Transend Leverages Oscilar to Deploy Credit Models in Hours Instead of Weeks with ⅓ of the Engineering Resources and 0 Downtime
About Transend
Transend provides a technology platform that enables suppliers to offer private-labeled working capital solutions for their buyers. In today's business environment, suppliers need effective ways to help their customers pay, and Transend has brought the perfect option to market.
Their innovative approach results in increased sales and inspired loyalty for suppliers, while accelerating their accounts receivable. Buyers benefit from access to incremental credit, promotional terms, and immediate cash flow improvements. Additionally, Transend's funding partners gain access to commercial loans with premium returns, all without incurring origination or servicing costs.
Key use case:
B2B Credit Decisioning,
Customer Onboarding
Industry:
B2B Lending
Region:
United States
Case study overview
Key Highlights
• Risk model updates now take less than an hour instead of weeks: 1/10 of the time compared to previous team experiences
• Engineering hours required are significantly reduced: 1/3 of the work hours needed, compared to previous team experiences
• Rapid speed to market with complex integrations and customized rule sets
• Seamless implementation of bank partner-level compliance review and testing
• Comprehensive portal for efficient case management
• Flexible platform enabling quick adaptations to evolving business needs
• Successful launch of MVP without delays in Product and Tech roadmap
The Challenge: Transend faced the exciting task of building and launching a B2B payments and working capital fintech from scratch. They needed to create risk and decision workflows tailored to their evolving supplier base without consuming a significant portion of their Product and Tech roadmap or delaying their MVP launch.
The Outcome: With Oscilar, Transend dramatically reduced implementation time, streamlined their credit decisioning process, and gained the ability to make rapid updates to their risk management strategies, all while maintaining 100% uptime.
The Oscilar Impact
Significant Reduction in Implementation Time
Oscilar's platform enabled Transend to implement and update their credit decisioning processes in mere minutes to an hour, compared to the four weeks and multiple sprints and teams required by other platforms.
Resource optimization
Transend requires only about 1/3 of the resources (engineering hours) they would have needed to implement changes, freeing up valuable time and personnel for more critical tasks.
Rapid Testing and Deployment
The team can test and implement updates in less than 1/10 of the time it took in previous experiences, allowing for quick adaptation to market changes.
Improved Reliability
Since implementation, Transend has experienced no downtime, ensuring consistent service for their customers.
"In previous experiences, making even small changes took us 4 weeks with engineering, involving multiple sprints for a simple credit optimization. Now, we can do it in an hour or less. We’re currently processing hundreds of applications quickly, which really shows how effective Oscilar has been. The system works flawlessly, and has been a game changer for us."
Anik Patel
Building a fintech from scratch with limited resources
Prior to partnering with Oscilar, Transend faced several challenges in launching their B2B payments and working capital fintech:
Time and resource constraints
Building a credit decisioning system from scratch would have consumed a significant portion of Transend's Product and Tech roadmap, potentially delaying their MVP launch.
Need for flexibility
As a growing startup, Transend required a solution that could evolve with their changing needs and expanding supplier base.
Integration complexity
Transend needed to integrate multiple data sources and create custom workflows, which would have been time-consuming and complex to build in-house.
Limited engineering bandwidth
With only about 10 people in the company, Transend couldn't dedicate large teams to managing their decision engine, unlike larger competitors.
Costly API calls to different data vendors
Companies with unknown or smaller volumes typically encounter more adverse pricing per API call to different vendors.
These challenges risked slowing down Transend's go-to-market strategy and hindering their ability to compete effectively in the fast-paced fintech industry.
A customizable, low-code platform for rapid deployment and iteration
Oscilar provided Transend with a tailored credit decisioning platform that addressed their specific challenges and allowed for quick implementation and easy updates. Key components of the solution included:
Low-code interface
Oscilar's platform allowed non-technical team members to configure and update the decision engine, reducing reliance on engineering resources.
Rapid integration capabilities
The solution facilitated easy integration of multiple data sources, including credit bureaus (TransUnion, Experian, Equifax) and proprietary data, streamlining the decision-making process.
Customizable workflows
Transend was able to create and modify decision trees easily, adapting their credit policies quickly as needed.
Robust testing capabilities
The platform provided tools for A/B testing and sandboxing, allowing Transend to optimize their decisioning process continually.
Case management functionality
Oscilar's Case Manager allowed Transend's Operations team to efficiently adjudicate pended credit applications, obtaining additional information to make informed decisions.
Responsive support
Oscilar's team provided hands-on support, even working weekends to ensure Transend's successful launch.
This comprehensive solution enabled Transend to launch their MVP quickly and efficiently, while maintaining the flexibility to evolve their credit decisioning process as their business grew.
Rapid implementation, resource efficiency, and scalable growth
The adoption of Oscilar's credit decisioning platform significantly enhanced Transend's operations, resulting in substantial improvements across various aspects of their business:
Dramatically reduced implementation time: Transend can now implement and update their credit decisioning processes in minutes to an hour, compared to the weeks or months required by traditional methods.
Resource optimization: The company now requires only about 1/3 of the resources they previously needed to implement changes, freeing up valuable time and personnel for other critical tasks.
Increased operational agility: The ability to test and implement updates in less than 1/10 of the time of previous experiences allows Transend to adapt quickly to market changes and opportunities.
Improved reliability: Since implementation, Transend has experienced 0 downtime, ensuring consistent service for their customers.
True partnership: Oscilar's team has become an extension of Transend's own, providing responsive support and strategic input to help drive the company's vision forward.
Scalability: As Transend grows, Oscilar's platform provides the flexibility to expand and refine their credit decisioning processes without requiring significant additional resources.
Time savings: In months with active changes and optimizations, Transend estimates saving approximately 10-15 hours of engineering or other team time.
Cost savings: Under Oscilar’s resale model for many data partners, Transend can now get the advantage of Oscilar’s bulk-negotiated pricing per API call, even with relatively smaller volumes.
The adoption of Oscilar's credit decisioning platform significantly enhanced Transend's operations, resulting in substantial improvements across various aspects of their business:
Looking forward, Transend is excited to explore further use cases with Oscilar, including fraud detection, qualifying marketing/sales leads, compliance assurance and dashboarding, and portfolio potential analysis using emerging AI models. As Transend continues to grow and evolve in the competitive fintech landscape, Oscilar remains a crucial partner in their journey to put partnerships back into payments.
"Managing an emerging B2B payments fintech startup is never easy. Every day brings new challenges and complexities. But with Oscilar, we've found a true partner. Their intuitive platform, rapid support, and willingness to customize solutions have been game-changers for us. While we may have 99 problems to solve in fintech, thanks to Oscilar, our decision engine isn't one of them. They're not just a vendor; they're riding shotgun with us on this journey."
Anik Patel
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