Scaling Loan Processing and Empowering Growth through MicroServices Architecture

Client Organization

Our US-based client is dedicated to boosting businesses by offering customer financing solutions. Focusing on dealer needs, the client ensures swift credit decisions, fair bids, and quick payment turnaround times to sustain cash flow. Their 7,500+ dealer network benefits from tailored financing programs and unwavering support, reflecting the client’s mission to be the go-to for financing, fostering success grounded in respect, honesty, and fairness.

Project Brief

The project revolved around developing and enhancing the NDP (New Dealer Portal), which serves as an application platform for dealers or lenders to log applications on behalf of customers. It involved complex third-party integrations with various tools and a transition from a Monolithic architecture to a MicroServices architecture.

KeyBusiness Needs And Challenges

Key business needs and challenges of transitioning from a Monolithic architecture to a MicroServices architecture:

The primary requirement was to create a seamless process for Dealers/Lenders to manage customer applications efficiently.
Integrating multiple third-party services (such as Transunion, Experian, Spectrum, FSSI, Rubex, High Cotton, Lyons Commercial Data, etc.) presented challenges in ensuring smooth data flow and compatibility among various platforms.
The need to automate document organization and storage for loan applications to reduce manual effort and improve accuracy.

A robust system was necessary to handle loan payments securely and efficiently, integrating with multiple payment vendors.
The migration from a monolithic architecture to a MicroServices architecture required careful planning and execution to ensure minimal disruption while improving scalability and flexibility.

Solutions

Our expert team at Sigma collaborated closely with the client to improve scalability and flexibility by successfully migrating the platform from a monolithic architecture to a Microservices-based approach:

Developed a robust integration framework enabling seamless communication between NDP and various third-party services (Transunion, Experian, Spectrum, FSSI, Rubex, High Cotton, Lyons Commercial Data, etc.).
Our team of experts integrated Rubex API with Decision Lender, automating folder creation and document organization based on loan application status, eliminating manual sorting.

Integrated multiple payment portals (FSSI, Coalesce Payments, STEPpay, Credit card payment processing API) into the Payment Form for secure and efficient loan payment handling.
Executed a phased migration from monolithic architecture to MicroServices, ensuring continuity in operations while improving scalability and flexibility for future enhancements.

Benefits

Enhanced Efficiency:
Automation of document management and streamlined loan processing significantly reduced manual effort, improving overall operational efficiency.
Improved Accuracy:
Automation reduced errors in document handling and enhanced data accuracy in loan processing.

Scalability and Flexibility:
The transition to MicroServices architecture increased system scalability and flexibility, enabling easier integration of new features and adaptability to evolving business needs.
Better Customer Service:
Faster loan processing and improved payment handling led to better customer service and satisfaction.

Tools & Technologies

Third-Party Integrations: Transunion, Experian, Spectrum, FSSI, Rubex, High Cotton (HC3), Lyons Commercial Data, e-File Cabinet (Revver), Coalesce Payments, STEPpay, VisualCron, DL4 (Decision Lender).	APIs: Spectrum API, Rubex API, ABA routing number verification API, Credit card payment processing API.Pentaho PDI
Automation Tools: VisualCron for automated task scheduling.	Architectural Transition: Migration from monolithic architecture to MicroServices architecture.

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