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Case Study


Brendan Coons is the Director of Risk at Torpago, a disruptive financial technology solution empowering companies by modernising their credit and spend management. Torpago chose Heron Data to empower their Credit team to maximise their revenue and decrease losses by enriching banking data for their underwriting and portfolio management processes.

Outcomes Achieved

  • 50% Increase in Revenue resulting from dynamic limit setting
  • Up to 96% Underwriting Time Saved from "received" to "approved"
  • Decreased Delinquency Rates Below 1% for 2022 approval vintage, by:
    • More accurately assessing applicants in the initial underwriting stage, by rejecting cases of suspected fraud and underwriting to a higher cash coverage ratio (increased by up to 10x)
    • Monitoring the portfolio to decrease credit limits and exit earlier, for customers whose financial position is degrading

The Challenge

Prior to using Heron, the Torpago team was restricted in three key ways:

  1. Low Data Diversity: A low number of key financial data points they could utilise to make a decision for their applicants’ non-Torpago accounts
  2. Manual Summaries: Everything needed to be manually pulled together into a spreadsheet to recreate a simple cash-based P&L, which required a high level of manual effort for non-ideal results
  3. Hard to Monitor Over Time: Portfolio monitoring and dynamic limit setting was difficult, as manually pulling and manipulating the data was very cumbersome

The Solution

Now, Heron Data enables Torpago to lend with much greater confidence, due to:

  1. Wealth of Data: A multitude of powerful calculated metrics and enriched financial data points displayed in Heron
  2. Automated Cash-based P&L: Creation of an automatic cash-based P&L “takes literally a matter of seconds” and enables the team to fully understand and assess the company’s financial position prior to making any credit decisions
  3. Easy and Powerful Portfolio Monitoring: Heron enables tracking of Torpago’s book of business performance over time, enabling dynamic limit setting. This allows Torpago to maximise gains for customers whose finances are improving over time and minimise losses by exiting early for customers whose position is degrading

Working with Heron has been a hugely successful partnership for us at Torpago. We’ve been able to process applications more efficiently, reducing underwriting turnaround time by 96%, and improved our cash coverage ratio for customers by up to 10x.

Heron enables us to make safer decisions more confidently at the point of initial underwriting, as well as powering our ability to react quickly to live changes in portfolio risk via dynamic limit setting, which is especially important to us in the current market. We’re excited to continue to grow with Heron!

Brendan, Director of RiskBrendan Director of Risk