# Modernizing an auto refi platform: iLending's Phoenix app > iLending's new loan application had stalled with another developer, running late, over budget and short of features, while call center agents kept turning refinance leads into loans by hand. TechFabric's engineers picked the project up, reviewed what had been built, and rebuilt the app day to day alongside iLending's own developers, automating lead and loan officer assignment, rate sheets and stipulation documents. Manual errors dropped and new agents got productive faster. Client: iLending Sector: Automotive / Fintech Stack: ASP.NET, MVC, Azure, Event Store, Service Bus Canonical: https://www.techfabric.com/case-studies/ilending --- ## Challenge **High stakes market with complex processes** In 2017, iLendingDirect set out to modernize its loan application process, and a third-party developer's first version ran late, over budget, short of features and slow. So iLending asked TechFabric to pick up a project another firm hadn't finished. Our engineers assessed what existed and rebuilt it with iLending's own developers, in a way that left room to keep improving it. - Key Areas To Remedy: - Lead Ingest & Loan Officer Assignment - Rate Sheet Management - Stipulation Document Management - Customer Relation Management (CRM) - Loan Origination API Performance - Manual entry and agent on-boarding ## Strategy **Re-Imagine iLending's "Phoenix" Application** The rebuild had to keep up with iLending's workflow as it kept changing, so that call center agents could turn a lead into a loan without falling back on manual steps. Its core was the Auto Refi system, which iLending calls the Phoenix App, and one of its new features was real-time web chat built on Twilio. Also, TechFabric assisted in further improving the application by recommending the use of an Event Store, a functional database, and a service bus architecture design. These improvements were strategically implemented to optimize the Lead to Loan process, ultimately improving efficiency and success in iLending's operations. - Fixing The "Old" Manual Process: - Incoming Lead - Agent Manual Workflow: - Reference Rate Sheets - Fill Out Templated PDFs - Email & SMS Text Communication - 4. Manage Data in Excel - 5. Process Refi Deal & Loan Docs ## Solution **Improving The Lead-To-Loan Process For Agents** The data (leads) received from various sources are imported into the Auto Refi Platform using REST APIs. TechFabric helped in the successful migration of highly secure data from on-premises (SQL Server database) to Azure Cloud database and set up CI/CD for code management using VSTS. The original process required agents to manually enter information from the CRM to request once the information was available, they then had to update it in the CRM manually. Agents also had to create PDF documents from templates and manage external data (outside the CRM) in Excel files. Managers were also tracking & managing reports in Excel outside of the CRM. Automating the system would significantly accelerate the approval process while reducing the risk inherent in all manual processes. - Solution - Growth - Scalability From Onboarding New Lenders Loan and vehicle refinancing volume relies on the number of lenders in the system. Teaming up with TechFabric, we developed an integrated application that simplifies onboarding by connecting to various third-party systems. This single system lets agents manage the entire financial approval process efficiently. Its scalability ensures clean integration with numerous third parties, enabling iLendingDirect's rapid expansion. Our ongoing partnership with TechFabric ensures the continuous development of new features to meet evolving market demands. - Microservices - Allows the application to scale up with business needs - No-SQL Database - Reduces risk of performance issues due to large volume - Solution - Key Factors - Making The Best Refi Match To automate this process, TechFabric implemented a rules-based auto-response, driven by lender and rate. TechFabric needed to deliver to iLendingDirect's loan consultants the criteria and information from the lender network that represented the best financing solutions for the customer that would reduce their payment or interest rate or both. iLendingDirect was able to enforce the company's best practices (for Lead management / Agent Management / Queue Management) within the system. The AutoRefi Platform literally eliminated the need to manage the workload of Agents and opened up the possibility of Advanced Dashboard & Advanced Notifications, allowing iLending Direct management to monitor their entire operation closely. It gave both managers and agents higher visibility and control of the overall process. - Key Features - Automated Lead Responses - Automated Rates Based on Eligibility - Automated Contract Management - Automated Loan Applications - Phone, Email, and SMS Integrations - Communication History Tracking ## Results **The ROI Is Simple** In addition to automating numerous tedious and error-prone manual processes previously done by CRM Users, the iLending app provided the ability to efficiently store all the required operational data (like lender rate cards and preferred lenders) and the dashboards and custom reporting required by managers for decision. - 2x - Number of loans closed per month - 4+ - Key manual workflows replaced with automation - What the client had to say about the project. - Mark Lindley - Director of IT "One thing about the TechFabric team that stands out is their dedication and commitment. They've always been available even if it's after hours or on the weekend -- if there's an issue, they'll respond. Honestly, I feel like they're a part of our team, they act and behave that way as well. They're not just a vendor." - key takeaway - Automation Transforms Cycle Time The Auto Refi Platform took manual work out of iLendingDirect's cycle, added SSL encryption and multifactor authentication, and gave the team more visibility and control over operations. iLendingDirect expanded its auto refinance business on that platform.