SNAP Financial provides financing for home improvement durables sold by third-party dealers. The company approached us for help creating a mobile loan origination platform that could be used at the kitchen table to speed applications and get their sales numbers moving.
The project required more than a coder.
We had to understand their business and how the technology should fit in. What were SNAP’s existing systems, tools and processes? How did dealers interact with customers and what were the pain points in the application process? How could a digital app ease the back-and-forth information flow that an application for financing often requires?
The process was iterative.
Information gathering led to modelling involving mock-ups, wire frames, proof of concepts and functional proto-typing. The results were tested in dealer focus groups, subjected to data analysis and then refined. The cycle continued until the app emerged with an interface and systems flow that worked optimally.
The app we built has become the embodiment of the SNAP name.
In its original form and several subsequent iterations, it has served as an efficient, game-changing platform for speeding loan origination that dealers can use on any device. We made it flexible and scalable so that it could be integrated with multiple third-party systems and with SNAP’s own sales solutions. The team is now better equipped than ever to recruit dealers and drive platform utilization.
Portfolio volumes shot up.
In Canada, our app made SNAP the disruptor in the home improvement lending space. It separated them from the pack and left the competition scrambling to catch up. When the company expanded into the US, it helped them gain traction in a mature market. By simplifying the experience at the kitchen table, SNAP won against large old school providers still relying on paper-based processes.
Learn more about how Flywheel helps financial service companies.