In the 10 years following the Great Recession, American households have migrated from being net savers to net borrowers. The increased demand for credit has been a boon for lenders, and has given rise to a proliferation of lending technologies (“LendTech”) that support core lending functions for retail and commercial financial institutions. Competition within the LendTech industry is intense, centered on the use of realtime data, and emerging technologies that enhance the lender’s ability to intelligently navigate tradeoffs between risk factors and growth.
Sagent Lending Technologies provides loan origination and servicing products for banks and credit unions. Prior to partnering with Encora, Sagent was challenged to deliver product enhancements at a pace in line with the demands of the market. Developer productivity and attrition were issues, resulting in lower code quality and diminished speed to market.
Encora introduced new process management practices to improve the rigor, productivity and quality of product development at Sagent.
Within the first 6 months of client partnership, Encora's proprietary EDC framework had delivered significant improvements to product development throughput and quality. Schedule variance and defect variances were reduced to below 1%, and the number of story points per release (an agile development productivity metric) increased by 22%. As Encora increased the productivity of the team supporting the client's seven core products, developer turnover also dropped dramatically, yielding greater continuity and preservation of Sagent’s intellectual property.
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