Tripling Velocity Commercial Capital’s loan originations with new technology

What We Did

A young company, Velocity Commercial Capital (VCC), needed a more efficient way to accept and price loans from brokers. We partnered with VCC to automate the loan intake process and transform their technology stack—positioning the business for continued growth in the process.

Our team:

• Designed and built a new data warehouse to enable easy sharing, collaboration, and 360-degree visibility
• Implemented Salesforce Sales Cloud and Salesforce Engage & Social Studio, creating operational and marketing efficiencies
• Automated the loan intake process with nCino’s loan origination platform, tailor-made to suit VCC’s business policies and guidelines
• Established an online portal for interacting with brokers

The Challenge

Velocity Commercial Capital, a residential and small business loan origination company, faced a common problem: their technology hadn’t kept up with the pace of their business.

It had been nearly a decade since any real improvements were made to VCC’s technology stack. To grow their business, they needed to improve their broker experience—first and foremost by automating the loan intake process to make it easier to price and accept loan applications.

This and other improvements required new processes, technology solutions, and data infrastructure, designed from the ground up. West Monroe’s multidisciplinary approach helped guide the project every step of the way.

An Undeniable Approach

Executives at VCC came to West Monroe ready to start from scratch. We began by building a data warehouse that would allow departments across the organization to share and collaborate on a single set of information. With a 360-degree, real-time view of customer data, employees could streamline processes and develop insights to improve the broker experience.

This foundation also set the stage for a large suite of new technology platforms. Integrating Salesforce Sales Cloud and Salesforce Engage created new operational and marketing efficiencies, while nCino’s loan origination platform automated the loan intake process—establishing a new and efficient way to accept and price loan applications from brokers.

The team didn’t stop there. West Monroe moved swiftly to help build an online portal, specially coded for VCC’s products, to engage with brokers and give them an unmatched experience.

Our team worked in tandem with VCC employees, drawing on both technical and mortgage business expertise to tailor these platforms to the organization’s particular users, requirements, policies, and guidelines.

Returns You Can Measure

650 brokers registered with the new portal in a single month, enabling them to submit new loans, add documents, update information and track the status of their loans.

VCC received 855 new loan applications in the first 3 weeks of the new platforms going live—20% more than in a typical month. 88% of these resulted in loans, compared to the average of 60-70%.

In all, streamlined processes, increased data visibility and new technologies have allowed VCC to provide a cutting-edge experience brokers won’t find anywhere else.