[
/customers
·
Small business lending
]
Fernway now decides on a loan in 11 minutes instead of 3 days.
customer
Fernway
[ 01 ·
Underwriting time
]
before sluice
3 days
→
after sluice
11 min
Figures reported by the customer, first full month after launch. Demo company and illustrative data.
[ 02 · in their words ]
We used to wait on PDFs. Now the statement is in before the applicant closes the tab.
Daniel Reyes
CTO, Fernway
Fernway lends working capital to small businesses in the US and Canada. Underwriting used to start with applicants emailing six months of bank statements, which analysts then keyed in by hand.
Fernway added the Sluice Link to the last step of the application and pulls 12 months of transactions with GET /v3/transactions. Their risk model reads the categorized data directly.
Median time from application to decision fell from 3 days to 11 minutes. Analysts now spend their time on the files the model flags, not on data entry.
The team also uses account details from Northgate Bank and Cobalt Ridge to set up the first repayment debit in the same flow.
[
03
·
more customers
]
Other teams, other numbers.
Sluice® Template
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