Credit Analysis Software for Automated Borrower Solvency Verification

About Our Client

The Client is one of the leading Swedish software product companies providing secure credit analysis tools and solutions.

Challenge

Usually, borrowers have to send the copies of their passport, utility bills, salary slips, and other documents to the bank in order to prove their identity and solvency. Our Client wanted to introduce a software product that would allow banks to verify borrower solvency in real time by automatically obtaining and analyzing the borrower credit history. In order to do that, the Client needed to design and develop a server-side loan origination solution that provides integrations with multiple banking systems.

Solution

In just 7 months, the team of ScienceSoft’s two senior Java developers and a project manager experienced in lending software development created a stable, scalable, and user-friendly credit management system. The solution provides the following capabilities:

• Smooth integration with a large number of Internet banking systems of multiple banks in various countries (Sweden, Finland, Germany, Poland, Denmark, etc.).
• Support for different kinds of authorization processes.
• Real-time aggregation of the required data (two-year transaction history; loans; name, address, and social security number; telephone number; credit cards and other commitments) from the relevant Internet banking systems.
• Automated data conversion into a unified format.
• Comprehensive lending data analytics.

ScienceSoft’s team ensured the extensive automatic unit testing coverage and provided clear documentation that simplified product usage and support.

Results

With ScienceSoft’s help, the complex professional credit analysis software was successfully introduced to the market.

Technologies and Tools

Java, Apache Maven 2.3, Apache Tomcat 7.0, Git 1.7, Oracle JDK 1.7, Javadoc, Checkstyle, Selenium 2.20, JUnit 4.