The Business Development Bank of Canada (BDC) are always on the lookout for innovative & efficient solutions to help their customers achieve their goals. In this light, the BDC team were looking for a way to help entrepreneurs by providing them the loans they needed as efficiently as possible.
Cortex's fintech team collaborated with the BDC team to co-design the solution that would enable BDC Financing account managers in charge of providing simple loans to canadian entrepreneurs to go through an accelerated approval process. Among the encountered challenges, the main one was finding the perfect balance between security and efficiency. By sitting down and mapping out the whole process, the heart of the project found it's roots in the restructuring of data services and approval process for financing requests, and gave birth to a secure & novel solution.
By developing the BDC RSL app in Swift 3.0, it's availability was restricted to iOS platforms. The reason for this decision was due to the high secutiry provided by the iOS infrastructure. Mainly conceived for iPads, the app presents outstanding UI/UX and is seemlessly integrated with the other BDC internal systems (such as CRM, ECF & many more). Concrelty, the app allowed the BDC's financing process to cut it's approval time from 10 days, to 30 minutes. 240 Millions in simple loans, and a year later, the app is declared a major success by no less than Apple and reasserts Cortex's rank amongst the top fintech companies.