Case study

Creditspring saves hours per day with the Business api

💼 Industry: credit | 📈 Stage: start-up |📍 Headquarters: UK ✅ 25% reduction in manual admin and processing time ✅ Cut human processing errors by 300%

Challenge

Manual Disbursement mayhem

Small loans provider Creditspring aims to simplify financial borrowing. Instead of paying interest, customers can pay a fixed subscription and borrow small amounts to build credit and develop financial resilience.

With 10x customer growth in 2 years, Creditspring couldn’t continue processing loans manually. The team spent as much as 2 hours a day on customer transactions, not including reconciliations and error-chasing. They needed time freed up to focus on the core of their business — their members.

Solution

Perfecting payouts with the API

Creditspring needed to be able to scale without compromising their level of service to customers. So, it adopted our Business API to increase payout efficiency. The team quickly integrated this into their workflow to automate and streamline the loan disbursement process. With the Revolut Business API, Creditspring could efficiently work through batches of loans.

Results

From time wasted to time well spent

Using the Business API saved Creditspring up to 25% on manual admin and processing time, letting them disburse around 187K loans efficiently since implementation. The automation prevented manual entry mistakes and duplications, cutting errors by 300%. Creditspring maintained their level of service to customers, earning an above-average score of 4.7 on Trustpilot.

Charles McCulloch, Finance Manager • Creditspring“Without Revolut Business we would either still be performing manual payments, or have seen a decline in the level of service to customers.”