Case Study: Figure achieves 2x higher funded conversion with Method

Figure doubles funded conversion with Method

Figure, a financial technology company, faced a challenge in its HELOC underwriting process. It needed a seamless way to access near real-time liability data and integrate a digital debt repayment option to verify that borrowers would pay down existing debts, which would allow for more accurate risk assessment and larger loan offers. They partnered with Method to address this using its Connect, Data, and Pay products.

By implementing Method's APIs, Figure integrated instantaneous liability identification and low-friction direct repayment into its application flow. This solution provided several measurable results for Figure: a 3% increase in pre-approved offer volume, a 2x higher funded conversion rate, an 11% boost in loan value, and a 50% reduction in 60-day delinquency rates for borrowers using the direct pay feature. Method's technology was key to achieving these outcomes.

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