Myndbend™ Process Manager helps an award-winning financial services organization unite its teams across multiple departments
An award-winning fintech organization processes billions of dollars worth of loans for its customers each year. Each loan application is initiated by a support agent and involves a complex multi-step approval process, including C-level signoff.
The organization was previously handling this process using disconnected systems, like emails and spreadsheets. But after deploying Myndbend Process Manager in Zendesk, it now uses a single ticketing system to escalate loan applications across multiple departments.
An award-winning fintech organization was processing high-value loans across
departments using slow, disconnected systems.
The organization began using Myndbend Process Manager in Zendesk to streamline and automate its approval processes.
Support agents can now initiate multi-step approval processes and escalate requests to multiple departments with a few clicks.
Despite being a relatively young, small enterprise, the US-based organization is making waves in the fintech world. With only a few hundred employees, it has become a leading provider of Paycheck Protection Program (PPP) loans, serving over 106,000 small businesses during the Coronavirus pandemic.
The organization also supports an ecosystem of consumer-facing businesses that offer customers a ‘buy now, pay later’ purchasing model. The two sides of its lending model—PPP loans and consumer markets—have grown rapidly to make the organization a leading lender in North America.
Relying on disconnected systems
One of the organization’s challenges was getting multiple departments to collaborate efficiently. When a customer support agent receives a loan application, that request must go through a complex multi-step approval process. However, the organization did not have a centralized system for escalating the loan applications to different departments.
Instead, agents relied upon outdated methods, like manually emailing requests to department inboxes. This meant that employees could not easily see which department or individual was dealing with a particular loan request at any given moment.
Sizing up new support software
Looking to improve collaboration, the organization considered using Zendesk’s ticketing feature to escalate loan applications. However, agents would only be able to escalate requests to other departments by reassigning the ticket—and would therefore lose visibility over the request.
Alternatively, agents could add another employee as a ‘follower’. But this would result in the ‘follower’ being able to see the whole ticket, including information they did not have clearance for.
It seemed like Zendesk was not a viable solution—until the organization discovered
Myndbend Process Manager. This Zendesk app allows users to create sophisticated child tickets for any support request. And because it syncs data between parent and child tickets, agents can escalate requests to other departments without losing visibility.
Syncing up information across departments
After deploying Myndbend Process Manager and Zendesk, the organization found new ways to collaborate across departments. For example, support agents began using child tickets to allocate loan requests to the fraud department. This was a vital activity, as the organization must perform fraud checks on every loan application.
When the agent creates a support ticket for the loan application in Zendesk, they can now use Process Manager to create an additional child ticket. With the child ticket capability, the fraud team only sees the information added to the child ticket, and nothing more.
Plus, information relating to the child ticket is automatically synced in both directions. So, if the fraud team adds a comment or attachment to the child ticket, the support agent can see the update at their end.
Coordinating the right colleagues
Aside from the fraud team, each loan application must go through checks and approvals from various other departments. However, the organization had previously relied on disparate systems, like email threads and manually updated spreadsheets, to coordinate its teams.
With Myndbend Process Manager, agents can automatically reach the right people by using child ticket templates. When the agent creates a child ticket, they add details about the loan in customized fields in the ticket menu. Process Manager will then automatically populate the child ticket, add a subject line, and send the ticket to pre-determined teams.
In addition to saving time for agents, this system ensures that the departments follow the organization’s processes together. And because every request is logged in a simple, automated format, there’s no way for requests to get mis-assigned or lost in email chains.
Simplifying multi-stage approvals
Before a loan can be approved or denied, the organization needs it to pass through several layers of approval in sequence. The organization was able to automate this entire approval sequence by using Process Manager. When the first approver gives the loan request their OK, Process Manager automatically moves it to the next approval tier.
Using approval groups in Process Manager, agents can also allocate requests to entire teams. This is helpful for the financial organization, whose largest loans must be approved by one of three people on the executive team. When their approval group receives a request, any of the three members can approve, deny, or comment it via email, without logging in to Zendesk.
The result is that support agents can always escalate their requests to the right people, including C-level executives, with a few clicks.
With all its teams now connected by a single system, the organization can process loan requests in a simple, coordinated way. And if a customer needs an update, agents can instantly get an overview of the loan request’s status by checking the support tickets.
Having all the requests centralized means that the organization now has a reliable audit trail too. For example, employees can see how many requests are flagged by the fraud department, or how many open loan requests they have, all with a few clicks.
With the organization continuing to grow fast, it will likely need to scale up its processes even more. Systems like Myndbend Process Manager and Zendesk will play an important role in keeping its staff on the same page—and providing the great service its customers love.