How we reduced time to market for LendingPoint

Time to market is a critical path for any new company. A fast time to market can make sure your business maximizes the opportunities available, whereas being late to...

Darpan Saini 10th February 2015

Time to market is a critical path for any new company. A fast time to market can make sure your business maximizes the opportunities available, whereas being late to market could mean a severely bruised bottom line. One of the key time to market levers a new company has is deciding whether to build or buy their technology.



This holds especially true for the non-banking environment where lending businesses face a myriad of challenges from managing the expectations of the ever-connected customer, to quickly offering them the best solutions for their borrowing needs.



When I co-founded Cloud Lending just over two years ago, as CTO I knew the key to our success would be our ability to deliver quickly for our customers, and deliver well. Delivering well includes having the right functionality that lenders need, and a complete solution for them. As LendingPoint found out, our delivering fast for our customers has significant advantages.



lendingpoint-logo1I first met Franck Fatras, CTO of LendingPoint, while he was evaluating technology options for his new company. He had extensively researched solutions like Intuit and other financial packages, but he quickly discovered that none of their initial shortlist met their key primary requirements. Their wishlist included a solution that was 1) native to Salesforce, 2) had complete bank-grade, back office applications, 3) offered access to additional applications through AppExchange and 4) was 100% cloud-based for security, reliability, and affordability.



If Franck couldn’t find what he needed, he was prepared to build it himself which would be an 8-14 month endeavor. To Franck, not only was that unacceptable, but as someone with a history of delivering fast time-to-market at previous companies, another way had to be found. What he hadn’t banked on, was how partnering with a team that has speed of delivery built into its DNA would help him to get to market in just 90 days.



The teams at LendingPoint and Cloud Lending Solutions worked seamlessly together made sure that LendingPoint could deliver their solution in 90 days. I have great satisfaction that not only did Franck and I work cohesively, but our two driven and diverse teams that spanned geographies built LendingPoint a robust technology launchpad very, very fast.



I am very pleased to welcome the latest disruptive innovators into the market. Congratulations, LendingPoint!

Resources

NEWS

Cloud Lending Solutions Expands Leadership Team with New Executive Hires

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DigitalLEND Connects Borrowers and Lenders Through Rapid Deployment-Ready Customizable Solution

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BLOGS

Regtech Meets Fintech – How It Improves Lending?

Lending as an industry is prone to risks and frauds. The added weight of growing ...

Opti-channel banking – way forward for better customer engagements

With an upsurge in technological innovation and the rise of digitally equipped millennials, banking and ...

EVENTS

DLAI FinTech Conference – 2018

India's Largest Fintech Conference Keynote Sessions 1. Consumer Lending - The Emerging Frontiers 2. SME ...

NEFA Finance Summit 2018 (Conference)

The National Equipment Finance Association (NEFA) is a national association serving small- to mid-size independent ...