Project Details

Working closely with Regional Finance, we embarked on a mission to offer an end-to-end, fully digitized loan experience for their valued customers. Through seamless integration with credit profiling, risk analysis, and customer communication services, the final lending platform allows for quick and efficient pre-qualification and approval of customer loans.

By embracing digital transformation, Regional Finance now serves more customers, scales their business, and enhances the overall customer experience by providing accessible loan products on-demand.

Tivix continues to collaborate with Regional Finance on additional phases, fully digitizing the application, qualification, and processing of personal loans. Future developments include a comprehensive customer portal, empowering users to make payments and view payment history, thereby improving their financial health and simplifying the loan renewal process.

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Technology:

In crafting the backend, we employed Django/Python for its speed of development and reliability in production. For the frontend, React was chosen, allowing us to build a highly performant user interface with reusable components. Given the complexity of financial products, we integrated the pre-qualification flow with various third-party systems for credit profiling, risk analysis, and customer communication.

Our DevOps team established a fully automated Continuous Integration/Continuous Delivery pipeline with unit and end-to-end testing, alongside ephemeral environments for each pull request, ensuring a seamless development process.

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Design Philosophy:

At the core of our design philosophy was a focus on delivering a superior customer experience, synonymous with Regional Finance's in-branch offering. Our intuitive user experience design aimed to make it effortless for users to enter their information and select the most suitable loan option. An easy-to-use loan calculator was designed, enabling users to visualize term length, understand APR, and streamline the loan selection process.

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Outcome

The initial rollout of the system began in March 2021, with a soft launch going live in select US states. Regional Finance experienced a significant increase in incoming leads and reduced processing time and costs, as their employees were now able to qualify and approve loans online.

Upon completion of the online customer portal, Regional Finance will gain a significant competitive advantage, offering a seamless customer experience and enabling their employees to focus on servicing existing customers and high-risk loans with utmost attention.