To stay ahead in the competitive lending environment, 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 with its legacy core system, and decided to upgrade to a more flexible front-to- back lending platform.
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. The HES platform empowers the company to streamline its lending workflows and activities by integrating a variety of third-party services and automating a number of manual administrative tasks.
Customer base growth
Faster application processing
Scalable commercial lending platform with rich functionality
Since deploying the HES Lending Platform, the company has achieved greater efficiency and automated mission-critical processes. With a robust, scalable lending platform, the Canadian lender reduced application processing from 24 to 4 hours, and quickly introduced a new product — merchant cash advance.
After the product launch, the lender continued working with HES FinTech to support the existing system and create new business lines.