Start-Up Loans

Start-Up Loans: speeding up access and simplicity for the customer with Salesforce

Start Up Loans partnered with Credera to enhance the customer experience and improve loan conversions through more streamlined back-end processes with Salesforce

At a Glance

“This project was an astonishing achievement, showcasing synergy, collaborative effort and proactive commitment from Credera to the joint goal of a successful project delivery.”

Andrea Nadinić, Senior Product Manager, Start Up Loans

Start Up Loans is a subsidiary of the British Business Bank and deliver the Government’s start up loans programme providing finance and support for businesses who struggle to access other forms of finance. Credera worked with Start Up Loans to improve the customer experience when applying for a business loan. Credera streamlined Start Up Loans’ back-end processes to reduce delays to partnering start ups with delivery partners (investors).

The Challenge

A journey to improve the customer experience.

  • Disjointed customer data 

  • Siloed back-end systems

  • Superficial data visibility, particularly around customer behaviour

  • Complex Expression of Interest forms

  • High drop-off rate between registration and application stages

  • High number of issues with start ups being allocated delivery partners

  • Slow duplication identification process, causing high risk of error and slowing down loan application approvals 

The Solution

A journey to improve the customer experience.

  • Extended Salesforce Community Cloud to allow for improved self-registration when applying 

  • Designed and implemented new user interface and experience for the community to help drive user engagement

  • Enabled better tracking of the source of applicants for additional customer insight

The Results

A journey to improve the customer experience.

  • 50% reduction in delivery partner allocation issues, meaning start ups will be able to access the loans more quickly

  • Customer conversion with registration to application drop-off rate reduced by 60%

  • Deduplication process time slashed by two thirds – meaning start up requests can be processed more quickly and accurately

In 2021, we held a webinar with Start Up Loans which highlighted how they transformed their customer journey using Salesforce. Watch the recording on-demand.

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