Provenir, a global leader in data and AI-powered risk decisioning software, today congratulated its customer B Generous for being recognized as a finalist in the “PayTech for Good” category of the PayTech Awards 2023.
The PayTech Awards celebrate and recognize outstanding achievements in the use of technology in the finance and payment industry worldwide. The “PayTech for Good” category recognizes technology providers that actively put the wider community first and demonstrate the values of connection, collaboration, and generosity above and beyond the usual confines of business goals.
A B2B2C fintech company and fully licensed U.S. loan broker and loan servicer, B Generous created the world’s first philanthropic credit product, allowing donors to Donate Now, Pay Later (DNPL), financing their donation over time without having to pay anything out-of-pocket at the point of donation. Donors get the full tax deduction and the nonprofit receives the full funds immediately, while the donor gains flexibility to pay over 3, 6 or 9 months with no interest or fees. DNPL fundamentally solves the liquidity problem for nonprofits, without putting pressure on donors’ finances, allowing people to give what they want, not merely what they feel constrained to give.
With the opportunity to pay over time, 82 percent of donors double their donation — a number rising to 89 percent among donors giving $1,000 or more. B Generous donors give $460 on average – 3.5x more than the average charitable donation of $128.
A key element of B Generous’s offering is near-real time credit decisioning, powered by the Provenir Data and AI-Powered Risk Decisioning Platform, which offers a streamlined single point of access to myriad bureaus and data sources for more accurate credit decisioning.
“Provenir congratulates B Generous for being recognized as a distinguished finalist in this year’s PayTech Awards,” said Kathy Stares, Provenir’s Executive Vice President for North America. “We are proud to support B Generous’s innovation in transcending the liquidity problem for nonprofits, while easing the pressure on donors’ finances.”
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