Digital Finance Provider for Underserved Customers
Customer
The U.S.-based financial services company that specializes in point-of-sale finance for underserved customers.
Business challenge
Unhappy with the legacy lending software solution that no longer met their business needs, our customers decided to build their own application, designed and customized to equip their broad agent network with the newest features and updates available on the market.
Project key facts
  • East Coast, Southern US
  • Web Application
  • Cloud Data Warehouse
Duration
2.5 years
Industry
POS Consumer Financing
Software Development Model
Agile/Scrum


Objectives

Armada Labs was challenged to fine-tune the lease application processes with the latest technology innovation while preserving the ability to obtain customers' credit data and reports from third-party credit bureaus.

Along with that, Armada Labs was working on the following features:

  • Ability to generate and sign lease agreements.
  • Ability to send the application data into the "back-end" system for further processing and management of lease repayments.
  • Admin functionality to enable seamless management and configuration in the application.
  • Dashboards and reporting functionality to ensure the necessary level of data analytics.
TEAM
16 Developers
6 QA Engineers
4 Business Analysts
1 Project Manager
Technology Stack
Frontend: Angular, Vue.js, HTML, CSS
Database server: MSSQL
Cloud solution: AWS, Azure
Backend: ASP.NET Core 2.1, Entity Framework Core, .Net Framework


Solution

Armada Labs designed and developed a multi-tier software solution with the primary focus on data security, technology savviness, and quality assurance leveraged for better credit accessibility and management.

Our software allows to handle financing in American shops on B2C lease and covers the whole loan life cycle, including: 

  • Loan management software

    Loan initiation, application review, assessment, approval, and denial — all in real-time. The fast and easy application and credit approval are the keys to customer satisfaction, translating into increased sales for dealer partners.

  • Electronic formation of lease contracts

    Integration with DocuSign facilitates online lease agreements, storing them and allowing for field changes directly from a mobile device.

  • Automated payment processing

    The software automatically deducts the regularly scheduled payments from the customer’s bank account.

  • Custom installment plans

    The payment plan is determined by individual payment frequency and the cost of the purchased item.

  • Operation reporting for clients, users, and storehouses

    A full set of records about approvals, funded details, sales metrics, past-due balances, and other documents are completely transparent and available 24/7.

Distinctive features
  • AI-Driven Loan Management
  • Credit Bureau Integrations (Clarity, DataX, Experian, etc.)
  • Alternative Underwriting Data
  • Automated PCI DSS, KYC-AML Compliance
  • Due Data Notifications
  • Proven Quality Analytics


Business benefits
%

Loans per Person per Day

$
M

Estimated Annual Revenue

%

Total Funding

$
M

Time Savings

%

Reduction in Systems

$
M

Monthly Payments on Loans

Our team is very proud to be a part of the successful journey and dynamic development of Koalafi.Hard work, attention to details and desire to deliver best results possible make Armada Labs strong technology partner to Koalafi.

Eugene Pratasenia,

Co-founder and Managing Partner at Armada Labs