A global survey by Provenir—a leader in AI-powered decisioning solutions—has revealed that nearly 50% of senior financial services executives are still challenged by managing credit risk and preventing fraud. The findings underscore a growing need for modernization, particularly as artificial intelligence continues to play a larger role in 2025 and beyond.
Conducted between November and December 2024, the survey gathered insights from close to 200 senior decision-makers across financial institutions in North America, EMEA, Latin America, and Asia Pacific. Respondents held management-level or higher roles, including directors, VPs, and executives.
The research explored how financial organizations are tackling risk decisioning and fraud mitigation, their top investment priorities, and how AI is transforming processes throughout the customer lifecycle.
Key Highlights from the Survey:
- AI and Investment Priorities: Over 50% of respondents plan to invest in risk decisioning and AI/embedded intelligence solutions in the coming year. However, nearly 60% still face challenges in deploying and maintaining effective risk models.
- Strategic Role of AI: More than half (55%) acknowledge AI’s value in driving smarter, strategic decisions through intelligent recommendations. A similar number (53%) see AI’s potential to auto-refine models, boosting accuracy and decision quality.
- Primary Business Goals: Real-time, event-driven decisioning emerged as the top goal (65%) for customer and account management teams, followed by reducing friction across the customer lifecycle (44%) and increasing customer lifetime value (44%).
- Data Integration Barriers: Over 50% cited difficulties integrating multiple data sources into their decisioning processes. The use of multiple systems is creating additional hurdles—59% report issues with unified insights and data flow, while 52% point to operational inefficiencies. Additionally, 28% noted that inconsistent customer experiences are a byproduct of these challenges.
- Fraud Prevention Shortfalls: More than one-third (37%) of executives struggle with effective data orchestration for application fraud prevention, especially when adopting new data sources. Meanwhile, 36% face issues leveraging AI and machine learning in fraud detection. Nearly 1 in 3 emphasized the need to break down silos between fraud and credit risk teams for a unified prevention strategy.
“Financial institutions are keenly aware of today’s increasingly complex threat landscape and must adopt new approaches for improved risk decisioning and fraud prevention across the customer lifecycle while providing frictionless and personalized customer experiences,” said Carol Hamilton, Chief Product Officer at Provenir. “With an AI decisioning platform more closely aligning credit and fraud risk teams, financial services executives can ensure holistic, end-to-end decisioning with a complete view of customers across the entire lifecycle.”
About Provenir
Provenir helps banks, fintechs, and financial services providers unlock the secret to smarter risk decisioning.
Provenir’s AI Decisioning Platform brings together the power of decisioning, data, and decision intelligence to drive smarter decisions. This unique offering gives organizations the ability to power decisioning innovation across the full customer lifecycle, driving improvements in the customer experience, best-in-class fraud prevention, access to financial services, business agility, and more.