As a non-bank lender, Pepper is always thinking of new ways to finance the ambitions of its customers. Its fresh approach has led to a diversified portfolio of financial services and an increasingly global footprint.
It’s also disrupting the traditional lending approach by taking the entire lending value chain and putting it on a single platform in the cloud. So from loan assessment and origination through to servicing, it’s able to provide a service that’s more personal and efficient.
Neale Kant, Group Chief Information Officer at Pepper said the business was scaling its impact 25% year-on-year and now has offices in Australia, Spain, the UK, Ireland, and South Korea. “We’ve grown strongly through acquisition and increasing our product offering and have a diversified portfolio as a result. With Salesforce, we’re taking it to the next level and offering products and services that are truly unique to our customers’ needs. Salesforce allowed us to leapfrog our technology investments.”
Pepper is not only a go-to lender for those who have been locked out of the financial system, but also those individuals that fit the risk profiles of mainstream financial institutions. Accordingly, Pepper takes a different approach to reviewing applications, balancing technology innovation with human insight.
Today, this process is made easier with a bespoke personal loan product built entirely on the Salesforce platform. The application process incorporates a high degree of straight-through-processing and makes it easy for Pepper and potential borrowers to tick off all the basics like identification checks.
It’s so easy in fact that applications can be completed in as few as 15 minutes and funds deposited inside two hours. However, Pepper has not yet switched on the full functionality, favouring a human touch.
“Typically those who apply for a loan with us want to speak to someone and tell their story. We want to hear them out so we can understand their circumstances and lend more wisely,” said Kant. “At the same time, we’re continuing to fine tune things like credit scoring so we can automate more if we choose to down the line.”