Koombea Enables FinTech Platform to Grow Revenue

Payix is a leading FinTech company that provides collections tools, payment processing resources, and business intelligence solutions to U.S. lenders and auto dealers.

Offering white-label services and real-time loan management system (LMS) integration, Payix helps their clients connect with borrowers and improve payment collections and communication – especially with their secure, engaging, and affordable mobile application.

From the beginning, Payix has recognized the benefits of supercharging its development capabilities by working with an outsourced development partner. However, working with a third-party development firm doesn’t always come without risks.

Prior to partnering with Koombea, the team at Payix found themselves in a complicated situation with their current outsourced development partner who – although having exceeded expectations earlier in the relationship – was beginning to show signs of strain. Over the span of just a few weeks, both the quality of the work being produced as well as the issue resolution responsiveness had drastically declined, directly impacting Payix’s ability to achieve strategic goals.

After scouring the market for qualified nearshore development partners and interviewing potential candidates, Payix decided to partner with Koombea.

Koombea’s deep and verified expertise was substantial, but their ability to quickly step in and rescue Payix from a disintegrating situation was a key factor in the decision making process.

Within hours of formalizing the relationship, Koombea took charge and began to transition Payix away from their current development partner, ultimately completing the transition sooner than expected and with no disruption to business operations.

Payix hasn’t looked back since.

In the past, creating new client environments took Payix months; they had to code each new environment from scratch, and build the needed infrastructure in AWS.

Furthermore, as the company attempted to scale, the Payix team was having to dedicate more and more internal development resources to onboarding new clients.

It soon became clear that the rigidness of Payix’s current platform, combined with the lack of professionalism and competency of their previous development partner, was costing the company opportunities to increase revenue.

Payix needed to rapidly meet market demand, but was being held back by their outsourced development partner.

Prior to partnering with Koombea, Payix’s outsourced development team lacked the development capabilities needed to build a platform that could sustain company growth and drive revenue.

The team had a myopic approach to technology, leveraging only a narrow set of technology stacks, which limited Payix in terms of feature development.

On the other hand
Koombea’s unique Agile approach to full stack development leverages whichever technology stack is most conducive to building and supporting the best digital solutions possible.

Koombea developed a platform with a UX that is simple and easy-to-use, and that is reliable for clients. Thanks to their ongoing partnership with Koombea, Payix now has a reliable development partner who supports their ongoing software needs.

Since working with Koombea, Payix has evolved beyond lengthy processes put in place by their prior development team. Agile development has enabled them to improve their solutions on a rolling basis.

Client onboarding time has decreased drastically, which means revenue generation begins much sooner and the company can support its strategic growth initiatives.

Payix’s digital solutions will only grow stronger in the future, as they now have access to Koombea’s development resources moving forward. If Payix has additional project requirements, Koombea will build, test, deploy, and update new features as needed.

When asked how he felt about working with Koombea, Payix CEO Chris Chestnut had the following to say about the relationship: