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Industry: Financial Services

Automating bankruptcy/consumer proposal loan origination system with Salesforce

One of the leading Canadian Financial Technology companies improves customers’ financial situation and credit score with Salesforce Implementation by automating the adjudication process of their loan origination system.


Loan Origination System


June 23, 2020



The Client

The client is one of the publicly listed leading financial services providers in Canada. They are on a mission to empower Canadians to manage their personal finances, with credit building products, guidance, and tools to optimize their credit wellness. The Client is a financial technology expert that understands the benefits and drawbacks of credit in Canada. They help Canadians rebuild their credit to gain access to prime lending, through their industry-leading proprietary technology solutions: Fast-Track, Score-Up, and Credit-Meds. Their proven strategy guides our customers back to a meaningful credit score, 50% quicker than traditional methods. They have expanded their business across Canada.

The Objective

The Client focused on providing a robust and scalable loan management system with automation to its customers. The client was seeking for solution partner who could help with new Salesforce implementation and customize according to the client’s proprietary lending process. The partner needed to have strong Salesforce knowledge and expertise in digital transformation.

The Challenges

Recognised as a strong leader in this competitive and digital world is tough without the adoption of updated technology. Customer satisfaction, faster process, and increase productivity are always desired for any organization to be successful as a Business leader in the market.

Main problems faced by our clients were:

  • Difficulty with the current loan submission portal for the borrower, co-borrower, and co-signer.
  • Manual verification of loan applications and access to multiple systems takes a lot of time to process.
  • Lack of standard process and tracking system for loan applications.
  • Inappropriate visibility and maintaining missing data and red flags of submitted applications.
  • Scalability, automation, and flexibility issues that slowed the process of loan application submission to loan disbursement.

The Solutions

The client engaged with Technology Mindz to perform detailed review and analysis of their current loan applications system and recommend solutions accordingly to fix all these issues with the power of the Salesforce platform.

  • Created a single platform of loan applications for managing borrowers, co-borrowers, and co-signers details.
  • Provided Integrated system with screen to show missing details and red flags of loan applications.
  • Automated email notification and different stages of loan applications throughout the processes.
  • Developed and implemented the Salesforce platform to address the governance and approval issues.

Technical Approach

  • Created account to manage applicants with their co-borrowers and co-signers details and custom objects for loan application details.
  • Developed Lightning components and apex classes into their system to highlight missing data and enhance user experience.
  • Automated loan application workflows, process builders, and triggers in the Salesforce.
  • Provided with an interactive view of dashboards and reports to business users. Management can have deep insight into the analytics of loan applications- applied, submitted, and stages of applications.

Loan application to loan disbursement workflow diagram-Financial Services

The Benefits

  • Streamlined process enhances the performances of employees.
  • Attained speed in an exit consumer proposal and achieve a high credit score for their applicants.
  • Faster tracking loan applications delivers loan disbursement quickly.
  • Improved decision-making capabilities through a quick look at dashboards and reports on loan applications progression
  • Better usage of client’s homegrown products like fast track and credit score with salesforce implementation.
  • Reaching the mass audience to get rid of financial insolvency which gives the power to save.
  • Significant reduction in turnaround time of their loan application approval to loan disbursement.

The Results

  • Achieved customer satisfaction and customer referrals for financial credit management.
  • 50% reduction in time to process the loan application and disbursement of the loan.
  • Client’s customers have improved experience with lowered interest rates.
  • Easy portal for applicants to onboard and provide necessary details required for processing.
  • Automation and integration in loan processes speed up the process for more loan applications.
  • Seamless configurations across the salesforce platform enable users to deal with loan applicants.
  • Resolved the problem of storage of scattered data and improved the efficiency of their business.