Strengthening Credit Agricole's position as leader in installment loans

Client

The history of Credit Agricole dates back to the late 19th century when the first local mutual bank of the Société de Crédit Agricole association was established. While the 20th century was primarily about building a nationwide reach in France, the beginning of the 21st century was marked by an international expansion that led the bank to the second in the world in terms of revenue.

Project background

Our task was to create a systemic solution for requesting a loan when making online installment purchases. In the shortest path, the process takes less than 15 minutes, counting from purchase in an online store to the conclusion of a loan agreement. In alternative paths, it was necessary to ensure that a customer may return to an application form that had been put on hold, for example, as a result of a longer credit decision time.

Solution

The main characteristics of the new credit application form are integrations with the workflow process, merchants, and the BlueMedia mechanism providing authentication of a customer with a bank transfer, as well as authorization of the application form with an SMS password (OTP).

We developed a dedicated mechanism that allows customers to return to the application form (after OTP authorization) at any time.

The composable structure of the application and the reusability of its elements also allowed us to rapidly deliver a credit simulator that customers can use even before making a purchase.

Worth knowing

The bank's installment loan is the most recognized product in its class.

Result

The main benefit of the solution is that it allows online store customers to apply for installment credit while shopping and obtain it within 15 minutes.

Currently, the solution is used by about 300 stores.