A loan decision in minutes, not weeks
A lending portal for a non-bank financial institution: application, document capture, scoring and an audit trail a regulator can read.
- Client
- Nexfin
- Year
- 2023
- Services
- Web applications · Product design & branding
- Outcome
- Median approval in 9 minutes
The problem
Applications arrived as scanned PDFs by email. Documents went missing, the same customer was assessed twice by different officers, and nobody could reconstruct why a decision had been made.
What we did
- 01One application record with every document, note and decision attached to it, and nothing deletable.
- 02Document capture from a phone camera, with checks that catch an unreadable scan while the customer is still there.
- 03A scoring step that shows its working, so an officer can see which rule pushed an application over the line.
- 04A full audit trail exported in the format the regulator asks for, generated rather than assembled by hand.
The results
- Median time to decision
- 9 min
- Applications with a full trail
- 100%
- Documents re-requested
- −81%
