Levo Funding is a San Diego based Small Business Financing company with a team of industry veterans at the helm. Levo provides flexible funding options, streamlined application processes, and personalized support to businesses seeking capital
Problem
After entering the FinTech industry in September 2023, with high growth ambitions, one of the initial priorities for Levo Funding was to streamline operations and boost efficiency of its underwriting department by securing bank statement analysis software.
Solution
Heron Data's analysis software significantly enhanced underwriting efficiency. In March 2024, Levo migrated to a new CRM system, which implemented Heron Data's automatic processing capabilities. This automation drastically cut processing times, from 5 minutes down to 2.9 minutes per file (41%).
This substantial efficiency gain allowed Levo Funding's processing team to increase capacity without adding new hires. Prior to launching Heron Data’s automated processing, Levo Funding was considering two additional hires in its off-shore processing team. The automation has resulted in $38,400 in cost savings in 2024.
Furthermore, average decisioning time was cut from 3.20 hours in the previous system down to 1.90 hours after migrating to Salesforce with Heron's auto-processing. This 40% reduction in decisioning time provides a significant competitive advantage.
The implementation of Heron Data's bank statement analysis software and automated processing capabilities has significantly streamlined operations at Levo Funding. Heron Data’s innovative solutions delivered quantifiable enhancements in efficiency, decision velocity and cost optimization that will benefit Levo Funding as it continues its growth trajectory.