“Traditional financial institutions are awash with inefficiency and friction because of the way they make decisions and adopt technology. We wanted to be different.”
From day one, Lendified’s management team was determined to rewrite the rules. “Traditional financial institutions are awash with inefficiency and friction because of the way they make decisions and adopt technology,” revealed Wright. “We wanted to be different.”
So from day one, Lendified put Salesforce at the heart of its business. “We could never have launched the business so quickly without Salesforce,” said Wright. “It makes us more agile and more competitive.”
The company selected Salesforce after an extensive buy versus build analysis for its IT infrastructure. “The cloud levels the playing field for new companies; instead of wasting time reinventing the wheel, you can buy an already proven platform that has the capacity to grow with your business,” explained Wright.
Community Cloud powers the eight-step process that enables Lendified and its banking customers to make lending decisions. When a customer registers online for a loan, Community Cloud captures the information, validates the customer, and connects to the loan adjudication engine. The loan decision and repayment terms are provided back to the customer in real time.
In the future when the customer accepts the loan offer, Community Cloud will also initiate the onboarding process, with integrated AppExchange solutions facilitating document generation and signing.
“With Salesforce, we can embed a high degree of automation into every step of the lending cycle, which ensures a rapid response for customers,” explained Wright. Thanks to the velocity and visibility that surrounds its own lending services, Lendified consistently scores nine out of ten on Trustpilot, a consumer feedback community.