Lengthy, complex and manual lending processes within banks today leave customers both disengaged and unlikely to complete their loan application. At the same time, stretched underwriting processes mean that lending decisions take longer leading to customer frustration and loss of revenue.
Vault Core and Ezbob's Express solution delivers a credit decision within minutes, bringing a seamless loan origination experience to the market for financial firms focusing on small business lending.
Increased customer engagement
Vault Core’s real-time data feed alongside Ezbob’s lightning fast automation can see a 400% increase in the number of completed applications.
Faster customer onboarding
Customers can complete their loan application within minutes, bringing banks an increase in the number of onboarded customers.
Reduction in manual processing
A completed automated digital lending process delivers significant efficiency gains across a bank’s operation and is thirty times faster than manually processing loans. This gives banks the ability to scale business operations according to customer demand.
This integration begins with a limited company requesting an unsecured loan from the bank. The onboarding journey is supported by ezbob’s infrastructure and it is completed through the digital signing of the loan agreement by the loan applicant. Once created there is a single point of integration between ezbob and Vault Core in which all of the loan details are shared with Vault Core via the API channel. The API is provided by Vault Core and is consumed with HTTP v1.1.