Process

Ranqx powers your digital small business lending by focusing on critical lender and customer pain points – origination, underwriting and monitoring ongoing business performance

Originate

Our streamlined fully-digital user experience captures all the information needed to complete a small business lending decision in just a couple of minutes. Ranqx has access to online accounting and credit data needed to drive decisioning and underwriting.

It works like this…

  • Together, we agree the user experience you want for your small business customers
  • Small business applies at your website – anywhere, anytime, any device
  • Applicant inputs a handful of personal and company details
  • Applicant permissions data into the Ranqx-powered analytics engine
  • APIs do the heavy lifting to aggregate and analyse data from multiple sources

And offers features like these…

  • Simple, frictionless digital application process takes just 2 minutes to complete
  • Outstanding, modern user interface wows your small business customers
  • API integrations with multiple data sources enables Ranqx to access financial data and power multiple product offers
  • Configurable user interface allows lenders to tailor the customer journey

To provide benefits like these…

  • Your brand aligned with modern customer expectations
  • Simple, engaging customer experience improves loan completion rates
  • Quick decisioning engages applicant immediately
  • Increase return on investment
  • Supports wide product offering
  • Low operational and brand risk via staged implementation processes
  • Get to market in as little as 8 weeks
Arrow ↴

Underwrite

Configurable decision engine enables a lender to complete auto-decisioning and advise customer outcomes in minutes, delivering dramatic efficiency gains and cost reductions. Or, if needed, Ranqx can securely transfer all applicant data directly to a lender’s own decision engine – the choice is yours.

It works like this…

  • Ranqx configures each lender’s customer journey and decision engine to meet the lender’s credit policy and risk requirements
  • Tailored to the products you want to offer – anything from an unsecured overdraft through to a credit card or a secured loan
  • Easy to alter configurations if policy or credit rules change

And offers features like these…

  • Receive financial information directly from the small business’ online accounting system
  • Data codified into standardised financial ledgers to create hundreds of data points
  • Additional data collected from other credit and business directory sources
  • Fast decisions eliminate manual collection, keying and spreading of business accounts
  • Configure every lender’s decision requirements to fit product suite, risk policies and market needs
  • Supports overdraft / term loan / letter of credit / credit card / cashflow loan / working capital loan products

To provide benefits like these

  • Small businesses enjoy certainty with decisions made in minutes
  • Configurable decision engine is highly flexible to support your lending policies
  • Increased accuracy and speed of data collation via fully digital data capture
  • Up-to-date financials from management accounts (e.g. Profit and Loss, Balance Sheet) provide most relevant information
  • Deeper insights into small business performance
  • Auto-decision in Ranqx – with secure transfer of payload data into lender systems
Arrow ↴

Monitor

Ranqx can synchronize and monitor the small business’ online financials in real-time, powering ongoing analysis of business performance.

It works like this…

  • Ranqx synchronizes with data providers to regularly collect up-to-date business accounting and other information
  • Powers a broad range of financial analysis and ratio calculations
  • Ratios used to drive proactive covenant monitoring according to each lender’s financial criteria and review cycle

And offers features like these…

  • Over 20 common key financial ratios can be reviewed and alerted
  • Powers up-to-date cashflow forecasts
  • Portfolio analytics and insights to highlight lender risk exposures

To provide benefits like these…

  • Up-to-date financial picture powers proactive performance notifications
  • Leading indicator of business performance reduces default risk
  • Uncover new lending opportunities
  • Help small business customers optimise business funds