Digital lending platform and corresponding mobile app client that fully automates the loan process (e.g., origination, online loan application, KYC, credit scoring, underwriting, payments, reporting, and bad deal management).

Features a custom, AI-based analytics and scoring engine; virtual credit cards; and integration with major credit reporting agencies and a bank account’s aggregation platform.

Project Background
The client is a FinTech startup with decades of experience in the financial services industry. Recognizing a gap in the current business-loan lending sphere for small and midsize businesses, they decided to launch a fully digital, online loan platform (and a corresponding mobile app) that would fully automate traditional loan business and provide the following benefits:

• Allowing end clients to apply for, receive, and make payments for a loan without having to leave their home
• Lower operational costs for capital providers and lower interest rates for end clients by minimizing human involvement and fully automating the loan process
• Disbursement of more loans with a lower default rate, using an AI-based, self-learning, credit-scoring module
• Moving operations from brick-and-mortar branches to the online platform

The client was looking for a technical partner with profound expertise in the FinTech industry, specifically in digital-lending technologies, artificial intelligence, and mobile app development. Itexus was selected for our expertise in these areas, as well as for our flexible, startup-oriented approach.
Functionality Overview

• A mobile app for end clients with user registration, KYC, loan application, agreement signing via DocuSign, virtual credit card issuance, payments, statistics, and reminders functionality.
• Administration Module featuring overall stats about app performance, user management, scoring settings, and reporting.
• Back office with advanced reporting and loan portfolio-monitoring functionality.
• Advanced credit-scoring model that uses credit history, transaction data, and an ensemble of statistical and machine-learning algorithms to determine credit risk, interest rate, and other parameters.
• Automated Know Your Customer (KYC), Anti Money Laundering (AML) processes through the integration of leading industry KYC/AML providers, such as Experian.
• Automated ‘Bad Deal Management’ module, which automatically sells nonperforming loans to a collection agency.