Case Study: LendingPoint achieves rapid 90‑day platform launch and $20M funding with Cloud Lending Solutions

Lendingpoint’s Growth Skyrockets With Cloud Lending Solutions

LendingPoint, a progressive online lender offering personal loans, needed to launch a scalable, 24x7 cloud-based loan processing platform built natively on Salesforce to enter new markets quickly, incorporate more than traditional FICO scoring, and dramatically reduce approval and funding times. Instead of building in-house, LendingPoint selected Cloud Lending Solutions to meet these requirements.

Cloud Lending Solutions delivered a configurable, end-to-end loan management solution (origination, funding, servicing and collections) in about 90 days using an agile Salesforce-native implementation and provides ongoing 24x7 support. As a result, LendingPoint funded approximately $20 million and processed 65,000 applications in 2015, cut an anticipated 6–12 month build to under three months, and accelerated its go-to-market, underwriting and customer experience improvements.

LendingPoint

LendingPoint

Co-Founder and CTO