In the lending industry, speed is everything. Traditional credit decisioning processes involve manual document review, phone calls for income verification, and days of back-and-forth with applicants. For one of our fintech clients, this meant losing qualified borrowers to faster competitors.
The Challenge
Our client, an alternative lending platform, was processing 2,000+ applications monthly but facing a 48-72 hour approval timeline. Their team spent countless hours:
- Manually reviewing bank statements
- Calling employers for income verification
- Cross-referencing credit reports
- Identifying potential fraud patterns