Simplifying the loan application process
bdc
Overview
The Challenge
The Business Development Bank of Canada (BDC) is constantly looking for innovative solutions to increase the efficiency of its services and help its customers achieve their goals. In line with this, BDC has partnered with nventive to develop a solution that simplifies the loan application process for Canadian entrepreneurs.
The nventive Solution
nventive was commissioned to design and produce a mobile application combining security and intuitiveness in order to increase the productivity of BDC’s account managers during their financing meetings with entrepreneurs.
Through a series of workshops, the BDC and nventive teams collaborated to design an unprecedented solution in the fintech industry. Based on a restructuring of BDC’s data services and approval process, the mobile solution managed to simplify loan agreements without compromising either the security or quality of funding requests.
Building on their partnership with Apple, BDC and nventive jointly developed the BDC RSL application in Swift 3.0. Use of the app was limited to iOS devices, reducing security risks. Designed mainly for the iPad, the application features an intuitive interface ( UI/UX ), as well as an integration with the multiple systems in use at the BDC ( CRM, ECF and several others ).
Results
The solution significantly boosted productivity by reducing the time it takes to approve funding. The process in place, which used to take up to 10 days, now generates requests in a few minutes, right in front of the client. After hundreds of millions of dollars in simple loans granted, the application was declared a great success a year later by Apple and reaffirms nventive’s ranking among the best independent app mobile firm for financial institutions. Our collaboration with BDC’s digital transformation process continues to this day.
