Who are they?
Fundwise Capital helps small businesses, start-ups, and entrepreneurs secure the best business loans, project funding, and financing education options. Since 2013, Fundwise Capital has helped its clients secure over $150 million in funding.
The challenge they were facing…
As the COO for a company dedicated to helping small businesses grow and secure low-risk capital, Isaac knew that increasing efficiency was vital for the success of Fundwise Capital.
Specifically, he needed a way to automate the process of underwriting and approving new loans. The process of pulling data out of consumer credit reports and reviewing that data was a slow process took—often taking his team 15 minutes per file—and the lack of instantaneous results scared away some potential partners.
Isaac had tried hiring in-house software developers on multiple occasions. He had even tried outsourcing development to teams in India and South America. He was always disappointed.
How we made their day…
DevSquad quickly proved to be a development team cut from a different cloth. Before they launched into any development, they established a solid framework by reviewing Fundwise Capital’s goals, the challenges they needed to solve, and the solutions that would deliver the best results.
Upon kicking off development, one of the first things DevSquad created was an automated underwriter that intelligently scrubbed consumer credit reports to pull out the data Isaac and his team needed and eliminate unnecessary information via strategic rules and algorithms.
DevSquad also created a custom-made dashboard for Isaac and his team. This dashboard allowed them to report back to their affiliates in real time with all the data they had on the leads their affiliates had sent them.
They’ve also begun to build out a consumer credit report monitoring service which integrates many specific data points that Isaac and his team have provided to DevSquad. These credit reports have made it easy for Isaac’s customers to view the progress of loans and monitor their credit.
Best of all, DevSquad worked fast; they had new deliverables and updates to show Isaac every two weeks. In fact, just two weeks after kicking off their partnership, they had already sent Isaac the first version of his auto-underwriting tool.