Applications Design, Development & Support

Consumer facing refinance product for a large auto loan refinance provider

Company Overview
  • Leading US-based auto loan refinance provider
  • $1B annual revenue
  • 2M+ applications monthly
Tech Overview
  • 1M+ Customers
  • 500+ Lender network
  • 1k+ Operations team

Business & Technical Challenges

  • Current web experience built by cobbling features together from 3 brand acquisitions
  • Customer journey was disjointed, with multiple steps requiring manual intervention
  • Cross selling products like auto insurance was too cumbersome to support
  • Disconnected multiple enterprise systems
  • 1TB DB, growing fast, managed manually using legacy tech
  • No data warehouse and manual reporting

Canterr's Solution

  • Partnered with marketing / product to understand customer needs
  • Designed and developed unified web and native mobile applications to provide seamless customer experience
  • Built Machine Learning models to estimate the car prices in real time
  • Integrated with multiple vendor APIs to minimize customer data entry (e.g., Plaid for job history, Transunion for financial history, etc.)
  • Enabled image scanning to automate uploading driver’s license, retail installment sales contract, etc.
  • Enhanced logging, monitoring, dashboards and alerting to reduce and address the problems effectively.
  • Automated most previously manual tasks to speed turnaround time

Results

  • Consistent customer engagement and experience
  • Significant reduction of loan processing time resulting in customer satisfaction
  • Collaborated with customers on car-buying, boosting refinancing applications
  • $100M incremental revenue with refinance applications
  • 18% reduction in operating costs by automating previously manual tasks
  • $50M revenue potential through cross selling of products
  • Improved automated business process
  • Automated notifications, reporting, alerts, monitoring
  • Improved integration with lender network