CashCall, Inc., was launched in 2003 with a very simple mission-to be the first online lending company that could approve a loan within minutes, day or night, and deposit the funds directly into the customer’s bank account within hours, including loan amounts of up to $20,000. But working in an undefined business space posed unique challenges, in addition to the usual challenges faced by start-up companies.The company’s developers knew that traditional technologies would be too rigid to support this innovative new business. CashCall engaged IBM and IBM Business Partner CCS Technology Solutions to implement a foundation of service oriented architecture (SOA) built on powerful IBM technologies. The result was a flexible and robust IT platform, enabling CashCall to quickly and easily respond to consumer demands.

Although the California-based company may have had a simple mission, their vision for growth was nothing short of ambitious. Led by a visionary CEO and an experienced technology team, CashCall sowed the seeds of success by building an infrastructure that would accommodate rapid growth and change. “Our founder and CEO, Paul Reddam, said he wanted to be able to handle 30,000 new loans a month. So we had a grand vision from the very beginning. Every decision we’ve made has been with an eye to that volume.”

The grand vision and long-term planning have paid off. Leveraging SOA and event driven architecture (EDA) on IBM hardware and middleware, they’ve grown to a US$750 million company with 600 employees in just a few short years. Today CashCall originates 15,000 loans a month and services more than 100,000 loans at any given time. “It’s hard to believe we’re halfway there,” says Ghourdjian. “And we already have the infrastructure in place to handle the 30,000 loans that Paul Reddam envisioned.”

This unique environment helps give CashCall the agility they need to keep a competitive edge in the lending market. By leveraging the flexibility of the architecture, CashCall was able to streamline and automate this process. Now the underwriters receive a complete application in a frozen electronic format. They review the information on the screen, then select one of three options with the click of a button: approve the loan, deny the loan, or send it back for more information. The automated process has helped CashCall achieve the company’s benchmark level of service-loan approvals within 15 minutes. Automating processes like these helps CashCall deliver high levels of service, drawing in new customers and building customer loyalty.

With a successful architecture in place, CashCall continues to expand at a rapid pace and now operates in more than a dozen states. The company works hard to maintain market dominance by continually rolling out improvements and reacting quickly to market changes and business needs. From complicated modifications like automating the underwriting process to minor changes to business rules, CashCall has the flexibility to respond. “Business changes at the speed of light,” says Ghourdjian. “We’re ready.”

CashCall, Inc. is a consumer lending company that is revolutionizing the lending industry with its fully automated online lending program. Its state-of-the-art technology allows CashCall to wire loan proceeds directly into a customer’s bank account within hours of applying for a loan. Established in July 2003, CashCall is based in Fountain Valley, Calif. The privately held company offers loans to consumers in more than 46 states and its loan portfolio consists of approximately 119,000 loans for $435 million.With CashCall it is now possible to borrow thousands of dollars for any purpose-in as little as thirty minutes-via the internet. CashCall, a new online lending institution, makes it easy to apply for unsecured personal loans up to $10,000 and have the funds directly deposited into a checking account, in most cases, in under an hour.

In developing and launching CashCall, the executive team sought out a technology partner with superior experience in system engineering, application integration, process automation, and business consulting to build a revolutionary solution for online lending. “The people at Cogility Software earned my trust quickly by showing me how their solutions would work together smoothly without a lot of on-going, complicated application development,” commented Paul Reddam, Founder and CEO of CashCall. Paul Reddam was willing to invest on a next-generation application integration solution that connects applications, databases and workflows, while at the same time reducing maintenance and support costs as loan volumes improve.

To maximize use of available intelligence and discover even more advanced methods of underwriting, finding, and servicing a loan, CashCall needed an integration strategy poised to accommodate future changes and enhancements. “To keep ahead of the competition and grow as fast as consumer lets us, means eliminating the custom, one-off solutions we become, accustomed to in years past,” stated Paul Reddam.

More information about CashCall can be found at www.cashcall.com./

CashCall is better about this than many other companies. Payday loan providers don’t even disclose their APR rate, you have to do the math to figure out a $20 fee for a two-week loan on $100 has an interest rate of over 500%. Tax preparation companies didn’t even originally let customers they were actually taking loans when they did “Rapid Refunds”.
CashCall lists financial numbers of its loans very clearly on its Rates Page. It is linked to on its main navigation bar. It even lists the payment amounts and quantity.
Of course, this is only in regards to their website. CashCall has an extensive televisionmarketing campaign and ordering directly through the phone might be a lot different. Please comment on this thread if you have any experience in this matter.
CashCall does have a very high interest rate of 99%. But it is much cheaper than similar loans. Providers of these type of unsecured, no-credit-check loans need to charge a high interest rate because of the increased default rate.

СashCall is a consumer credit company specializing in unsecured loans at very high interest rates (limited by law in some states but as high as 96% in Casey’s case).

At CashCall, we understand that life can be unpredictable. That’s why we offer a quick and convenient application process so you can get the money you need, when you need it, even if you don’t have perfect credit. CashCall offers personal loan of $2,600 that is not secured by personal property or collateral like a home or car. You can have your loan wired to your checking account in one business day. In some cases, you’ll get the money on the same day you apply for the loan.

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