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Digital Identity, Security & Online Fraud

Klarna, Provenir to launch credit and fraud risk decisioning project

Wednesday 7 May 2014 | 07:30 AM CET

Sweden-based online retail payments company Klarna has teamed up with Provenir, a credit and loan origination company to launch the credit and fraud risk decisioning project.

Using Provenir’s platform, Klarna will be able to manage and control fraud and credit risk. The Provenir solution provides governance, compliance and risk management automation, integration and processing.

The project implementation in Denmark has been achieved in over four months. The rollout to six more European countries during Phase II is scheduled to be completed by the end of 2014.

Klarna offers payment solutions such as a one-click purchase option for a range of online storefronts across Europe and did USD 200 million in revenue in 2013. It has 15 million users and 15,000 merchants in Sweden, Norway, Denmark, Finland, Germany, the Netherlands and Austria. The company has raised USD 250 million in funding from investors including Sequoia Capital, DST and General Atlantic.
 

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