Financial goals are best reached with long-term planning - be it savings plans, carefully arranged financing, or any and all forms of insurance coverage. When it's part of a plan and all goes well, the results intended are the ones achieved. All very good, right?
But even the best laid plans at some point go awry. Or things simply happen ("it happens') - it's a part of life.
Those can be known as "crunch times," especially when the solution is a financially-driven one that calls for getting a short-term loan. That crunch time can be caused by an accident, a natural disaster, or even a great opportunity that can't be passed up, and in that moment the last thing the customer wants to hear is that you can't help them.
That's the scenario that plays out for most customers of Advance America, a leading provider of short-term loans for people in situations not normally served by banks or other traditional lenders. They can be payday loans, online loans, installment loans, title loans and more. The one critical common denominator to all those scenarios is that they call for real-time responses. So in order to keep their business viable, Advance America needed to find a way to respond effectively in real-time to their customers' crunch times.
In order to do that, Advance America uses analytically-driven real-time decisioning with the goal of being consistently fair, thorough, and most of all, fast. On any given day, they process approximately 20,000 decisions and average about 15-20 milliseconds per decision. They also process about 1,300 new customers each day, averaging about 3 seconds per decision in those cases. Read More