Rapid scaling for rapid results

When global fintech Trade Ledger planned to expand its existing LaaS portfolio, it needed a solutions partner with fintech expertise and a global reach and vision; and it reached out to Vacuumlabs.

With two major initiatives in the roadmap, our guidance and support not only enabled Trade Ledger to rapidly scale its product development but resulted in Trade Ledger selecting Vacuumlabs developers to become a permanent part of a collaborative development program that’s going from strength to strength.

Squad-based scrum

Methodology implemented from day 1

7
Vaccumlabs

team members onboard

2500
hours

of development delivered in first four months

Team enhanced

with engineering and fintech skillsets

Filling the SME lending gap

Trade Ledger is a fintech offering turnkey invoicing solutions and providing a global LaaS platform designed to plug the significant gap in the lending market to SMEs.

Trade Ledger’s research shows that 57% of SME loan applications are currently either abandoned or declined, often because a true picture of their credit risk profile isn’t available; this equates to a funding gap of $1.5-5.4 trillion.

Trade Ledger’s Lending-as-a-Service (LaaS) platform enables a shift towards reinvigorating this market and transforms its efficiency via data-driven lending. Integrating complex structured data streams, it’s targeted at lenders to provide a credit risk assessment profile of SMEs applying for loans.

Opening the capacity bottleneck

Trade Ledger knew it had an amazing idea to add value to its lending solutions offering – but it wanted to deliver this to a high standard in a short time frame. With its business buoyant and undergoing rapid growth, it needed to expand capacity in order to meet its ongoing product roadmap commitments whilst adhering to strict quality guidelines.

With more capacity needed in several different key development areas, Trade Ledger needed expert guidance – and expert help. But how can you get access to the work capacity and specific skill sets you really need and ensure that these will integrate well with your existing in-house team? And the consultants you can trust to add value to your vision?

What Trade Ledger did was to bring in an Agile team from Vacuumlabs to partner with them every step of the way. Vacuumlabs experts work in deep collaboration with clients so that they can move fast, learn, and iterate as they build world-class products together with you.

When looking for a partner, we prioritized finding an organization we could truly partner with. We gave Vacuumlabs a specific area of responsibility – the risk engine. We’re extremely pleased with how this partnership is progressing. They delivered this on target in under four months and they’ve made a huge difference to our overall development team and are now integral to it.

MARTIN MCCANN
CEO AND CO-FOUNDER OF TRADE LEDGER

Vacuumlabs hit the ground running

Finding a team with advanced skill sets in engineering, squad-based scrum development and fintech when you most need them is extremely tricky. 

As fintech experts, Vacuumlabs already had the highly-qualified people fully equipped to meet Trade Ledger’s development needs. They were immediately ready to take on these challenges: they were able to hit the ground running straight away. Vacuumlabs added our expertise by creating a third team composed solely of our own experts to bolster Trade Ledger’s existing squads; after initial positive feedback in achieving the first brief, we strengthened our presence by adding more people to its London-based core in-house team.

Rapid development from rapid deployment

Vacuumlabs developers worked successfully both as an independent team to design and build a credit risk assessment engine, and our engineers successfully integrated into Trade Ledger’s existing in-house teams – becoming core to the development process.

Not only did we need to provide a high-scope greenfield technical design solution for Trade Ledger’s LaaS platform, we also needed to deliver this at speed and get this functionality for the platform up and running much faster than Trade Ledger would have otherwise achieved alone.

For Trade Ledger we needed to provide high-quality software and soak testing, designed to operate within the policy and standards framework of the highly regulated banking industry.

Our partner prioritized transparency and clear communication channels – integral to our way of working. And in us, they sought to work with a team who could provide high quality technical design solutions and coding expertise. We deliver on quality and speed.

Scrum methodology

Followed from day one

Built in under four months

In consultation with Trade Ledger’s design team

Greenfield build of backend

Java + Spring upgraded with Kotlin, React and MongoDB

Existing frontend components incorporated

Accelerating development and cutting time to market