Explore the digital transformation of a hard money lender

Use Case Description

Washington Capital Partners (WCP) is a leader in hard money lending and strategic investment knowledge for real estate investors. WCP's primary business process is providing investors with quick access to loans to finance their real estate investments. While traditional lending processes take up to 30 days, WCP must close loans in as little as 48 hours. WCP must operate quickly and efficiently while gathering information, minimizing risk, managing third-party vendors, and consistently validating all information received for accuracy.

Proveo has developed a series of robust applications for WCP that will widely broaden their reach and ability to perform rapid loans nationwide. WCP's data was found to be inconsistent and primarily unstructured. Proveo identified this problem, developed a custom API connector, and deployed machine learning algorithms to automatically classify data types across hundreds of thousands of rows of data. This allowed our development teams to quickly integrate data in days when it would have usually taken months. Additionally, this effort is now an enterprise capability that enables WCP to ingest data from other entities and organizations efficiently and quickly. Furthermore, Proveo identified areas for automation opportunities in their operations, which resulted in reduced loan processing times from three days to three minutes. Automating operational processes has lead to reduced risk and improving cash flow

Services Provided:

  • Development (Low Code/No Code)
  • UI/UX Design
  • Project Management

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