Lendingtree is a Trailblazer

Now, we not only have a view of the consumer, we have a view of all the offers available, so we can guide them to the lender that’s the best fit.”

Tim Stacey | VP of Contact Center
1,076 employees
Salesforce customer since 2012


reduction in average support call time


No customers are left behind as LendingTree scales skyward.

Financial brokers are used to navigating competing interests. Keeping vendor partners happy while ensuring consumers get the best possible product is their specialty. But as online loan marketplace LendingTree grew, it realized its split clientele wasn’t the only thing pulling the business in two directions.

LendingTree’s service team helps consumers find the right financial products. Its sales team helps 500 partner vendors find those consumers. But the two teams — working out of systems that didn’t talk to each other — were too busy tracking customer issues to focus on generating revenue. “We became much more reactive than proactive,” said Jason Stefanacci, Director, Business Enablement, LendingTree. The company turned to Salesforce to help flip that dynamic.

LendingTree is a Trailblazer in consumer-driven financial services.

LendingTree is a marketplace for money: a one-stop shop for everything from credit cards to car loans and mortgages.

The company’s personalized service helps consumers navigate competing offerings to find a financial product tailored to their needs. Partner vendors appreciate this concierge-like approach — when LendingTree brings them a lead, it’s going to be a suitable one. The success of its model means LendingTree is scaling fast. In fact, it acquired four companies in 2018 alone. Salesforce is helping the company scale — without the growing pains.


A 360-degree view means no lost leads.

“Before, the service team would get a call, then have to search for the consumer in our on-premise customer relationship management system, and log it in that system. This process resulted in a lot of lost leads,” said Stefanacci. With Service Cloud, the caller’s profile — sourced from over 8 million customer records — appears immediately. “The service team can now directly ‘warm transfer’ leads to our partner vendors. We have not only reduced lost leads but also duplication,” he added.

Using MuleSoft to integrate additional customer information housed in third-party systems, Salesforce gave LendingTree’s service representatives a holistic picture of their customers.“With the combined power of MuleSoft and Salesforce Service Cloud, we have a complete view of our customers’ history and the offers available to them from the moment they call. This enables us to provide a highly personalized experience,” said Tim Stacey, VP of Contact Center.

In one screening call, LendingTree can vet consumers and transfer them directly to a suitable lender. “That wasn’t possible to even think of before,” Stefanacci said. When LendingTree started using Service Cloud, average call times fell 28% — 50% for Do Not Call requests ­­­— saving the company $145,000 annually. Now, the service team can focus on guiding callers through the loan process and pairing them with the right lenders.

“We feel like having a human at the other end of our interaction is a differentiator, while incorporating different levels of automation — depending on the type of product — to make that interaction more seamless,” said Stacey.


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Automation lets the sales team focus on selling.

“We built Sales Cloud around our sales team. We said, ‘Just tell me how you do your job and what would make it better,’” said Stefanacci. LendingTree’s sales team was spending 75% of its time handing lender service requests. For example, a vendor would call for a copy of an invoice. The sales team would have to email the request to the accounting team, wait for response, receive the invoice copy, and email it to the vendor. “With Sales Cloud, we were able to build an automated case management system that routes requests directly to the right team, such as accounting or legal. The sales team can now spend more time growing accounts than chasing service requests,” he said.

Meanwhile, Einstein Activity Capture automates the sales team’s data tracking, streamlining and improving activity reporting. With Salesforce, LendingTree’s sales and customer service departments can work together to source consumer insights. As a result, LendingTree has increased the data points it can report on by a factor of 3.5.

In addition, using Salesforce Community Cloud, the company has introduced self-service communities for both consumers and vendors. This not only saves time for LendingTree staff members, but it also enables the company to share leads directly with vendors.

“We’re trying to help empower our partners to help engage our customers on the channels that we know consumers are asking for — and that is our digital engagement suite — live chat, SMS, social, and automation,” said Stacey.

Self-service lets vendors tailor their products to the market.

The split between service and sales at LendingTree wasn’t just impeding the staff’s productivity, it was also frustrating vendors. Sales Cloud and Service Cloud were capturing rich consumer data, but vendors couldn’t access the data. By integrating vendors’ Salesforce accounts, LendingTree’s Salesforce account, and other third-party data systems, the MuleSoft Anypoint Platform was able to unlock this data.

Now, vendors can see directly into the consumer pipeline and access leads in real time, without having to wait for the sales team to do it for them. “Vendors can see their leads coming in real time. They can update their information in real time. We’ve seen stronger relationships with our clients because of [Salesforce] communities. It’s amazing how many of our partners are also on the Salesforce Platform. We’re all sharing the same information and creating different opportunities out of it.”

For example, the company is creating a leads application, which enables more direct integration between its lead generation engines and its lending partners that use Salesforce.

In addition, LendingTree has built a new supplier community. This self-service portal allows the company’s suppliers to get visibility into their invoices and payments, saving the accounting team from having to track down and respond to “where are my payments” emails.


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