Customer Outcomes
SoFi, a leading digital personal finance company, aims to help people achieve financial independence. With an ever-changing political landscape in the U.S., and faced with the aftermath of the pandemic, student loan holders were uncertain about their future - and SoFi wanted to help, providing the opportunity to refinance at historically low rates. Wanting to leverage low-code
technology and agile processes to increase SoFi’s approval rate and ensure the ability to refinance as many loans as possible, they turned to Provenir. SoFi was able to complete the project and go live in a shorter timeframe than anticipated, resulting
44 % 57 % 25 %
reduction in development resources reduction in development cost
improvement in underwriting speed
in a reduction in development resources of 44%, and at a cost that was over 57% less than the cost of development of similar application platforms. As a bonus, SoFi has realized a more than 25% improvement in underwriting speed, and have streamlined their regulatory and compliance processes. Now, SoFi has shared their learnings with the wider organization to drive improved application development efficiencies across the entire company - and the whole customer lifecycle.
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