes the paradigm, reversing the relationship between the application journey and the analytics. No longer is a fixed journey collecting the same data for everyone, with a one way hand off to a decision engine. With PrinSIX, the analytics controls every step of the customer journey, in real time.
The journey develops dynamically...
The journey develops dynamically, as an applicant’s circumstances are more understood. This ensures that any signs of vulnerability are fully explored. It also ensures customers are only asked the questions required for their specific circumstances, making the application as concise as possible.
A range of tools deliver unique behavioral insights...
A range of tools deliver unique behavioural insights, granular tracking, predictive outcomes, risk controls and commercial controls. These transform a lender’s ability to deliver both good customer outcomes and good commercial outcomes.
Our solution works with a lender's decisioning platform...
Our solution works with a lender’s existing decisioning platform, or provide all decisioning requirements independently. All decisioning components can be managed by a lender’s in-house credit risk department. Equally, some or all decision models can be provided and monitored by PrinSIX’s highly experienced decision science team.
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Analytically driven customer journeys deliver the best outcome for borrowers, profitably for lenders
Lenders want to maximize customer experience and lending while minimizing cost and risk; with a major concern being regulatory compliance – an existential threat.
To achieve these outcomes, lenders seek to improve their applications process but there is no complete onboarding solution today that satisfies the needs of lenders, regulators and customers fully and simultaneously. The present state-of-the-art is to create hard-coded ‘routes to lending’ linked to a decision engine that executes analytical decisioning. However, these technology constructs do not tailor customer journeys based on individual circumstances.
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Flexible, highly targeted, journeys that continually improve.
Valuable new insights to support better decisions for financial services firms.
Maximizes the number of applicants who become borrowers.
Compliance controls deliver risk appetite, commercial controls deliver profitability.
Journey elements are configured, not coded. A universal API layer allows connections to any third party service.
The four pillars of the platform are:
Dynamic questioning decides what needs to be asked as a lender’s understanding of an applicant grows
Tracking applicants’ every click, field entry, validation and page change through the application journey
Predicting future lender and borrower outcomes to support better management decisions
Highly adaptable journeys continually optimised through proprietary tracking without the need for IT development
Leveraging the advantages of Open Banking means having the ability in onboarding orchestration to fully leverage known data in the digital ecosystem. To do that, your business needs to be able to personalise every digital onboarding journey without necessitating an increase in processing costs. PrinSIX serves the diversity in your buying audience while cutting (not growing) back-office costs. Unlike ‘if/then’ programmed workflows, we employ dynamic decisioning to make each journey ‘as short as it can be, as long as it needs to be’ to achieve the best outcome.
Digital Platform Advantages
As a recent EY report on platform-based banking puts it—“In the digital economy, you can become a driver without owning a taxi, a hotelier without owning a hotel, or a bookseller without owning a bookstore.” Our digital platforms accelerate innovations by empowering businesses to enhance their customer facing apps with ready-to-play onboarding (leveraging our integrations with Open Banking, back-office systems, credit agencies, etc.) bringing instant value without placing fresh demands on in-house digital teams.
Platform business success stories like Airbnb, Uber and Just Eat show just how much digital consumers value simplified integration made possible by digital platforms. With a user-friendly interface and easy navigation, app users benefit from fulfilling their needs in faster and more efficient ways. When it comes to customer onboarding, you only need one digital platform, so choose the best. PrinSIX gives financial services providers, utilities, and other consumer facing organisations first mover advantage by supplying instant access to the high quality personalised onboarding experience now demanded by customers and regulators.
Secure Onboarding Experience
Keeping data safe is a prime commercial obligation of every business. At PrinSIX, we understand the importance of data security which is why we practice ‘Information Security by Design.’ PrinSIX adopted ISO27001 certified standards at an early stage in its evolution so our clients can rest easy that their data, and that of their customers, is in safe hands. To learn more about our security approach and protocols, please request our Information Security White Paper.