Case Study: Velocity Solutions reduces SMB loan application friction with Praxent

Velocity Solutions cuts loan application flow length by 60% with Praxent

Velocity Solutions, a provider of technology solutions for community banks and credit unions, faced challenges with its Akouba digital lending platform, including a dated user interface and a high-friction loan application process that caused user drop-off. They partnered with Praxent to modernize the experience and drive growth for their SMB lending product.

Praxent redesigned and developed a new user experience, conducting a UX audit and user research to create an intuitive application flow and a white-label design system. The solution was built with Vue.js and launched within six months. This resulted in a 60% reduction in application flow length and a 32% decrease in underwriting tasks, leading to significant sales growth for Velocity Solutions, including selection by a Top 50 Bank.

Velocity Solutions