Case Study: Trade Ledger speeds up lending and cuts costs with MongoDB Atlas

Trade Ledger boosts loan conversions by 50% with MongoDB

Trade Ledger, a lending Software-as-a-Service provider, faced significant challenges in the financial services industry. Their goal was to make business lending faster and more profitable, but they were hindered by siloed data, difficulties in tracking data changes for auditability, and the complex enforcement of business rules across a strict regulatory landscape. To build a data-driven lending platform, they partnered with vendor MongoDB and used their product, MongoDB Atlas on AWS.

The solution implemented using MongoDB Atlas provided the flexible document data model needed to rapidly integrate diverse data sources. This allowed Trade Ledger to overcome the technology hurdles and focus on building their core lending systems. The results were substantial, with their lender customers reporting a 50% increase in customer conversions and a 50-70% reduction in costs. Furthermore, the lending experience for borrowers was transformed, reducing application times from 30 hours to just 4 minutes and cutting loan approval and drawdown times from 90 days to as little as one day.

Trade Ledger