Revolutionizing Finance: Empowering Small Merchants by Scaling Up an Embedded Finance Platform

A UK-based fintech company scaled their embedded finance platform, automated processes, and reduced costs, transforming their operations and improving their market penetration.

The project in a nutshell

Embedded finance platform

Digital Archaeology

Product Engineering

Cost reduction

CRM Integration

A woman and a man talking while working on a computer

The Challenge

Our client is a finance company from the United Kingdom that provides revenue-based financing solutions to small businesses through an embedded finance platform. At the time our client approached us, their biggest challenge was the need to scale their company with an experienced and reliable technology team, in answer to their growing base of Partners and Merchants. In order to keep up with their rising demand, our client needed to improve their reach, their market penetration, and their cost efficiency.

Another pain point was their great necessity for task automation, as they relied on too many manual processes without clearly-defined procedures. Our team provided solutions that contributed to fixing this issue as well.

The project’s tech stack

.NET

Node.js

React

Cosmos DB

Azure Service Bus

Salesforce

Solution

We built several digital products for this fintech client, catering to two different types of customers: Merchants and Partners.

We created a UI engine in React that allows our client to configure various onboarding journeys for each Partner. The configurations are stored in a non-relational database (Cosmos DB), eliminating the need for deployment. Additionally, we built an engine that enables different user flows based on the Partner, jurisdiction, or other variables. This engine is implemented as a set of Azure Functions, allowing the Data Science team to implement or extend functionalities using Python.

To reduce costs, we developed software to replace Salesforce as the CRM. Furthermore, we built an administrative portal and several services for internal use.

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Collaborative development in fintech operations

During our partnership with this fintech company, we were involved in 80% of the client's operations, working in mixed teams composed of both CloudX developers and the client's developers. We helped build various platforms to manage several aspects of the client's operations, including applications, quotes, payments, decisioning, data ingestion, and legal documents such as contracts, reports, and statements.

Results

Our client successfully scaled up their business and increased their technology team while having CloudX as a technology partner. By implementing various digital solutions and automating manual processes our client achieved significant benefits:

· Less onboarding time for new Partners, reducing the process from weeks or months to just a few days.

· Reduction in administrative costs by almost eliminating the reliance on Salesforce as a CRM.

· The Quoting and Decisioning engines enabled the company to evolve their existing rules, enhancing market penetration by increasing the number of marketable Merchants.