Product development for UK financial provider: virtual CFO solution for investment decision-making

CONTEXT

Each proficient consulter comes to the natural bottleneck when the world’s physical properties establish limitations: no expert has more than 24 hours a day and cannot be simultaneously in more than one place.

Swoop stakeholders, the advanced financial consulters, decided on a digital solution to become an extension of their expertise. This would allow them to cover more requests and deliver more value to customers. 

CHALLENGE

The goal was to create a platform that would perform as a virtual CFO for business owners in search of grants, loans, equity, or saving opportunities.

Small and medium enterprises should have gained easy access to funds to grow their business. And the key customer persona was a business owner or key executive with a limited understanding of how to get investments. In addition, such a Client would rather not have a professional CFO on their side or at least a CFO with decades of funding experience.

SOLUTION

The development process had two parts: Swoop stakeholders provided their competencies and expertise, and Sparkybit engineers embodied them into algorithms, easy to use by the end customer. 

A customer applied their business to the Swoop platform to see all possible funding options, loans, mortgages, equity, etc,. available for their business. A business owner saw only matching and relevant opportunities proposed based on their business financial indicators like revenue, EBITDA, EVA, Gross Margin, etc. 

Sparkybit developed the platform on .NET and integrated it with a range of accounting systems like XERO to get and analyze the data and find matching options. The custom-made algorithm provided outputs based on the estimated financial health of a particular enterprise and recommended precise investment scenarios, as a proficient CFO would do.  

The next step was to receive the pre-chosen investment, and here Swoop team guided customers manually. They ensured customers made all the needed steps and got the investment.