Fintech, zCase Study

6x Increase in Customer Engagement for an Independent Loan Management System Service Provider

January 19, 2021

The client offers a Unified Credit Management Platform for efficient application, approval & underwriting to leading financial institutions.

The client offers a Unified Credit Management Platform for efficient application, approval & underwriting to leading financial institutions.

Business Needs Addressed

The client wanted to upgrade its platform to make it more flexible and intuitive – to meet customers’ expectations. In addition, they were looking to streamline internal operations through the new platform ensuring that the platform promoted information sharing, usage methods, and operating rules within teams.

Trantor Solution

Trantor combined its deep experience working in the finance domain with its expertise in Apache Camel, Java, Spring, Oracle and Hibernate to create a customized automated solution for the client.

Objective

Upgrade existing platform to create a robust, automated platform with an intuitive interface and easy-to-understand features that would streamline client’s credit management services.

Project Goals

  • Streamlining data to decrease time to market
  • Adding new functionalities and rolling out new asset classes
  • Refurbishing the infrastructure for a more scalable architecture

Business Matters

The client is now a completely automated platform, addressing critical client requirements with ease, leading to a 60% increase in business speed.

The Problem

The client wanted to migrate to an upgraded, automated platform that would enhance the user experience, resulting in increased user engagement.

The existing platform was time-consuming and nonintuitive, frustrating a lot of users.

  • No centralized, real-time view of the collateral was available
  • The current system was redundant requiring data duplication, which was time-intensive
  • Maintaining compliance requirements had become a challenge
  • Couldn’t cater to multiple concurrent users, either on the frontend or the backend

The client knew that they needed to upgrade their platform before they lost business to savvy fintech startups. However, the Client also feared that

  • The slow rollout of new functionality/asset classes would hinder smooth migration
  • Vital data may get lost during migration
  • Existing customers may get poor user experience and may drop out

The Solution

Trantor team carried out extensive research, including an in-depth study of the client’s competitors and customers to understand what unique features could be added to the platform. Highlights of the solution include:

  • Trantor started by applied expertise to customize Salesforce. Java API was created to amalgamate all leads from different partners under one platform.
  • Risk modeling APIs were used for robust fraud detection.
  • Enhanced credit scoring, pricing, and business rules engines
  • Integrated third-party services like Yodlee, Credit Bureaus
  • Upgraded framework & performed data migration
  • Applied ServiceMix, Fuse, OSGI, and XML/XSD/XSLT for creating a centralized automation solution

The Benefits

  • Enhanced customer engagement by 6x
  • 90% increase in platform user rate
  • Business speed increased by 60%
  • Improved portfolio management

Next Steps

If you want to discover more about Trantor Inc. Services, Please Contact sales@trantorinc.com.

The Client

  • The development team at Trantor translated our business need into a robust functional platform. And [they] worked hand-in-hand with our team, guiding them throughout the migration making the entire process as seamless as it gets. We are totally impressed by their expertise in the finance domain.
    Senior Product Manager
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