Business Checking Underwriting
Hockey stick feature that propelled Kabbage serviceable market from online sellers to every small business.
Kabbage
Revolutionizing small business lending with real-time underwriting.
Kabbage offered SMB lines of credit with instant underwriting using data. Up to this point we were only able to underwrite Amazon, Shopify, and eBay sellers. How do we expand our market to serve all small businesses?
The Solution: Yodlee enabled bank account customers to grant permissions to 3rd parties to view their transactions.
Result: Grew lending from $53,000 in 2011 to $5B by 2018. Acquired by American Express in 2020.
The product and design team recognized this as an opportunity and wanted to move fast to get something to market.
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Design Process
Business Checking Underwriting
Released
SMB owners could now link their business checking account allowing Kabbage to instantly view revenue transactions and use that data in their underwriting to grant lines of credit.
Feature Released
Between 2011 and 2015, Kabbage put out $400M in loans. Post-feature release, by 2018 Kabbage lent out over $5B (1,050% growth) with 82% connecting business checking accounts. This feature opened our addressable market from online retailers to all small businesses overnight.
2011 - 2018
Kabbage was an amazing ride with just a handful to folks celebrating each new customer that came through the door to 2018 where we were serving over 100,000 small businesses. I had the honor of building and evolving the brand, product experience, marketing collateral, and product alongside some of the finest people in the business.
Helping Small Businesses Grow
The product design and product management teams I led were laser focused on the customer's needs. How do we save them time so they can focus on what matters most, running their business.
Work Examples
Result
When hired in 2011, Kabbage had issued $53,000 in loans to online sellers. By 2018, Kabbage had over 100,000 small business customers and delivered over $5 Billion in lending. American Express acquired Kabbage in 2020.
