Modernizing the experience for an [i]SMB lending platform[/i]
Akouba cut its loan application by 60% and relaunched in 6 months.
The challenge
The challenge
The challenge
The challenge
The challenge
A dated, confusing application was [i]losing borrowers and sales[/i].
A dated, confusing application was [i]losing borrowers and sales[/i].
A dated, confusing application was [i]losing borrowers and sales[/i].
A dated, confusing application was [i]losing borrowers and sales[/i].
A dated, confusing application was [i]losing borrowers and sales[/i].
Akouba is the SMB lending platform from Velocity Solutions, which serves 30M+ consumers and was acquired by CSI in 2024. Its bank and credit union clients needed a faster loan flow.
Application friction
Application friction
Application friction
Application friction
Application friction
An inconsistent, overwhelming experience drove applicants to drop off.
Multi-user applications
Multi-user applications
Multi-user applications
Multi-user applications
Multi-user applications
People in different roles had to add data, approve credit checks and sign declarations.
Dated interface
Dated interface
Dated interface
Dated interface
Dated interface
An outdated UI made users question security and lost sales to digital-first rivals.
Unclear drop-off
Unclear drop-off
Unclear drop-off
Unclear drop-off
Unclear drop-off
Stakeholders needed clarity on the source of friction.
Frontend capacity gap
Frontend capacity gap
Frontend capacity gap
Frontend capacity gap
Frontend capacity gap
Velocity needed a modern frontend team to launch alongside its backend developers.
The vision for Akouba
The vision for Akouba
The vision for Akouba
The vision for Akouba
The vision for Akouba
Velocity Solutions wanted Akouba to cut lender workflow and save up to 50% of an underwriter's time per loan, give SMB applicants a simple loan application wizard, and relaunch iteratively on Vue.js across multiple deployments.
What Praxent did
What Praxent did
What Praxent did
What Praxent did
What Praxent did
A redesigned loan flow, relaunched screen by screen
A redesigned loan flow, relaunched screen by screen
A redesigned loan flow, relaunched screen by screen
A redesigned loan flow, relaunched screen by screen
A redesigned loan flow, relaunched screen by screen
Praxent audited the legacy platform, interviewed borrowers and lenders, and rebuilt the frontend in Vue.js with an iterative relaunch to hit a launch date under 6 months.
Heuristic audit and borrower and lender interviews
Heuristic audit and borrower and lender interviews
Heuristic audit and borrower and lender interviews
Heuristic audit and borrower and lender interviews
Heuristic audit and borrower and lender interviews
Guided business structure section for complex applications
Guided business structure section for complex applications
Guided business structure section for complex applications
Guided business structure section for complex applications
Guided business structure section for complex applications
White-label design system and ADA-compliant UI
White-label design system and ADA-compliant UI
White-label design system and ADA-compliant UI
White-label design system and ADA-compliant UI
White-label design system and ADA-compliant UI
Iterative Vue.js relaunch with daily bug triage
Iterative Vue.js relaunch with daily bug triage
Iterative Vue.js relaunch with daily bug triage
Iterative Vue.js relaunch with daily bug triage
Iterative Vue.js relaunch with daily bug triage
Praxent led a full design and development handoff, so Velocity's team could keep expanding the product.
The results
The results
The results
The results
The results
A shorter application and faster underwriting
A shorter application and faster underwriting
A shorter application and faster underwriting
A shorter application and faster underwriting
A shorter application and faster underwriting
The application is 60% shorter, underwriters handle 32% fewer tasks than the market average and save up to 50% of their time per loan, and a Top 50 bank selected Akouba.
Akouba earned endorsement from the American Bankers Association.
The reimagined product offers a market-leading, seamless user experience for both the lender and borrower. We're proud to have partnered with Akouba to offer a SMB lending platform that directly impacts conversions and efficiency for financial institutions.
