Industry
BFSI
Project Type
Financial Services Platform Development
Platform
Web
Country
United States
Duration
6
Team Size
8
Client
Bancr is a U.S.-based company specializing in innovative financial services solutions.
End User
Borrowers and lenders looking for streamlined loan application processes and effective matches based on loan types and geographical expertise.
Problem Statement
Bancr aimed to develop a "financial dating" platform to connect borrowers with lenders. The platform needed to streamline the loan application process and ensure effective matches based on loan types and geographical expertise.
Challenges
- Simplifying the Loan Process: Streamlining the application process for businesses and enabling them to connect with multiple lenders through a single submission.
- Geographical Matching: Ensuring borrowers and lenders are matched based on their geographical area to leverage local expertise.
- Scalability: Supporting the rapid exchange of applications and documents between multiple businesses and lenders with minimal effort.
Our Solutions
We developed a web-based platform that enables businesses to efficiently connect with lenders by answering a few questions and submitting a single application. The system also allows lenders to review applications quickly based on their specific underwriting criteria.
Features
- Loan Matching System: Matched businesses with financial institutions and investors based on specific loan types and geographical proximity.
- Streamlined Application Process: Enabled businesses to submit applications and documents to multiple lenders with ease.
- Lender Onboarding: Simplified the onboarding process for lenders by automating application reviews according to pre-set criteria.
Core Team
- Project Manager: 1
- Backend Developers: 3
- Frontend Developers: 2
- UI/UX Designers: 2
Impact
40% reduction in loan application processing time for businesses.
30% increase in successful lender-borrower matches due to geographic-based pairing.
50% improvement in lender onboarding speed, allowing faster access to potential borrowers.
25% boost in lender engagement with the platform, driven by the simplified and efficient review process.
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