SwiftCapital Leverages Salesforce Platform-as-a-Service

Aptaria helped a financial services company increase profits by moving its cash advance processing from a partner’s platform to a customized PaaS solution.

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

Aptaria designed and built Swift a Platform-as-a-Service (PaaS) system for processing cash advances, using Force.com. Called SwiftForce, this system:

  • Administers the full lifecycle of a cash advance: sales, quality control, underwriting, risk management, and funding
  • Manages workflow tightly, allowing only the appropriate staff to view/update an advance at any given stage
  • Integrates lead records so Swift can easily run and track email and direct mail campaigns
  • Processes daily payment transactions and calculates balances automatically, providing management with clear visibility into business performance
  • Measures the risk of advances automatically and alerts management when one exceeds an acceptable threshold
  • Charts trends showing the health of the sales pipeline over time

Aptaria’s PaaS solution has delivered a number of key benefits to SwiftCapital’s business, including:

  • Increased profits as it no longer has to share revenue with its competitor
  • Stronger competitive position resulting from independence from partner’s platform
  • More leads and higher lead-to-sale conversion rate resulting from more frequent, more efficient marketing campaigns
  • More advances funded – with no additional staff – resulting from time saved by integrating with credit bureaus
  • Fewer defaults as management can quickly spot high-risk cash advances
  • No hardware to buy, no software to maintain, no infrastructure to manage, no computer geeks on staff

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