About
Challenge
Prosper's goal was to have the loan application and approval process be as simple as possible. It should allow borrowers to apply for a loan by simply entering a few pieces of information. The request would be approved within hours. This would allow an improved lending experience completely different from dealing with traditional banks. To build such a system Pros-per founders turned to Perfectial.
Solution
Loan Management System: Prosper started the P2P market in 2005. Initially, it had no loan management system and Prosper's employees had to review and approve each loan manually. Realizing this complex process had to be automated, Prosper engaged Perfectial engineers to build a custom solution that would help manage all loan-related activities within one system, thus making a loan management process much simpler. Better User Experience: When the system went live, customers still had to send important documentation to Prosper by mail, including scanned IDs, bank statements and other financial forms needed to the loan process. Prosper decided this could be improved and simplified and that in doing so, it could help expand its market. Prosper had Perfectial build a docu-ment workflow management feature into the system. The improved user experience helped Prosper grow to be one of the biggest forces in P2P Lending. Ongoing Partnership: Prosper and Perfectial continue to work together on adding new features and improving the application layer of the business.
Results
Faster loan granting thanks to automated loan management system Reduction in cost over domestic engineering rates
- Not providedSize in euros
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- 4Team size
Tech Information
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Avenga Portfolios
Company Description
In November 2019, four well-established companies with unique cultures, backgrounds and strengths merged into one global IT company to transform industries.
Together, we are more than 4500 professionals with over 20 years of experience in the area of IT and digital transformation. Avenga maintains a total of 27 locations in Europe, Asia and the USA. Avenga is backed by funds managed by Oaktree Capital Management L.P. and Cornerstone Partners to further expand internationally.
Avenga is a global IT and digital transformation champion. We deliver strategy, customer experience, solution engineering, managed services and software products. We understand the complexities of modern markets and translate them into real business solutions for pharma & life sciences, insurance, finance, automotive, and real estate with more to come. Our mission is to shake up the conventional IT market. We are a prosperous software development company delivering customized services and solutions throughout the full application development lifecycle; from identification of business requirements to UI/UX design, engineering, and system testing to cloud deployment. Whether you are a startup company or are getting ready to introduce a new business application, e-commerce website, innovative tool, or mobile application - our team of 4500 highly skilled and experienced architects, project managers, engineers, and testers is agile enough to seamlessly engage with your team at any stage of the project. Our clients who include DataXu, JaspeLabs, Where2GetIt, Brandify, BuzzTarget, Cove Financial, Contraqer, Bedade and more.
Company Information
- AvengaCompany Name
- 4500Number of Employees
- English, German, Ukrainian, Russian, Polish, SpanishSpoken Languages
- https://www.avenga.com/Website
- [email protected]Email
- 2010Year Founded
- Ukraine, Germany, PolandHeadquarters
