Balance Streamlines Credit Underwriting with Oscilar, Achieving Seamless Transition and Enhanced Flexibility
About Balance
Balance provides a B2B payments and credit solution platform that enables companies to sell to other businesses, pay their vendors, and provide credit to their customers. Their innovative approach offers a comprehensive solution for B2B transactions, enhancing cash flow and facilitating smoother business operations.
Key use case:
Credit Underwriting
Industry:
B2B Payments and Credit
Region:
Israel
Case study overview
The Challenge: Balance faced an unexpected challenge when their previous underwriting platform provider, Noble, announced they were sunsetting their product. This necessitated a quick pivot to find a new solution that could match their existing capabilities while also providing room for growth and improvement.
The Outcome: By partnering with Oscilar, Balance successfully transitioned their credit underwriting process with minimal disruption. They gained a more flexible and customizable platform that not only matched their previous capabilities but also opened up new possibilities for future expansion and optimization.
Key Highlights
Successful transition from a sunsetting platform, Noble, to Oscilar with minimal disruption
Customized customer view implementation to meet specific underwriting needs
Seamless integration with existing workflows and data sources
Reduced dependency on engineering resources for day-to-day operations
Flexibility to adapt and modify credit policies quickly and easily
Potential for expansion into KYB and transaction monitoring use cases
The Oscilar Impact
Customized Solution Development: Oscilar worked closely with Balance to develop a customer-centric view that aligned perfectly with their underwriting needs, moving away from a case-based approach to a more holistic customer perspective.Seamless Integration: The platform integrated smoothly with Balance's existing workflows and data sources, ensuring a smooth transition from their previous system.
Increased Flexibility: Balance can now easily modify and update their credit policies and workflows without heavy reliance on engineering resources.
Improved Scalability: The Oscilar platform provides Balance with the capability to handle their current volume of credit applications efficiently, with room for future growth.
Future-Proofing: With Oscilar's flexible platform, Balance is well-positioned to expand into new use cases such as KYB and transaction monitoring.
"We weren’t getting a good product with our existing vendors, so we needed a new vendor that would empower us to get a good product to encompass all the different areas of our business. Oscilar services all the problems that we have and offers plenty of opportunities for scaling the fraud solution: from gift card to deposits, to withdrawals, to virtual card issuance, transaction approvals, etc."
Yohay Pasternak Alon
An urgent need to replace a sunsetting underwriting platform without disrupting operations
Prior to partnering with Oscilar, Balance faced several challenges:
Urgent need for replacement: With their previous provider sunsetting their product, Balance needed to find and implement a new solution quickly.
Specific workflow requirements: Balance required a customer-centric view for their underwriting process, which wasn't standard in many solutions.
Integration complexity: The new solution needed to integrate seamlessly with their existing data sources and workflows.
Resource constraints: As a growing company, Balance couldn't afford to dedicate significant engineering resources to managing their decision engine.
These challenges risked disrupting Balance's operations and potentially impacting their ability to serve their customers effectively.
A customizable, customer-centric credit underwriting platform with rapid implementation and easy integration
Oscilar provided Balance with a tailored credit underwriting platform that addressed their specific challenges:
Customized customer view: Oscilar developed a customer-centric interface that aligned with Balance's underwriting process, moving away from a case-based approach.
Flexible workflow builder: The platform allowed Balance to recreate their existing workflows and easily modify them as needed.
Rapid integration capabilities: Oscilar's solution facilitated easy integration with Balance's existing data sources and APIs.
Low-code interface: The platform's user-friendly interface reduced the need for constant engineering involvement in day-to-day operations and updates.
Responsive support: Oscilar's team, including high-level executives, was heavily involved in the implementation process, ensuring Balance's needs were met.
This comprehensive solution enabled Balance to transition smoothly from their previous platform while gaining new capabilities for future growth.
Seamless transition to a more flexible underwriting system with enhanced capabilities and future expansion potential
The adoption of Oscilar's credit underwriting platform significantly enhanced Balance's operations:
Smooth transition: Balance successfully moved from their previous platform to Oscilar with minimal disruption to their operations.
Increased flexibility: The team can now easily modify and update their credit policies and workflows without heavy reliance on engineering resources.
Improved user experience: The custom customer view has streamlined the underwriting process, making it easier for Balance's team to make informed decisions.
Scalability: Oscilar's platform efficiently handles Balance's current volume of credit applications, with room for future growth.
Potential for expansion: Balance is now well-positioned to explore additional use cases, such as KYB and transaction monitoring, using the Oscilar platform.
Reliable performance: Since implementation, Balance has experienced consistent uptime and performance from the Oscilar platform.
Looking forward, Balance is excited to leverage Oscilar's capabilities further, potentially expanding into KYB and transaction monitoring. As Balance continues to grow in the competitive B2B payments and credit landscape, Oscilar remains a crucial partner in their journey to provide innovative financial solutions.
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