Smart Finance Case Study
Online PayDay Loan Platform

CashU by Smart Finance

A highly functional platform for a large microfinance company offering instant payday loans 24/7
Challenge
Smart Finance was searching for a new reliable financial software vendor, able to provide end-to-end development of an online lending platform. The company decided to change its technical partner due to a prolonged time-to-market and lack of opportunity to work with the source code.
Along with the fast product launch, the key task for HES FinTech was to build an outstanding user experience, fast and seamless client onboarding, automated scoring and approval, issuing a loan for approved customers in a few hours. The project started at the very beginning of the pandemic, which was an additional challenge for everyone.
Approach
The business analysts collected a set of requirements and to plan out a platform, which automates most operations in payday loan origination by leveraging сredit scoring algorithms. It helped in creating fast and seamless client onboarding, automated scoring and approval, issuing a loan in a few hours.
Smart Finance was planning to grant loans solely online without brick-and-mortar offices. HES engineering team implemented a full-fledged solution based on HES Core: from back-office architecture to the core logic, and front-end UI/UX design.
Result
The delivered solution is an online PDL platform that analyzes data in real-time and automatically grants loans to approved borrowers in less than a minute. The system picks up verified applications once in a few minutes and prepares the payment. Due to integrations with providers, approved customers receive money in several hours.
It was a successful solution to launch the MVP in a couple of weeks. Afterward, the functionality was gradually expanded and improved with the relevant use cases in mind.
CashU Dashboard

The active development stage took 4 months in total. The implementation of the Camunda Workflow and Decision Automation Platform allowed the customer to improve risk management workflow by testing the hypotheses in real-time. It helps to significantly cut expenses and optimize the business process.

CashU Create New Product

COVID-19 added challenges and limitations to the project work, but added value to the result. The project team managed to meet the deadlines and successfully deliver a solution that allows end-customers to stay home and get loans anytime.

We keep going: the Smart Finance team is full of ideas about new financial products and building a more personalized customer experience. While the HES FinTech team is moving on to the new page of a successful collaboration with Smart Finance.

“HES allowed us to automate the entire lending process as efficiently as possible: from tracking leads and submitting applications, to working with overdue debts. Also, thanks to the technological solutions of the HES team, we were able to significantly improve the customer experience and create a stable competitive advantage.”
Aliya Akchurina, CEO at Smart Finance