Nonbank Lender

A nonbank lender turns to 2River to create an online lending business. 2River helps them compete in this crowded marketplace.

The Challenge

A leading non-bank lender wanted to update its lending technology and create a new online channel for small business loan products. The company had decades of historical loan data and had an experienced team of underwriters.  However the company did not have the in-house resources to navigate the project management and implementation hurdles for complex analytics projects.   

2River developed a custom end-to-end loan scoring system and created a new small business lending product from scratch – to include the technology, workflows and go-to-market strategy.

Why 2River

Based on our consulting heritage 2River takes a unique approach to build models and analytics systems. Our methodology includes a change management process that taps into our client’s experience and culture to develop and implement technology initiatives.

2River conducted detailed interviews with our client’s underwriting team and analyzed millions of historical records, each with hundreds of attributes. Based on the interviews and historical data, 2River built a series of predictive models.

2River integrated these models into a fully automated web-based system that connects in real-time with the client’s operational systems and several 3rd-party data providers. This system was built using a responsive web front end framework and integrated with the client’s on-premise systems and cloud-based CRM system.

2River created workflows for online direct lending. The workflows captured the business processes and functional activities for each step in the borrower journey and the back-end analyst. 2River developed multiple automated tasks to cultivate and convert leads.

2River also designed and developed the user interface for borrowers and loan officers to perform all of the tasks and steps in the workflow. The workflows included Origination, Credit Decisioning, Servicing business processes, as well as Marketing and Customer Acquisition.

The Benefits

The resulting system is used daily for assessing the risk of providing millions of dollars in capital to small and mid-size enterprises. This system helps our client capture the true value of their business by building intelligence and automation into a wide range of decision processes in order to create scale.

By focusing both on technology and change management, 2River helped our client’s staff and management team accept and trust the new technology. 2River’s technology solution provides automation and analytics that improve customer acquisition, customer retention and customer lifetime value for the lending industry.

Financial district of the City of London

Additional Resources

Understanding Credit Needs – A Presentation to the Chicago Fed

The Federal Reserve Bank of Chicago hosted a workshop entitled “Access to Small Business Capital: Exploring Resources and Risk”. 2River Read more…

LIFT Security Whitepaper

The LIFT analytics platform was built from the ground up to provide “bank-level” security. Systems built on the LIFT platform Read more…

JPMorgan Chase

JPMorgan Chase announced their support to the advancement of the “myWaytoCredit.com” technology platform

MyWaytoCredit.com Banking Webinar

Keith Catanzano (2River) and guests from Woodforest National Bank, Capital One, and LiftFund discuss bank’s expectations of myWaytoCredit.com platform

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