Transforming algorithms into a fin-tech app that empowers entrepreneurs

Kredytmarket is a polish startup created as a part of Polska Platforma Kredytowa S.A. The main goal of this venture is to financially support entrepreneurs and help them to turn their business goals and needs into reality. Companies can apply via the Kredytmarket web app for 10 000 - 50 000 PLN loans.

What I like about codequest is that they don’t start coding until we both are 100% sure that we have the same understanding of the issue that we need to code.
ALEKSANDER WIDERA — CEO, POLSKA PLATFORMA KREDYTOWASA

Challenge

Kredytmarket contacted codequest with an idea to build an app that will make polish entrepreneurs' lives easier. The main problem in running a small or mid-size firm is maintaining financial flow, and it would be a cliche to say that it is more than painful. This is where Kredytmarket steps in by providing loan services with minimum bureaucracy and paperwork.

The main challenge in creating such a fast and easy loan app was creating a reliable and very accurate solution for analyzing and assessing the credit rating of the customers. The close cooperation and communication between Kredytmarket and codequest teams were crucial for delivering an impeccably working algorithm and the whole app.

Solution

codequest and Kredytmarket started the project with a workshop based on Design Sprint by Google - a series of meetings that allowed both teams to discuss the venture idea, expectations, and cooperation methods. The session gave both sides a clear understanding of the project priorities and crucial features of the platform.

One of the primary and most important tasks in the project was to create a 'customer credit score' feature. It was a crucial functionality that allowed to quickly and reliably assess customer credit score and allow to proceed with the loan process. codequest, in cooperation with Kredytmarket statistics Expert, created a very sophisticated set of algorithms. This way, codequest was able to provide a stable and advanced solution for customers’ credit ranking and to connect the platform with financial scoring tools that ensure full safety of the whole process.

As the project was developed, codequest knew that the ability to add new improvements to the app is a high priority for the Kredytmarket. The frontend and the backend of the app were built with this principle value in mind. During the creation of the web app, codequest shared with the Kredytmarket team the knowledge on standards-based technology and possible platform improvements in the future. This information was valuable in the next phases of cooperation - the Client was able to make informed technology choices and allowed the codequest team to develop efficiently.

Outcome

Kredytmarket app was created with UX and reliability in mind - the project goals which were met by codequest. Through challenging analytical work and valuing excellent communication with the Client, codequest created a technical base of the whole web app - algorithms for assessing credit rating.

As the development part of the project ended, Kredytmarket still cooperates with codequest on new solutions for the platform. To ensure the additional safety of the process, Kredytmarket is integrated with the AI-driven business intelligence and fraud prevention solutions. This implementation added Machine Learning into the equation and helped to create an even more reliable web app. As the collaboration continues, codequest team is happy to be involved in maintaining and adding improvements to the Kredytmarket app. Both companies share the same business mission - to help polish entrepreneurs to grow.

Kredytmarket and codequest cooperation was noticed by the industry as the application won a prestigious e-Commerce Polska Award 2017 in category an Innovation of the Year organized by the Polish Chamber of e-commerce.

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