endorsedCompleted

Agricultural Loan Automation for Crowdfunding Platform

Services Covered:

Custom Software Development • Mobile Application Development • DevOps • Cloud-Native Application Development

Industry

Financial Services

Duration

11 months

Budget

200K - 999K

Start Date

1 May 2022

Team Size

6-10 Employees

Engagement Model

Offshore

Project Capability Score (PCS)

78/100

Good

Project Capability Score (PCS) estimates how capable Inteca is of successfully delivering a project like this, based on its past experience, track record, and ability to handle similar work. Learn more about PCS

Client

Confidential

Boston, United States of America

Project Summary

Inteca developed an automated platform for a crowdfunding platform's agricultural loan processes, building front and backend loan application systems and integrating them with the bank's core services. The vendor implemented process automation and a scoring decision engine using Angular, Java Spring Boot, Kubernetes and Docker and delivered the work via Agile iterations. The solution reduced loan processing times dramatically and increased throughput and customer satisfaction.

Key Challenges

Automate and streamline agricultural loan processes to reduce lead time from four weeks to two hours.
Develop front- and back-end loan application systems with secure, efficient workflows.
Implement process automation and a scoring decision engine to speed decision-making and improve risk assessment.
Integrate the new platform with existing core-banking services and handle document management and signatures.
Improve operational efficiency, customer experience, and the bank's responsiveness to market changes.

Project Deliverables

Loan Application Frontend and Backend Development
Process Automation Platform (process engine)
Scoring Decision Engine
Integration with Core-Banking Services
Document Management and Automated Agreement Generation
Regular Agile releases and ongoing improvements

Project Solution

Inteca assigned a 6-10 person team and developed a full-stack automated lending platform. They built user-facing frontends and robust backends for loan applications; implemented a process engine to automate application, evaluation, and approval stages; and created a scoring decision engine to assess applicant risk. The team integrated the platform with the bank's core systems, implemented document management and signature-ready agreement generation, and used Agile delivery with regular releases. Technologies included Angular, Java Spring Boot, containerization and orchestration with Docker and Kubernetes, and Keycloak for identity and access management.

Project Outcome

Drastic reduction in loan processing time from 4 weeks to 2 hours.
Increased loan application throughput enabling more loans to be processed simultaneously.
Enhanced customer experience due to faster responses and simplified application flow.
Improved risk assessment accuracy from the scoring decision engine, reducing credit risk.
Reduction in operational costs through automation of manual processing and document handling.
Greater responsiveness and agility through regular feature deployments and an Agile approach.

Platforms

Web
Cloud

Tech Stack

Angular
Java
Spring Boot
Kubernetes
Docker

Client Endorsement

Overall Review Rating

Timeliness

Cost Rating

Willing to Refer

Quality of Deliverables

“Inteca delivered a top-notch solution that revolutionized the client's agricultural loan process. The automated system drastically reduced loan processing times from 4 weeks to 2 hours. The team's responsiveness, transparency, and openness to feedback contributed to the project's success.”
Anonymous
Founder & CEO
Date: 07/26/2023