Our client is a global online small business lending company that has provided over $12 billion
in loans to non-banking customers in 700 different industries across the United States, Canada
and Australia.
4 mo.
Time-to-market
+20%
Customer base growth
6x
Faster application processing
Challenge
Commercial lending powered by effective software
Lenders must remain up-to-date with the latest technologies and enhance their product offerings.
The company found it complicated to adapt to new requirements because of its legacy core system,
and decided to upgrade to a more flexible front-to-back-end lending platform.
Approach
Introduction of multi-faceted updates
The project was divided into two stages: transformation of the current platform to ensure that
mission-critical operations run smoothly, and extension of functionality with new global
components. HES LoanBox empowers the company to streamline its lending workflows and activities
by integrating a variety of third-party services and automating a number of manually
administrated tasks.
Result
Scalable commercial lending platform with rich functionality
Since deploying HES LoanBox, the company has achieved greater efficiency and automated
mission-critical processes. With a scalable lending platform, the Canadian lender reduced
application processing from 24 hours to 4 hours, and quickly introduced a new product — merchant
cash advance.
Application
Onboarding
Contracts
After the launch of HES LoanBox, the lender continued working with HES FinTech to support the
existing system and create new business lines.
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