Nintex Case Studies Blender's Automation Revolution: Accelerating Loan Processes with Nintex

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	Blender's Automation Revolution: Accelerating Loan Processes with Nintex Nintex

Blender's Automation Revolution: Accelerating Loan Processes with Nintex

Nintex

Technology Category	Platform as a Service (PaaS) - Application Development Platforms Sensors - Autonomous Driving Sensors
Applicable Industries	Consumer Goods Retail
Applicable Functions	Maintenance Procurement
Use Cases	Leasing Finance Automation Smart Parking
Services	Cloud Planning, Design & Implementation Services
Challenge	Blender Financial Technologies, a fintech startup based in Israel, aimed to build an automated technology platform devoid of manual work processes. The company, which started in 2014, had the goal of creating a consumer lending platform that was fully integrated, driven by automation, and housed exclusively on the cloud. The challenge was to build an online platform that was efficient, fast, and easy to use, with no manual or offline processes. Being a fintech startup, Blender had the advantage of not having to deal with legacy systems, but the task of creating a platform that was both consumer-friendly and compliant with the regulations of the financial services industry was still a significant challenge. Read More
About Customer	Blender Financial Technologies is a fintech startup based in Israel. The company was founded in 2014 with the goal of creating a consumer lending platform that was fully integrated, driven by automation, and housed exclusively on the cloud. Blender operates across four countries - Israel, Lithuania, Latvia, and Poland. The company offers a range of consumer lending services through their digital platform including P2P, BNPL, car loans, and bank loans. The business operates online only, with no retail branches. Despite having fewer than 50 employees, Blender services 60,000 customers and processes 2,000 new loans every month. Read More
Solution	Blender built an online consumer credit platform that transacts peer-to-peer (P2P) lending, Buy Now Pay Later (BNPL), car loans, and bank loans digitally. The platform was built around the cloud, eliminating manual processes. Salesforce was used as the core banking platform and was fully integrated with Nintex DocGen, which was used to manage contract creation. This unique, integrated platform allowed in-house operators to view loan applications through a single-screen interface, rather than having to work across multiple screens from various technology providers. The platform also facilitated fast loan approvals, with a loan from Blender being approved within 30 seconds. Nintex DocGen was used to manage the digital generation of all contracts, which were built directly within Salesforce. Automation enabled over 100,000 contracts to be processed annually. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Sensors - Autonomous Driving Sensors

Applicable Industries

Consumer Goods

Retail

Applicable Functions

Maintenance

Procurement

Use Cases

Leasing Finance Automation

Smart Parking

Services

Cloud Planning, Design & Implementation Services

Challenge

Blender Financial Technologies, a fintech startup based in Israel, aimed to build an automated technology platform devoid of manual work processes. The company, which started in 2014, had the goal of creating a consumer lending platform that was fully integrated, driven by automation, and housed exclusively on the cloud. The challenge was to build an online platform that was efficient, fast, and easy to use, with no manual or offline processes. Being a fintech startup, Blender had the advantage of not having to deal with legacy systems, but the task of creating a platform that was both consumer-friendly and compliant with the regulations of the financial services industry was still a significant challenge.

About Customer

Blender Financial Technologies is a fintech startup based in Israel. The company was founded in 2014 with the goal of creating a consumer lending platform that was fully integrated, driven by automation, and housed exclusively on the cloud. Blender operates across four countries - Israel, Lithuania, Latvia, and Poland. The company offers a range of consumer lending services through their digital platform including P2P, BNPL, car loans, and bank loans. The business operates online only, with no retail branches. Despite having fewer than 50 employees, Blender services 60,000 customers and processes 2,000 new loans every month.

Solution

Blender built an online consumer credit platform that transacts peer-to-peer (P2P) lending, Buy Now Pay Later (BNPL), car loans, and bank loans digitally. The platform was built around the cloud, eliminating manual processes. Salesforce was used as the core banking platform and was fully integrated with Nintex DocGen, which was used to manage contract creation. This unique, integrated platform allowed in-house operators to view loan applications through a single-screen interface, rather than having to work across multiple screens from various technology providers. The platform also facilitated fast loan approvals, with a loan from Blender being approved within 30 seconds. Nintex DocGen was used to manage the digital generation of all contracts, which were built directly within Salesforce. Automation enabled over 100,000 contracts to be processed annually.

Impact #1	The implementation of the automated platform has driven growth and profitability for Blender. The company has been able to triple its lending and double its revenue in a year without increasing its headcount. The platform has also improved the customer experience by providing speed and convenience. Customers can get a loan approved within 30 seconds, which is particularly beneficial for big purchases like cars. The use of Nintex DocGen for contract creation has also streamlined the process, allowing over 100,000 contracts to be processed annually. The end-to-end solution is robust, secure, and easy to use, which helps facilitate fast approvals for Blender’s merchants and end-user customers.

Impact #1

The implementation of the automated platform has driven growth and profitability for Blender. The company has been able to triple its lending and double its revenue in a year without increasing its headcount. The platform has also improved the customer experience by providing speed and convenience. Customers can get a loan approved within 30 seconds, which is particularly beneficial for big purchases like cars. The use of Nintex DocGen for contract creation has also streamlined the process, allowing over 100,000 contracts to be processed annually. The end-to-end solution is robust, secure, and easy to use, which helps facilitate fast approvals for Blender’s merchants and end-user customers.

Benefit #1	Tripled lending in one year with no additional headcount
Benefit #2	Doubled revenues in one year
Benefit #3	Loan approval available in 30 seconds

Benefit #1

Tripled lending in one year with no additional headcount

Benefit #2

Doubled revenues in one year

Benefit #3

Loan approval available in 30 seconds

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Overview

Blender's Automation Revolution: Accelerating Loan Processes with Nintex

Operational Impact

Quantitative Benefit