FinTech for SMBs
About
OBJECTIVES
Develop a solution that implements all the algorithms of the credit issuance process and tracks the realization of the payments and credit obligations.
CHALLENGE
Our Client is an agile Fintech company that reached out to CPCS with a request to build a platform that qualifies SMBs’ owners for investment opportunities. The main technical requirement was to implement the company’s know-how algorithms of prequalifying SMBs, analyzing interest rates and investment terms. We were also asked to develop additional flows to ensure automatic cash flows and repayments control, as well as to track and resolve unsolicited statuses of loan applications.
SOLUTION
To implement all the proprietary algorithms, configure the system’s communication channels, and to incorporate additional logic that automates the work of the Clients’ analysts, we came up with a solution to apply Microservice architecture. Structuring the Client’s system as a collection of services ensured independent deployments and organization of different blocks around narrow business processes, which in turn can be translated as a highly secure and efficient solution.
Speaking blocks’ capabilities, here is an example. Recap is the system’s block that operates an extensive database and ensures the system communicates with end users via emails of different types. Machine learning algorithms are applied to generate relevant correspondence with both creditors, loan applicants, and successful credit borrowers. The block is quite an autonomous part of the system now.
Just before we automated the Client’s business workflows with the system, the process looked like that: an individual applicant submitted their request, the analytical team experts were analyzing the application, then they were to trigger the credit evaluation process manually, proceed with relevant cashflows and support communication, etc. All these steps are automated now. Which is another reason why the Client’s business is rapidly growing due to our cooperation and the business digitization strategy.
Technology choice
- Backend development – PHP
- Frontend development – ReactJS
Team and Duration
- 2 backend programmers
- 1-2 frontend programmers
- 1 PM
- 1 QA
- 1 DevOps
- 4+ years, an ongoing project
RESULTS
The platform designed and developed by CPCS provides SMBs with working capital loans and long-term expansion loans from varied private investors; namely not just banks. A number of mathematical algorithms embedded into the system’s code by CPCS engineers allow to automate the qualification process and speed up investment processes by 75 percent. All the features we discovered and implemented aim to automate the analytical, cash flow, and repayment processes and track them within the system analytical block. These product discovery and development efforts have triggered an enormous growth for the business of our Client.
