How immigrant bank Stilt / Onbo runs loan operations with LogicLoop

How immigrant bank Stilt / Onbo runs loan operations with LogicLoop

Stilt is a fast-growing neobank for immigrants, that spun off Onbo as a banking partner to other fintechs. Around their Series A, they were growing their personal loans business 20% month over month. This created significant pressure on key team members to distribute operational load. 

Before LogicLoop

Stilt’s Head of Credit, Risk and Analytics, Ankit Tanwar, seeded the team responsible for compliance, fraud and loan operations. Engineering didn’t have bandwidth to automate, so as an automation-focused person, he started hacking together small Python cron jobs. Eventually the team grew, as did his team’s dependence on him. These cron jobs were brittle and time-consuming to build integrations and logic for. 

Using LogicLoop

When Ankit tried out LogicLoop, he immediately wanted to port his hacky scripts over. The team started writing rules in LogicLoop for: 

  • Loan origination: triggering text, email and app nudges to qualified users encouraging them to accept loans they’re eligible for 
  • Loan servicing: triggering text, email and app nudges to at-risk borrowers to lower their chances of becoming delinquent
  • Risky transactions: prototyping and monitoring risk scores for risky transactions  
  • Retargeting: encouraging previous successful borrowers to re-apply for other loans

Over the last few months, these rules have brought immense value to Stilt:

  • LogicLoop now powers loan operations with ~50 dashboards and 100+ rules tracking portfolio performance, delinquency and risk scores
  • Loan origination time reduced from 3-4 days to a few hours, increasing the number of qualified people accepting loans by 50% 
  • Retargeting was wildly successful, 40% of loan revenue comes from returning customers

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