CASE STUDY // INTEGRA FINANCIAL

Integra Lowers Cost and Reduces Effort To Convert Loan Prospects

They’ve generated remarkable improvements in the efficiency of acquiring and qualifying leads.

$35,000

Saved in the first week.

By using the API and altering their qualification and acquisition process with just one of the four lead suppliers.

35K

Automated queries the first week.

By being more selective on which leads they buy, they are not only saving money by buying fewer leads, but they are also saving money by not paying a third party to vet low-quality leads.

$1 Million

Projected annual savings.

Just based on the costs of one supplier. From here, they will begin to change the process with their other three lead suppliers for additional savings.

CHALLENGE

Vet and qualify loan prospects in 30 seconds.

The small personal loan space is fast moving, fraught with risk, and extremely competitive. Leads are often acquired en masse. So an organization often has as little as 30 seconds to vet viable leads and decide whether or not to purchase that lead.

Conventional process makes it nearly impossible to input all the necessary information quickly enough time to make an informed decision on which leads to actually purchase.

APPROACH

Utilize automated real-time processing.

Qlik AutoML™ is informed by records of which loans were funded. Automated machine learning recognizes patterns that lead to successful loan fundings.

The resulting model helps qualify leads. Working together with the data science and customer service teams at Qlik®, Integra exposed this lead scoring model to an API and connected it to their Loan Management System (LMS).

With this new connection, each time a lead now submits a form to the LMS, the API automatically queries the model in Qlik AutoML and returns the probability a given loan will convert.

RESULTS

ML filters loan prospects and reveals probable outcomes.

By being more selective on which leads they buy, they are not only saving money by buying fewer leads, but they are also saving money by not paying a third party to vet low-quality leads.

Integra is also using data to predict which customers are likely to default on their first payment. This information gives them the ability to be proactive with customers, implement preventative measures before a customer defaults, and create a more positive lending experience overall.

WHAT THIS MEANS FOR YOU

Get the essential value from your data.

Integra took data that was already accessible, but hard to extract value. They unleashed Qlik AutoML and Qlik Cloud® to turn that vast amount of data into meaningful market and customer insight. Better still, it happens blazingly fast.

Every enterprise has the data. Yours does. But making it meaningful takes tools and action.

And the sooner you get started on it, the sooner that value will become realized.