Nav is a way for business owners to manage their business credit and get streamlined access to financing. Nav.com and its mobile app give free access to easy-to-read personal and business credit reports and monitoring all in one spot.
Nav wanted to expand the offerings in their online marketplace for small businesses to provide real time financial offers from multiple alternative lenders. The team at Nav built a “MatchFactor” algorithm to match financial products to small business based on their business credit report. The process needed to be enhanced to provide a real-time pre-approval for the matched financial product.
Drawing upon previous experience with alternative lenders, Babylon Solutions was able to support Nav’s product team by providing a suite of best practices and guidelines in order to build out a scalable engine. This enabled Nav’s internal systems to communicate with the alternative lenders that they partnered with instantaneously.
Babylon Solutions collaborated with the product team to provide the best user experience in the marketplace for clients seeking Nav’s financial products. Due to the scalable nature of the engine, future lenders and products can be added at a later date with minimal effort from the development team and product team.