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Headquarters: New York
Fundera is a marketplace for small business financial solutions. They provide expert insights and tailored options — from SBA loans to credit cards to bank accounts.
Working out of spreadsheets, receiving attachments in emails and with 20 to 30 documents to juggle across every application, Fundera were looking for a total solution to their document collection workflow. Their first priority was having a simple intuitive process for their clients to use. Their second, visibility across their loan pipeline.
After an initial discovery meeting with the FileInvite Enterprise team a workflow analysis and proof of
concept detailed the productivity gains that could be accomplished. A system to eradicate the spreadsheets used for tracking documents and a way to gain visibility over their loan pipeline.
Client feedback was that they were impressed with the intuitive client portals. The seamless digital experience for their customers, enabling them to ditch the struggle of email attachments and complete forms online rather than printing, scanning and completing by hand.
As FileInvite is a cloud based application it could be deployed quickly with minimal setup required.
Scaling the use of FileInvite, Fundera were able to rapidly onboard the entire sales and processing team. Using master templates, they ensured everyone has the latest contracts, updated conditions and any regulatory requirements covered.
The integrated process resulted in a tight loop from cashflow pass to full packaging of documents for every application. The central dashboard gave transparency over the status of every application and where each client was at with providing their documents, giving insights for forecasting and targets.
With a new client portal created in seconds, clients now receive their own individual space to upload and complete their application. An explanation video and instructions tailored to their process, together with automated reminders helped delivers the completed documents to a central dashboard in record time.
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