Advanon is a leading online factoring provider in Switzerland providing SMEs with the financing they need. We were involved in the development of their platform for the initial three years, supporting the company in building the initial version of the platform and a credit management system, to the scale-up version and the innovative version ready for the future.‍Version 1: the MVPThe development of the first version of the credit management system was a balancing act between how much data to request the client to fill in and how much could be added manually by the credit officers in the back. Building advanced API integrations was out of the question as the clients only cared about getting the cash their businesses needed. The initial platform was build using Ruby on Rails the initial scoring model was done in Excel. ‍Version 2: the scale-upThe next phase was to build a model and a system that could be scaled up for thousands of invoices being financed each day. To build it, further expertise was added to the team, this time in the form of a Senior Data Scientist coming from Risk Solution Network - the organization building the credit models for multiple of the Swiss banks. In rough terms, the structure was done in three steps: 1) A traffic light rating checking if the data provided could be processed in the model as is or if was to be manually reviewed 2) a segmentation framework putting the client into the right segment of companies, and 3) a model adapted to the different segment of companies. Version 3: the future Alongside building a scalable system, we started experimenting with state-of-the-art technology to create a model that would separate the company from the competition. The groundwork had already been laid when the MVP was built, by ensuring that a solid database with a wide variety of data points was being built from the very start.

TaskOur task has been to help Kompar build a platform that makes the process of comparing business loans as easy as comparing flight tickets. To make this happen, we had to break it down into specific sub-tasks, some of which have been:SME Front-end: building an interface that makes the loan application process, loan overview, and signing process easy for business owners.Lender Front-end: designing and implementing an interface that allows lenders to get a good overview with the right data points to complete their credit decisionBack-end: creating a back-end structure that automatically pulls thousands of data points for identification, credit decisions, KYC/AML management, etc. from API services within seconds whilst the user is filling in it’s applicationAPI service: putting in place an API service that lenders can connect to in order to allow for automated credit decisions and underwritingResultsTogether with Kompar, we have developed a platform that enables business owners to make a loan application and receive offers from +20 banks within seconds. Lenders can either apply automated underwriting through our API or by some of the custom credit decision models we have built for them. The user experience is great and the conversion rates have increased significantly. In addition to this, a lot of the back-end work has been removed through the automation of administrative and regulatory tasks. Our work with Kompar continues as the company is looking to expand internationally and always strives to improve the user experience. We’re proud to be working with Kompar and are looking forward to continuing to do so in the years to come.