Case Study: Funding Circle accelerates borrower support and boosts loan conversion with Hugo

Funding Circle cuts borrower drop-off by 10–15% with Hugo

Funding Circle, a leading SME lending platform, faced a challenge in maintaining fast, proactive communication with borrowers during the application and repayment processes. To address these service-layer gaps and turn customer support into a market advantage, they partnered with the vendor Hugo to explore outsourcing solutions for their customer support operations.

The proposed solution from Hugo involved strategically outsourcing 50-60% of Tier 1 customer support tasks, such as application status updates and document submission guidance, to a lending-trained team. This allowed Funding Circle's in-house experts to focus on high-value work. Hugo's analysis projected that this approach could reduce borrower drop-off by 10-15%, increase loan conversion rates, and lift Net Promoter Score (NPS) by 8-12 points through faster response times and proactive follow-ups.

Funding Circle