Case Study: Leader Bank Delivers Best-in-Class Digital Lending Solution, Doubles Underwriting Speed, and Achieves High CSAT Scores

In November 2020, Leader Bank, a community bank in Arlington, MA, with over $2 billion in assets, embarked on an ambitious project to develop a digital lending product in collaboration with a major US-based Asset Management Company. This initiative aimed to integrate Leader Bank’s services seamlessly into the partner’s diverse digital financial platform. Faced with the challenge of creating a cohesive and efficient user experience, Leader Bank recognized the need for a robust digital infrastructure. Despite their limited in-house technical resources, with only one developer, the bank was determined to build a solution requiring numerous APIs – a daunting task in complexity and scale.

The PortX platform offered a perfect blend of powerful integration tools at a manageable cost, complemented by a managed service model. This collaboration facilitated the completion of the project in six months, transforming Leader Bank into the central communication intermediary for the service. The results were remarkable: a significant reduction in underwriting processing time from seven days to just three, and a soaring customer satisfaction rate of 93%. Leader Bank’s journey with PortX revolutionized its approach to digital lending and positioned the bank at the forefront of technological innovation among its competitors.

“The PortX engineering team was amazing to work with throughout the project. They were always responsive and willing to jump on a call with our team and our partners to diagnose any issue. I think that level of commitment from a partner is unheard of in our industry.”

– Larry Lou, CTO, Leader Bank

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