How Novuna’s New Approach to Invoice Finance Reduces Customer Onboarding Time to Less Than 24 Hours
Solution:
The Provenir Decisioning Cloud was chosen for two key reasons: ease of data integration and flexibility. “The key customer requirement is to get funding as quickly as possible. We needed a platform that would enable us to gain efficiency by automating data gathering and simplifying underwriting,” Dodd says. The division is now in the process of integrating Provenir with 13 different systems, including Salesforce. “We need to integrate with a wide range of third-party systems. Because Provenir is data agnostic, it is very easy for us to connect to multiple systems,” says Dodd.
Benefits:
• Automatically gathers data in real-time from 13 sources • Reduces onboarding time to <24 hours and underwriting time to 1 hour • Automatically warns
Results:
The first phase of their onboarding technical overhaul is in progress. In
underwriters of problems in a client application
addition to the real-time data gathering, the system will use Provenir’s decisioning capabilities to focus underwriter’s attention on any problems in a client’s application. “Currently, our underwriters don’t know where problems may exist, so they have to look through everything. What now takes two to three days will take just an hour,” says Dodd.
• Rapidly connects to multiple third-party sources
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