FIBR cover 1
Case studies

The digitization of a neobank led to a boom in business clients

FIBR strengthened its position in the British marked by automating banking processes faster than the company’s competitors.

About FIBR

FIBR is a VC-backed startup with a platform connecting SMEs with regular banks offering business loans. The company has been digitizing the traditional lending process with The Software House since Seed A. Now FIBR can offer affordable and suitable loans to business owners in under 5 minutes. Such service speed remains unbeaten for its competitors.

Country

United Kingdom

Industry

Fintech

Timeline

08.2020 - Ongoing

FIBR is a VC-backed startup with a platform connecting SMEs with regular banks offering business loans. The company has been digitizing the traditional lending process with The Software House since Seed A. Now FIBR can offer affordable and suitable loans to business owners in under 5 minutes. Such service speed remains unbeaten for its competitors.

5

minute-loan process

acquired business clients

Euros issued in loans

The challenge

Since loan financing leaves no room for error, most organizations employ auditors to do it manually. A business can wait 60 to 90 days on average to get a clearance (Fundera).

FIBR had the ambition to introduce a total automation of the obsolete loan process in support of executives hoping to receive credit much faster. The bar was set at 5 minutes for an applicant to receive dozens of offers.

Each loan application required a background check with several institutions and pages after pages of data cross-referencing. FIBR needed a 100% confidence in the loan borrower.

FIBR’s development team faced unbending business requirements that digital banks face. It was the time to call for backup.

Partnership goal To build a digital bank focused on excellent user experience with the use of cloud computing

Before

FIBR’s staff needed direction in development to ship releases faster, update their architecture, and implement cloud automation with no flaws

After

With the help of a software partner, the product turned from an MVP into a true bank that acquired [number] business clients throughout the process

The Software House hand-picked professionals who joined FIBR's team under a hybrid model

We worked on:

Team formation

FIBR’s market expansion in the UK required more Fontend/Backend developers, DevOps, and QAs on board.

The Software House filled the talent and knowledge gap in weeks where the company would have needed months to do so. The line-up included 3 QA Engineers, 8 Developers, 2 DevOps, and 1 Senior Project Manager.

They joined FIBR’s ranks under their PO’s leadership but also worked directly with the CTO CEO, and the PM.

Remi FIBR

They brought in the right talent at the right time with the right expertise. We’ve been happy with the quality of their work.

Rémi Tuyaerts

Chief Technology Officer at FIBR

Our partnership

For over a year, our joint team has been adding features, automating bank processes and ensuring of no-compromise cloud security and performance. FIBR continues to acquire tens of thousands of clients who already received €[number] in financing.

Technology choice

React (frontend), Node + Python (backend), AWS, AWS call, Serverless, and BitBucket.

What FIBR achieved

We first refined the system’s 3-year-old code to prepare it for integration with new cloud services. For that to happen, the Software House introduced planning, sprint, and retro meetings.

The team then redesigned FIBR’s website. We build an automated background-check service for loan applications that supported the company’s rapid user growth.

Features we introduced included a custom admin/user panels, a backend API for frontend, and AWS Connect in place of Twilio for the call center. Next, we integrated Salesforce with AWS Connect.

The team also switched from Buddy to BitBucket for pipelining which dropped deploy time from 1.5 hours to only 10 minutes.

The next step

The Software House is transferring FIBR’s services onto several AWS clouds to meet the resilience and security requirements set by investors.

Reach a breakthrough in your project just like FIBR did

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