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Aptaria helped a financial services company increase profits by moving its cash advance processing from a partner's platform to a customized PaaS solution.
Problem: Revenue Going to Competition
SwiftCapital provides small, short-term cash advances to restaurants and other retailers. Since 2006, they've given advances to over 10,000 small businesses, many of whom would have been turned away by banks due to the recent credit freeze.
Until recently, however, Swift lacked a platform for processing these cash advances. This led them to partner with a competitor and use its processing system, creating several problems:
- Lost revenue, as Swift had to give a cut of each deal to its competitor
- Limited control of the system, preventing Swift from automatically integrating with Experian and other credit rating agencies
- Poor visibility into the deals pipeline and limited reporting, making it difficult to manage the business
