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CASE STUDY: Online Loan Processing and Distribution System


PayDay One is a Dallas-Fort Worth-based short-term loan provider. With several location throughout the metroplex, PayDay One is a leader in providing a low cost alternative to most competitors in the market.


PayDay One approached AriaMedia to pioneer a solution allowing short-term loans to be approved and issued entirely online without the human assistance and fax requirements that many online providers currently have.


AriaMedia developed a sophisticated application using SSL security allowing for applicants to submit an application and be approved in minutes online. If approved the user would automatically receive the loan in his or her bank account often in a matter of hours. The application uses sophisticated business rules to score the applicant and verifies user data through a third-party credit check provider in a matter of milliseconds. Debits and credits are made to the user’s account via automated ACH processes through local banks.


Active Server Pages
Visual Basic
Javascript
MS SQL Server 2000
SSL Security

 


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