Challenge Accepted

To grow its business, Velocity Commercial Capital (VCC) needed a more efficient way to accept and price potential loan applications from brokers. West Monroe Partners helped VCC automate the loan intake process based on business policies and guidelines in order to help establish a portal for interacting with brokers specially coded for their products. 


By the numbers
650 brokers registered with the new portal in January 2017
855 loans in the first 3 weeks, a 20% increase over a typical month
88% of those created loans (normal is 60 to 70 percent)
Results

Delivered a portal that allows brokers to follow their loans through the underwriting and funding processes.

Provided brokers with self-service tools that allow them to explore loan options.

Decreased the time required to deliver a loan quote to just five minutes.

Highlights
  • Redesigned the loan intake process, including automating previously manual tasks.

  • Applied agile development approaches to accommodate changing requirements and a volatile business environment.

  • Integrated the solution with VCC’s core loan origination system to facilitate loan pricing.

  • Deployed the solution in the cloud using the Microsoft web development toolkit, including Azure, and the latest web security standards.