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Loan Origination System

Industry: Financial Services

Automating bankruptcy/consumer proposal loan origination system with Salesforce

A leading Canadian financial technology company improves its customers’ financial situation and credit scoreswith Salesforce Implementation by automating the adjudication process of their loan origination system.


Manual processing , Lack of standarization, Maintaining missing data of loan applications.


A central and customize the system for managing proprietary lending process


Streamlined process for faster loan application tracking & quick look at dashboards and reports

The Client

The client is a publicly listed,leading financial services provider in Canada. They empower Canadians to manage their personal finances with credit building products, guidance, and tools to optimize their credit wellness. The client is a fintech expert that understands the benefits and drawbacks of credit in Canada. They help Canadians rebuild their credit for gaining access to prime lending services through their industry-leading proprietary technology solutions such asFast-Track, Score-Up, and Credit-Meds. The proven strategy of these solutions helps the client guideits customers back to a meaningful credit score, 50% quicker than traditional methods. In this way, the client has expanded their business across Canada.

The Objective

The client is focused on providing a robust, scalable and automated loan management system to its customers. The client was seeking for a solution partner who could help with new Salesforce implementation and customize the system according to the client’s proprietary lending process. The partner also needed to have a strong Salesforce expertise in digital transformation.

The Challenges

Being recognized as a strong leader in this competitive and digital world is tough without the adoption of updated technology. Similarly, customer satisfaction, faster processing, and increased productivity are prioritized by organizations to become successful as business leaders in the market.

On these grounds, the main problems faced by our client were:

  • Difficulty with the current loan submission portal for the borrower, co-borrower, and co-signer.
  • Excess time lost in processing the manual verification of loan applications and while accessing multiple systems.
  • Lack of a standardized tracking system for loan applications.
  • Inappropriate visibility in maintaining missing data and red flags of submitted applications.
  • Scalability, automation, and flexibility issues that slowed the process from loan application submission to loan disbursement.

The Solutions

The client engaged with Technology Mindzfor detailed review and analysis of their current loan applications system. We recommended solutions accordingly to fix all these issues with the power of the Salesforce platform.Here’s how:

  • Created a single platform of loan applications for managing borrowers, co-borrowers, and co-signers details.
  • Provided an integrated system with screen that showsmissing details and red flags of loan applications.
  • Automated email notificationsand different stages of loan applications throughout the processes.
  • Developed and implemented the Salesforce platform to address the governance and approval issues.

Technical Approach

  • Created accounts to manage applicants with their co-borrowers and co-signers details and custom objects for loan application details.
  • Developed Lightning components andApex classes into their system to highlight missing data and enhancetheuser experience.
  • Automated loan application workflows, process builders, and Salesforce triggerevents.
  • Provided an interactive view of dashboards and reports to business users, withwhich the management can gain deep insightsinto the analytics of loan applications-applied, submitted, and other stages of applications.

Loan application to loan disbursement workflow diagram-Financial Services

The Benefits

  • Enhanced the performance of employees with this streamlined process.
  • Attained speed in an exit consumer proposal in order to achieve a high credit score for their applicants.
  • Loan disbursement made quicker with faster tracking of loan applications.
  • Improved decision-making capabilities through a quick look at dashboards and reports on loan applications progression.
  • Betteredusage of client’s homegrown products like fast track and credit score with Salesforce implementation.
  • Helped reaching the mass audience to get rid of financial insolvency which gives the power to save.
  • Significantly reduced the turnaround time from loan application approval to loan disbursement.

The Results

  • Achieved customer satisfaction and customer referrals for financial credit management.
  • 50% reduction in time to process the loan application and disbursement of the loan.
  • Client’s customers gained an improved experience with lowered interest rates.
  • Created an easy portal for applicants to onboard and provide the necessary details required for processing.
  • Automation and integration in loan processes sped up the process for more loan applications.
  • Seamless configurations across the Salesforce platform enabled users to deal with loan applicants.
  • Resolved the problem of storage of scattered data and improved the efficiency of their overall business.