bridging finance

Lending platform for UK’s fast-growing bringing loans lender who offers bespoke short-term finance solutions to property investors.

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01/

Description

One of the leading bridging finance company in the UK, offers bespoke short-term finance solutions to property investors in the UK. The company is in operations since 2012 and are constantly transforming the bridging finance experience for borrowers and partners, so they can access the finance they need in a fast and flexible way. To date they have lent in access of £240m to borrowers.

BUILT

2018

Industry

Finance

Location

UK

SERVICES PROVIDED

- Lending platform development
- Business process workflow automation
- Financial reporting and analytical tool
- Responsive website development

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Requirements

  • 1Workflow automation for the borrower & brokers to apply and process loans online
  • 2Incorporate digital signatures to reduce paperwork and speed up the application process
  • 3Removing dependency of third-party island systems and applications to perform all operations on a single portal
  • 4Companies House integration for fetching the registered company details
  • 5Online KYC / AML checks
  • 6Reporting module – including Funder Statement, Borrower Statement, Valuation report, Loan TAP report, etc.
  • 7Establish a centralised communication channel within the application
  • 8Centralised document repository
  • 9Online payments options
  • 10Accounting software integration
  • 11Roadmap development of marketplace for funders, borrowers and brokers

03/

Challenges

  • 1Understanding the bespoke business processes for bridging finance
  • 2Learning financial calculations algorithms and implementation logic
  • 3Dividing the process into modules and manage bespoke development
  • 4Convert the long complex loan application forms into simple & quick web forms for borrowers & brokers
  • 5Managing workflows and versioning of all the applications with special conditions and connecting all the parties (brokers, borrowers, admin & valuers) on various stages for processing
  • 6Testing of calculations by performing hundreds of test cases for each operation
  • 7Integration with various third-party systems like accounting software, Experian (KYC / AML Check), Payment Gateway, Companies House Integration, DocuSign (digital signature)

04/

What we did

Project Management Approach

  • 1Leveraging on agile methodology for the iterative development process
  • 2Management and execution of product roadmap using various project management tools
  • 3Weekly online sessions with product owner for understanding of the flow, and business processes
  • 4Weekly online calls for task prioritisation & sprint planning
  • 5Bi-weekly sprint review & retrospective meetings with scrum master & product owner
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Product Development

  • 1Development of workflow automation tool for loan processing
  • 2Incorporated various features & functionalities for approved loan:
    – Loan Fees Module
    – Borrower & Funder Statement
    – Loan Extension
    – Net to Gross & Gross to Net calculations
    – Loan Redemption
    – Loan mark as default
  • 3Implementation of a centralised communication channel to perform all the communications from the portal
  • 4Comprehensive reporting tool for various reports like loan reports, income & expense reports, etc.
  • 5Seamless integration with third-party applications like Companies House, DocuSign, Postcode Finder
  • 6Enabled borrowers, brokers & funders with hands-on information about their loans and applications via their respective portal

Future Roadmap

  • 1Centralised document repository
  • 2Payment Gateway Integrations
  • 3KYC / AML checks via Experian Integration
  • 4Accounting Software Integration
  • 5Dashlet integration with custom widgets development
  • 6Roadmap development for marketplace for funders & borrowers
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Outcome

+ 1 %
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  • 1

    Online Application Forms

    Converted long, complex & offline loan application forms to simple, easy & quick online forms
1
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  • 2

    Optimised Loan Processing & Approval Workflow

    End to end backoffice function to process & manage loans like Quick Quote, Indicative Term, Application Forms, AIP (approval in principle), Loan Disbursement
+ 1
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  • 3

    Extensive Reporting Module

    Reporting module to have detailed reports & analytics like Funder Statement, Borrower Statement, Valuation report, Loan TAP report, income & expense reports, etc.

1 .000.000
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  • 4

    Online Portals

    Implementation of platforms for borrowers, brokers and funders to have hands-on information about their loan application and approved loans