The Client
We were tasked with creating a system for automating the acceptance
or rejection of loans in the medical space. The system was required to
gather financial and other documents and pre-approve based on these.
Business challenge
The medical loans business faces challenges that center on speed of
data processing, accuracy and adequate customer experience. These include:
Slow loan approvals or refusals
With manual data processing and poor
access to records, loans take an unnecessarily
long time to process, with poor results for companies and their customers.
Lack of trust in data processing
Institutions lack ways to share data in a trusted, secure manner, while customers
are cautious about sharing personal data with loan providers.
High operational expenses
Disorganized data flows and complex work flows absorb costly manual work hours,
while obtaining data and storing it requires IT implementation and staff.
Fragmented patient and credit histories
Clinical and financial histories are fragmented and unclear, with crucial
documents distributed across multiple organizations’ databases.
This project faced specific challenges concerning data flows and traffic management.
Complex integrations
Selected as the basis for loan application management,
the Salesforce LeadFlow engine is powerful and customizable but requires extensive
integrations with data sources to function adequately for our purposes.
Data batching and transferring
Asynchronous data batching and transferring from one
application to another required careful setup
and process design to ensure the system functioned smoothly and effectively.
Key features of the system
The system delivers key benefits for the medical loan industry, including:
Rapid decision-making
Loans can be approved or rejected based on automated
creditworthiness checks, streamlining and accelerating the process.
Trusted data source
Secure, accurate and fast, with updates in real time, the system finally
delivers a trusted source of clinical and financial data.
Customer experience
Give customers the intuitive experience they
expect from applications, with a clear, easy application process.
Reduced operational expenses
The system reduces the need for time-consuming and costly
manual checking and data-sourcing, reducing costs as well as saving time.
How it works
The requirement was to create a system that
could automate complex multistage processes reliably and efficiently.
The system also needed to be quick to learn and easy to use, to ensure
uptake among the target group. Salesforce was selected as the basis for
the system for its clean, intuitive user interface, familiarity, and
predefined workflows. Mapping the new structure onto that provided by
Salesforce accelerated development and gave us access to Salesforce’s array
of third-party integrations,
AI augmentation, analytics tools and desktop and mobile applications.
1: Mapped onto Salesforce
The system maps company structure and loan processing
stages onto preexisting Salesforce steps like lead and prospects,
with Salesforce’s permissioned access
supporting company hierarchy like Director and Account Manager roles.
2: Data transfer from third-party system
Data is transferred between Salesforce and third-party systems using
internal SQL database triggers, then added to the sfName object table.
3: Scheduled tasks processing
After the SQL database trigger event, a scheduled SSIS task
is processed and synchronized with Salesforce’s database.
The system offers rules-based automated rejection or preliminary
approval, saving operator time and
accelerating productivity. Depending on the object type, the result could be:
4-1: New Lead
A new lead, opportunity, contact, or account is added to
Salesforce and linked through the value of the Legacy Field ID.
4-2: Update existing
An existing record is updated, first in a temporary
SQL table and then in the Salesforce database.
Lightpoint built the system with:
3 developers, 1 QA engineer, 1 Project Manager
Tech stack:
Database:
MSSQL Server, MongoDB
Other:
Salesforce Classic, Salesforce Lightning, SSIS, SOQL
Results
The system is effective in leveraging Salesforce to
create a medical loans processing tool that’s rapid,
secure, accurate and streamlined. Hours of manual work
are saved, with staff redirected to more value-adding activities, and
customers express a preference for the simple, easy-to-use experience.
Ready to build something like this for your business?
Get in touch with us.
