A case study by Praxent^⌘

Accelerating Credit Bureau Integrations for an Autolender Fintech

An autolending CUSO unlocks more loans for credit unions with credit risk analytics solutions and secondary underwriting.

Leveraging proprietary data and advanced decision analytics, the company offers a safe method to increase near and non-prime auto loans without adding risk to an institution’s portfolio. Seeking to accelerate their product roadmap and ensure scalability, they were in search of an outsourced development partner to grow and evolve their existing platform. Praxent was chosen for its systematic approach, local connection, and extensive experience.

SCOPE

Technical Design
Microservice design, development, and deployment
Development team member staffing

Results

New credit reporting microservice
CRA Integrations to Experian, TransUnion, Equifax
Integrations to Kelley Blue Book, LexisNexis, NADA
Launched 2 weeks early

The challenges

Integration with third parties

Develop a new credit reporting microservice seamlessly integrated with third-party systems.

Scaling product development

Accelerate product roadmap and enhance scalability by outsourcing development, finding a trusted partner, and ensuring effective collaboration.

Platform transformation

Transitioning from a monolithic architecture to a microservices approach, rewriting UI components, and adopting containerization.

THE VISION

Driving lenders forward

Their protection program for lenders enables banks and credit unions to offer auto loans for near-prime and subprime borrowers. The company engaged Praxent to design, build, and launch a new credit reporting microservice aligned with their platform’s transformation.

Technical Design

Praxent ensured stakeholder alignment and spearheaded the delivery of sprint commitments, maintaining a proactive approach toward project milestones.

Throughout a focused six-week period, the team conducted a series of crucial activities, including:

Kick-off and discovery meetings
Delineation of technical and design requirements
Identification of optimal tools and platforms

Microservice design, development and deployment

Over five months, the team undertook several critical initiatives: bi-weekly agile development sprints, rigorous acceptance testing, and controlled deployment phases.

These included directly integrating three major credit bureaus to enable seamless data transformation into a unified format.

Why Praxent

A collaborative environment

The company’s collaboration with Praxent was marked by active participation, including attendance at Praxent’s daily standup meetings and joint DevOps sessions.

#AlwaysDeliver

Meghan Matson

Principal Delivery Lead, Praxent

Our engagement extended to contributing to the company’s planning sessions, ensuring alignment and shared objectives. We consistently met all six weekly sprint commitments throughout the project, demonstrating high reliability and dedication to project success.

Results

New credit reporting microservice

CRA Integrations to Experian, TransUnion, Equifax

Integrations to Kelley Blue Book, LexisNexis, NADA

Launched 2 weeks early

Command your Future.

Tim Hamilton

Founder and CEO, Praxent

Working together, we were able to help this automotive lending fintech overcome the challenges associated with potential staff attrition while quickly expanding its microservices architecture. We are proud to have supported them as they empower banks and credit unions to approach auto loans and better serve their communities more strategically.