LendTech Platform

Industry: Banking, Financial Services & Insurance

LendTech Platform

Posted by Encora on Aug 31, 2020 3:29:26 PM
In the 10 years following the Great Recession, American households have migrated from being net savers to net borrowers.

Topics: Product Engineering & Development, Test Automation, Quality Engineering, Banking, Financial Services & Insurance, Product Deployment & Support

Industry Context

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-context

Client Challenge

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. 

sagent-challenge

Approach

Encora introduced new process management practices to improve the rigor, productivity and quality of product development at Sagent.

  • Cloud Enablement services established a new environment for development and product hosting.
  • Product Planning services streamlined the product roadmap, articulating plans for new innovative products, and proactively planning for legacy product sunsets.
  • Product Support services delivered capabilities to meet reporting requirements for the servicing of government loans (e.g., Fannie Mae / Freddie Mac, FHA, VA, etc.).
  • Product Engineering & Development services assumed full end-to-end responsibility for the development of products related to loan origination, loan servicing, default management, construction loans and settlement, and vendor management.
  • Test Automation services expanded and streamlined processes related to performance, usability, functionality and accessibility testing.
sagent-approach

Results

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.

sagent-results
sagent case study graph 1 developer attrition

Developer Attrition

sagent case study graph 3 story points

Productivity (Points per Release)

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