Founded in 2012 in the wake of the credit crisis, Avant is among the alternative financing companies transforming the traditionally staid financial services industry. Avant’s easy online application process and advanced algorithms measure credit risk across more than 500 different metrics which have helped it reach triple digit growth rates since it was founded.
“NetSuite gave us the agility to adapt to change and the scalability that we needed. It’s been critical to entering new markets quickly, efficiently and effectively” Al Goldstein, CEO of Avant
GROWTH JOURNEY OF THE ONLINE BORROWER
As a byproduct of the Y Combinator startup program accelerator, AvantCredit® was founded in 2012 with the goal to improve the borrowing experience for middle-income consumers. The AvantCredit name quickly became synonymous with responsible consumer lending services, a reputation that continues to this day. Avant has since streamlined the online borrowing process and helped over 1,500,000 people get the funding they deserve. Avant is backed by some of the most well-regarded investors in the fintech space.
Avant is an online loan disruptor partnering with WebBank to offer access to personal loans for middle-income borrowers that need help with things like high-interest debt, home improvement, or unexpected expenses.
SUCCESS STRAINS EXISTING SYSTEMS
Amidst its rapid growth, Avant needed business management software that could consolidate its global financial operations with the same sophistication Avant brings to its credit scoring process, while providing complete trust in the data and rigorous controls expected by auditors.
STREAMLINED REPORTING WITH CUSTOMIZED WORKFLOWS
After a rapid, two-month implementation of NetSuite OneWorld, Avant can now make data-driven decisions with real-time access to KPIs. Streamlined financial reporting saved an estimated $120,000 per year while the SuiteCloud Development Platform, lets the business tailor workflows.
WHY NETSUITE?
With NetSuite’s OneWorld’s support for 190 currencies, 20 languages, automated tax compliance in over 100 countries and the ability to quickly spin off subsidiaries, Avant is poised to extend its disruptive business across the world. It has expanded from the US into the UK and Canada and is now targeting other geographies.
Why ONE Pacific?
We believe our wide portfolio of global fintech success stories will shed lights on the next level of success and scaling up of your business globally. As remarkable as in the Avant’s journey of scaling up, many of our clients have experienced measurable results in 100 days with their worldwide business consolidated on a single source of truth with real time business intelligence. Why can’t yours be the next?
Case study adapted from netsuite.com/portal/customer-testimonials/avant-financial.shtm
*The figure was publisehd on Avant’s official website on 26 January, 2021.