LENDO - Fast-tracking expansion with dedicated developers
Background
Lendo was founded in 2007 with a vision to increase transparency in the loan market through digitalization and by helping customers make more informed decisions. Today, Lendo is the leading loan broker in the Nordic region, making it possible for customers to submit a single loan application and easily compare offers from multiple banks. Their operations are distributed across three different teams in Poland, Denmark, and Norway.
Along their expansion journey, Lendo contacted us at Fastdev to assist with ongoing improvements and to help them create the fastest and most optimized digital platform possible.
Challenge
Lendo wanted to address various needs related to the ongoing maintenance and expansion of their digital platform as they sought to upgrade to better versions, increase speed, and improve the overall user experience. To accomplish this, they needed to strengthen the capacity of their development teams.
Solution
We supplemented Lendo’s development team with a total of 12 developers and two managers, all working full time. As an extension of the Lendo team, they assist with the ongoing development of the platform and intermittent problem-solving. This includes testing code, finding vulnerabilities, recommending new functions, demonstrating system features, completing bank integrations, and maintaining streamlined technical communication across country teams.
Fastdev team members have also created new website versions for Lendo’s Norway, Denmark and Poland markets, and helped roll out a new central platform. In 2012, they created a Norwegian version of the Swedish Lendo. A complete solution with new functions based on requirements and input from the business side. In 2018, the construction of a completely new micro-service began which included rewriting an “old” solution to these micro-services, integrating with new bank partners, and keeping the current code in production. In 2014, Fastdev also launched a project for Lendo Finland where a new copy of the site was built and adapted to the new market. It was developed for back-end, front-end, analysis, tracking, data security with GDPR compliance, and more. In 2018, Fastdev and Schibsted (owner of Lendo) started projects for two new countries: Denmark and Poland. A version of the existing system in Finland was recreated and adapted to the two markets. Also in 2018, Fastdev team members built a new user interface for Lendo to increase server redundancy, eliminate certain security issues, and upgrade the system to bring it technologically up-to-date.
Results
Having Fastdev developers and technical managers on the team has proven successful for Lendo, and the partnership continues even today. Now, Lendo has the technical reinforcements needed to swiftly address any challenges that come up, and can rest assured that their most important asset—their digital platform—is always in top working order.
“The guys we work with are real professionals and we enjoy their brainstorming ideas in problem solving situations,” says Evgenia Molchina, Product Manager at Lendo Finland. “They bring their input to the product development process, and stick to the schedule.”
Lendo users in Sweden, Norway, Denmark, Finland and Poland use the platform to select the cheapest loan based on the amount desired and number of years.
The loan calculator shows Lendo users how much they can save each month by refinancing their consumer loans and credit card debt. A chat function is available for instant access to customer service, should any questions occur.
Lendo instantly presents offers from 16 different banks. Users can easily compare terms in a transparent way and choose the offer that is best for them.
Lendo users can even use the site to compare credit card offers. Lendo collects information on all the credit cards in the marketplace and displays the essential information in one place.
