Canadian SME lender
6x faster application processing
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.
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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